CCI-TL participated in Socialization of new private investment Law
President of the CCI-TL Mr. Oscar Lima, together with the Vice President of Mr. João Alves, Dr. Eduardo Belo Soares, Dr. Julio Fernandes and Vice President of the Private Investment Issue Dra. Kathleen Goncalves and the President of the Association of Women of Impresarios de Timor-Leste – AEMTL Dra. Herguilina Fernandes Alves, attended Socialization of new private investment Law No. 15/2017 and the Government Decree No. 02/2018 (regulation and Submitting Private Investment), on Friday the 2nd of Marco 2018.
In the Socialization of the laws and regulations presented by the Executive Haber’s Trade Invest Dr. Arcanju da Silva and Legal Partners Trade Invest of CRA, Dr Duarte.
This socialization as essential for Investors to match private investment laws and regulations is Submitting refer to contribute for the implementation. New Private investment law No. 15/2017 and the Government Decree No. 02/2018 will give way and regulate the national and foreign investors who want to invest in the productive sector which the Government promotes in Timor-Leste.
Trade Invest Timor-Leste asks for investors to invest should follow the new private investment Law No. 15/2017 and the Government Decree No. 02/2018 about regulation and submitting for private investment law. As Executive Haber’s Trade Invest noted socialize has a law by Decree Law investment new private, in order to regulate the investor for the company to invest may be according to the criteria which the Government.
The private sector is not only the main economic development Partners, which both laws would provide Legal guidance to the Government but the private sector in accordance with its Constitution as important liar, which not only Government partners but liar as economic agents in order to develop our economic.
Socialization of the SIXTH Constitutional Government in Timor-Leste began legislative reform is to develop our economy to hand more to the private sector and to guide the public sector to become better partners to develop our economy, Since this is the result of a new investment law No. 15/2017, is promulgated by the President of the Republic day, 23 Augustus 2017. due to the new law to revoke the Investment Law article 14/2011, which we implemented along of almost 6 years, promulgated the new Law in Timor-Leste, on the 1st of January 2018, but we need to have the Decree of the Government in accordance with law to Regulation and Submitting how we can provide better attendance is facilitation and clarity quickly, accurate, effective, efficient for investors, thereby takes the law is promulgated for the guidance.
This socialization is an important opportunity for private investors and regulations and Submitting refer to contribute to its implementation. Private investment law No. 15/2017, can consider for locals, a minimum value of $50 million, foreign investors $500 minimum value millions, ultimately to join venture partners and national minimum value investors resident $250 million.
The event was attended by a maximum of the private sector, as well as the representative of the Embassy in Timor-Leste, NGO and INGO, with total participants together 147 persons, after the presentation of the questions and answers session were from the participants and finally the results of this event is not successful.
Socialization is in Place, the HOTEL NOVO TOURISM-Dili, Timor-Leste. (Media Officer CCI-TL)