NATIONAL ASSEMBLY MPS: MPs Predict Improvements in Business Environment

National Assembly MPs issued the following announcement on July 23.

National Assembly MPs encouraged on Wednesday the Executive to continue with the measures aimed at the implementation in the Free Zones, in order to improve the business environment.

This was during the 11th ordinary plenary session of the Angolan Parliament, which, among other diplomas, unanimously approved the Free Zone Legal Regime.

The document establishes the rules for the creation of free zones, the objectives, general principles, incentives and facilities to be granted to investors and the companies that operate in them.

It also opens up the possibility of establishing free trade zones in certain regions of the country, at the initiative of the State or private agents.

To these, the State foresees to assure tax benefits and incentives, special regimes in the exchange, financial, labour and migratory domains.

With the entry into force of the Law on the Legal Regime of Free Zones, the Executive hopes to transform the country into a place that favours the absorption of new technologies, job creation, and supports scientific research and research.

Original source can be found here.