Investment laws approved and will be implemented in the year 2018
ACAIT – Minister of State Coordinator for Economic Affairs and Minister of agriculture and fisheries (MAF-MECAE) Eng. Estanislau Aleixo da Silva noted Private Investment Law approved in Parliament and will be implemented in the year 2018.
The National Parliament (NP) approved investment laws with 52 votes and law, according to the plan will be implemented in the year 2018.
The investment law will be defined also about Double that relate to taxes to increase State Revenues.
The Minister Estanislau explained that private investment law covers almost forty (40) articles and law will provide incentives for companies or Companies that want to invest and investment Certificates to invest in specific areas such as Agriculture, fisheries, the Operators in the area of tourism and Industry Manufacture.
Definition of the two categories investment law is national and international Investors, and in the new investment law itself has elemental minimum investment amount is in the previous investment law says that the minimum capital of USD 50 mil for National investors and capital of USD 1, 5 million (one million five hundred USD) for foreign investors.
Review the minimum amount investment that the kind of practices that today in many countries in the Asia region, the minimum capital investment is not concerned and the person concerned is indiscriminate investment, the company should create labor camps and invest new goods and increased production, increasing economic competitiveness in order to compete with other countries, said Eng. Estanislau. He also added that the Government of Timor-Leste through MECAE will eliminate minimum capital and a decision before making were also recommendations favorable of international humanitarian Fund, the World Bank and experts from Asia, and when to make decisions to the minimum capital eliminate, the Government also focused on experiences and laws privilege in Asia region.