南苏丹投资法 THE INVESTMENT ACT.docx

南苏丹投资法 THE INVESTMENT ACT.docx

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南苏丹投资法THEINVESTMENTACT

LAWSOFTHENEWSUDAN

THEINVESTMENTACT,2004

PrintedandDistributedbySecretariatofLegalAffairsandConstitutionalDevelopment.

ProvisionalOrder

LAWSOFTHENEWSUDAN

THEINVESTMENTACT,2004

TABLEOFCONTENTS

SectionTitlePage

CHAPTERONE–PRELIMINARYPROVISIONS

1.TitleandCommencement.3

2.Savings3

3.Definitions3

4.Application.4

CHAPTERTWO–ENCOURAGEMENTOFINVESTMENT

5.FieldsofInvestment.4

6.ObjectsofInvestment.5

7.NonDiscrimination.5

CHAPTERTHREE–PRIVILEGESANDFACILITATIONS.

8.GrantofPrivilegesandFacilitations.6

9.ExemptionfromBusinessProfitTax.6

10.ExemptionfromDuties.6

11.AllotmentofLand.7

12.LocalDuties7

13.ElectricityandTransport.7

14.ProjectProducts.7

15.PreferentialTreatment.7

16.FeasibilityStudy.7

17.LicencefortheProject.8

18.TermsandProceduresforaLicence.8

19.GuaranteeAgainstNationalizationorConfiscation.8

20.TransferofProfitsofInvestedCapital.9

CHAPTERFOUR–RULESOFINVESTMENT

21.LoansfromAbroad9

22.FixingandRegistrationofForeignCapital.9

23.CancellationofLicences,Privileges,Preferentialsand

Guarantees.9

24.Contraventions.10

CHAPTERFIVE–THEINVESTMENTBOARD

25.InvestmentBoard10

26.FunctionsoftheSecretaryGeneral10

27.FunctionsoftheTechnicalTeam11

28.CompositionoftheTechnicalTeam12

29.TheNationalInvestmentCommittee.12

30.FunctionsoftheNationalInvestmentCommittee13

CHAPTERSIX–MISCELLANEOUSPROVISIONS

31.SettlementofDisputes.13

32.Regulations.13

__________________________________

PROVISIONALORDER

LAWSOFTHENEWSUDAN

THEINVESTMENTACT,2004

AnActtoprovidefortheestablishmentandencouragementofinvestmentandanyotherissuesrelatedtoormatterstherein.

CHAPTERONE

PREMLIMINARYPROVISIONS

Section1.TitleandCommencement.

ThisProvisionalOrdermaybecitedas“TheInvestmentAct,2004”andshallcomeintoeffectonthedateofsignature.

Section2.Saving.

NotwithstandingtheprovisionsofthisAct,allthelicences,privileges,facilitations,preferentialtreatmentsorguaranteesinforce,issuedorgrantedunderanyagreementintheNewSudanshallbevalidandoperationalandshallbedeemedtohavebeengrantedunderthisAct,tilltheyarerepealedoramendedinaccordancewiththeProvisionsofthisAct.

Section3.Definitions.

InthisAct,unlessthecontextotherwiserequires,thefollowingwordsandexpressionsshallcarrythemeaningsassignedtothem:

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“TheProject”meansanenterprise,utilityoranyeconomicactivityfallingwithintheallowedinvestmentareasinaccordancewiththeprovisionsofthisAct;

“NationalCapital”meansthecapitalownedbyaNewSudanNationalinvestor,whichisemployedatthecommencementofinvestmentintheproject.ItconsistsofmovableandimmovableassetscashorcapitalisedprofitsoftheprojectmadewiththeconsentoftheNationalInvestmentCommittee;

“ForeignCapital”means:

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a）TheforeigncurrencytransferredtotheNewSudan,attheexchangeratecurrentatthetimeoftransferthroughabankoperationalintheNewSudanforutilizationinexecutionofaproject.

b）Importedmachinery,equipmentandmeansoftransportfinancedfromabroadandnecessaryfortheexecutionoftheprojectandcompatiblewiththetechnologicaldevelopmentsandspecificationsasprescribedbytheNationalInvestmentCommittee.

c）TheforeigncurrencyutilizedonpreliminaryandfeasibilitystudiesandfoundationundertakenbytheinvestorwithinthelimitsapprovedbytheNationalInvestmentCommittee.

d）Theprofitsrealisedbytheproject,ifcapitalisedorinvestedinanotherprojectwiththeconsentoftheNationalInvestmentCommittee,inaccordancewiththeprovisionsofthisAct.

e）Intangibleassetsi.e.patents,trademarks,technicalexperience…etc.registeredbytheforeigninvestorforutilizationintheproject.

“NationalInvestmentCommittee”meanstheCommitteeforinvestmentestablishedunderSection29ofthisAct;

“TheCommissioner”meanstheCommissionerforFinanceandEconomicPlanning;

“CommissionforEconomy”meanstheSPLMCommissionforFinance,EconomicProduction,HumanResourceDevelopmentandPhysicalInfrastructure;

“SPLM”meanstheSudanPeople’sLiberationMovement;

“CANS”meanstheCivilAuthorityoftheNewSudan;

“Chairman”meanstheChairmanofSPLMandCANS.

Section4.Application.

1）Subjecttotheprovisionsofsection2,theprovisionsofthisActshallapplytoalltheinvestmentprojectsintheNewSudan.

2）TheCommissionermayontherecommendationoftheCommissionerforIndustryandMiningandapprovaloftheNationalInvestmentCommittee,granttotheleaseholdersforminesandquarries,theprivilegesandfacilitiessetforthinthisAct.

CHAPTERTWO

ENCOURAGEMENTOFINVESTMENT

Section5FieldsofInvestment.

ThisActistargetinginvestmentandencouragementofprojects:

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1）Inagricultural,animal,mining,industrial,transport,tourism,storageandhousingfieldsandanyothereconomicfieldthattheNationalInvestmentCommitteemayprescribe.

2）Initiatedbythepublic,co-operative,mixed,national,private,andforeignsectors.

Section6.ObjectsofInvestment.

TheobjectsofthisActingeneralaretopromoteinvestmentinprojectsaimedattheachievementofdevelopmentplansoftheNewSudan,andinparticulartoencourageinvestmentinprojectswhich:

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1）Effectivelycontributetowardstheincreaseofnationalincome,widenthenationaleconomybaseandstrengthenitsactivity;or

2）Contributetowardstheremovalofbottleneckshinderingdevelopment;or

3）Availserviceswhichcontributetowardstheconsolidationofsocio-economicdevelopment;or

4）Dependinproduction,onlocalmaterialsorwhoseestablishmentisforproductionofsuchmaterials;or

5）Assistintherealizationofselfsufficiencyandcreationofsurplusforexport;or

6）Assisteffectivelyintheconsolidationofbalanceofpayment;or

7）Availemployment,directlyorindirectlyforthenationals;or

8）Havestrategicimportance;or

9）Contributetowardstherealizationofeconomicco-operationorintegrationwiththeneighbouringandAfricancountries;or

10）Contributeorgearedtowardspovertyeradicationandorenvironmentalprotection;or

11）Dependinproductiononsustainableutilizationofnaturalresources.

Section7.NonDiscrimination.

（1）Thereshallbenodiscriminationbetweentheforeignandnationalprojectsinthegrantofprivileges,preferentialtreatmentsandfacilitiesunderthisAct.

（2）Withoutprejudicetotheprovisionsofsubsection

（1）above,theminimumcapitalrequiredfortheregistrationofanycompanyandissuanceoflicencethereinshallbeasfollows:

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（i）NationalcapitalUS$100,000oritsequivalentinlocalcurrency.

（ii）ForeignCapitalUS$0,500,000

CHAPTERTHREE

PRIVILEGESANDFACILITATIONS

Section8.GrantofPrivilegesandFacilitations.

1）WithoutprejudicetotheprovisionsofanyotherLaw,andsubjecttotheprovisionsofthisAct,theCommissionermay,afterconsultationwiththeCommissionerconcernedandconsentoftheNationalInvestmentCommitteegrantalloranyoftheprivilegesandfacilitationstoanyprojectifhe/sheissatisfiedthattheprojectwillachieveanyoftheobjectsundersection6aboveorgiveitadistinctiveeconomicvalue.

2）Thetype,extentandperiodofprivilegesandfacilitationsshallbedeterminedinaccordancewiththelevelofachievementoftheprovisionsofsection6hereofandthepoliciesandprioritiesdeterminedbytheNationalInvestmentCommittee.

Section9.ExemptionfromBusinessProfitTax.

1）TheCommissionermay,subjecttotheprovisionsofsections5and8

（1）above,exempttheprojectwhollyorpartlyfrombusinessprofittaxforamaximumperiodoffiveyearswitheffectfromthedateofcommencementofproduction.Theperiodofexemptionshallbeinaccordancewiththeimportanceoftheprojecttothenationaleconomyandthesizeofinvestmenttherein.

2）Withoutprejudicetotheprovisionsofsubsection

（1）above,theCommissioner,maysubjecttotheprovisionsofthisAct,extendtheperiodofexemptiontoamaximumperiodoffiveyearsincaseofintegratedprojectswhichincludebasicstructuresofproductionsuchasroadsandotheressentialservicesorwithrespecttolargeinvestmentprojects.

3）Aprojectshallbegrantedexemptionforitsownbenefitanditsimportancetothenationaleconomy.Thebenefitshallnot,duringtheperiodofexemption,bereturnedortransferredtoanothercountry.

Section10.ExemptionfromDuties.

1）TheCommissionermayinexerciseofhis/herpowersundersection8above,exemptaprojectwhollyorpartlyfromthefollowingduties:

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（i）customsdutiesrelatingtomachines,equipments,apparatusandimportedspare

partsnecessaryfortheproject.

（ii）importedraw,andorintermediarymaterialsnecessaryfortheprojectandwhichcannotbefoundlocallyintherequiredqualitiesandquantities.

（iii）importdutiesonfinishedorsemiprocessedgoodsarisingoutoftheproject.

（iv）anyotherdutiesortaxesimposedontheproject.

2）TheCommissionermayalsoexempttheprojectwhollyorpartlyfromexcisedutiesimposedonmaterialsorcommoditieslocallyproducedandwhicharenecessaryfortheproject.

Section11.AllotmentofLand.

WithoutprejudicetotheprovisionsofanyotherLaw,theCommissionermayafterconsultationwithanyotherconcernedauthoritiesallotthelandnecessaryfortheestablishmentoftheproject.He/shemayreducetheleaseholdpriceororderthatsuch