Latest news with #InvestmentLaw
Iraq Business
4 days ago
- Business
- Iraq Business
Iraq Explores Green Hydrogen and Blue Ammonia
By John Lee. The National Investment Commission (NIC) held a high-level meeting recently to discuss investment opportunities in the production of green hydrogen and blue ammonia, aligning with Iraq's broader strategy to diversify its energy sources and shift towards clean and renewable alternatives. NIC Chairman Dr Haider Muhammad Makiyya, who chaired the meeting, stated that these initiatives are central to the government's vision of transitioning the national economy and energy sector. He emphasised the importance of attracting foreign investment and technical expertise in clean energy, adding that collaboration between public and private sectors is key to unlocking Iraq's renewable energy potential. Dr Makiya highlighted the economic benefits of hydrogen production, including job creation and sustainable energy supply, noting that such projects could significantly contribute to Iraq's energy security and economic growth. The meeting also addressed Iraq's future plans in renewable energy and biofuels, while acknowledging the challenges posed by the country's heavy reliance on oil and the urgent need to shift towards alternative sources. Committee members and ministry representatives expressed their support for continued cooperation, citing the need to apply Iraq's Investment Law effectively and offer incentives that protect investors and attract capital into the clean energy sector. The discussion forms part of Iraq's national efforts to develop its hydrogen economy, reduce carbon emissions, and achieve its sustainable development goals. Also attending the meeting was Dr Muna Al-Jaberi, NIC's renewable energy advisor. (Source: NIC)
Saba Yemen
14-05-2025
- Business
- Saba Yemen
Tenders Oversight Authority urges Tender Committees to grant preference margin to local agricultural & industrial products
Sana'a - Saba: The Supreme Authority for Tenders and Auctions has called upon all tender and auction committees in government entities subject to the provisions of the Tenders Law to grant a preference margin to products from local agricultural and industrial projects. In a circular addressed to all ministers, governors, heads of authorities, institutions, central agencies, companies, and universities, the Authority emphasized that—based on its mandates, the memorandum of the Minister of Economy, Industry, , Investment, and the executive regulations of the Tenders and Auctions Law—all entities must include provisions in tender documents allowing for the submission of local products and granting a preference margin to local agricultural and industrial products. This applies particularly when the entity requires agricultural or industrial products and there are local products of quality equivalent to imported materials. The Authority noted that the evaluation and analysis committee should consider this matter during the final assessment stage. The preference should be granted in accordance with the percentage and conditions specified in the Investment Law, with proof provided by the relevant authority for evaluation purposes only. This is in addition to the provisions of Article (71) of Investment Law No. (3) of 1446 AH. Whatsapp Telegram Email Print more of (Local)
Zawya
28-04-2025
- Business
- Zawya
Al-Failh approves executive regulations of Investment Law in Saudi Arabia
RIYADH — Saudi Minister of Investment Khalid Al-Falih has issued a decision approving the executive regulations of the Investment Law, which aim to implement the provisions of the Investment Law and achieve the goals and objectives stipulated therein, the Umm Al-Qura newspaper reported. The regulation, which includes 37 articles, stipulates that "the foreign investor has the right to express his opinion, and the Ministry shall provide him with the opportunity to submit information and documents relevant to the procedures in question." The Ministry shall hold discussions with the foreign investor to evaluate alternative measures to hedge against the risks of foreign investment on national security if it finds, in its assessment, that such measures are sufficient to mitigate the risks threatening national security. The Ministry may also suspend the procedures before a decision is issued if an agreement is reached with the investor that is sufficient to mitigate the risks of national security. As stated in the regulation. The regulation emphasized that several factors must be considered, including whether the treatment discriminates between investors or investments based on legitimate public policy objectives, or whether the goods or services produced or consumed by the investor are part of its production inputs, in addition to the sector concerned with the investment and the size of the targeted investment, as well as the impact of the investment on the local economy or environment. It pointed out the freedom to transfer funds without prejudice to any applicable rules, regulations and instructions. The investor has the right to freely transfer funds related to his investments to and from Saudi Arabia without delay. This includes the initial capital and additional amounts for maintaining or increasing the size of investments, all profits, capital gains, distributed dividends, royalties, fees and other current income and revenues, and amounts paid under a contract, including loan installments related to investments. Transfers include revenues generated from the liquidation or sale of all or part of an investment, and the earnings and salaries of contracted workers abroad who carry out activities related to investments, as stipulated in the regulations. The regulations permit delaying or refraining from transferring funds in accordance with fair and non-discriminatory legislation in force and in good faith, relating to the following: cases of bankruptcy, insolvency, or protection of creditors' rights; issuing, trading, or dealing in securities; criminal offenses or penalties; and compliance with orders or rulings issued in lawsuits.
Saudi Gazette
28-04-2025
- Business
- Saudi Gazette
Al-Failh approves executive regulations of Investment Law in Saudi Arabia
Saudi Gazette report RIYADH — Saudi Minister of Investment Khalid Al-Falih has issued a decision approving the executive regulations of the Investment Law, which aim to implement the provisions of the Investment Law and achieve the goals and objectives stipulated therein, the Umm Al-Qura newspaper reported. The regulation, which includes 37 articles, stipulates that "the foreign investor has the right to express his opinion, and the Ministry shall provide him with the opportunity to submit information and documents relevant to the procedures in question." The Ministry shall hold discussions with the foreign investor to evaluate alternative measures to hedge against the risks of foreign investment on national security if it finds, in its assessment, that such measures are sufficient to mitigate the risks threatening national security. The Ministry may also suspend the procedures before a decision is issued if an agreement is reached with the investor that is sufficient to mitigate the risks of national security. As stated in the regulation. The regulation emphasized that several factors must be considered, including whether the treatment discriminates between investors or investments based on legitimate public policy objectives, or whether the goods or services produced or consumed by the investor are part of its production inputs, in addition to the sector concerned with the investment and the size of the targeted investment, as well as the impact of the investment on the local economy or environment. It pointed out the freedom to transfer funds without prejudice to any applicable rules, regulations and instructions. The investor has the right to freely transfer funds related to his investments to and from Saudi Arabia without delay. This includes the initial capital and additional amounts for maintaining or increasing the size of investments, all profits, capital gains, distributed dividends, royalties, fees and other current income and revenues, and amounts paid under a contract, including loan installments related to investments. Transfers include revenues generated from the liquidation or sale of all or part of an investment, and the earnings and salaries of contracted workers abroad who carry out activities related to investments, as stipulated in the regulations. The regulations permit delaying or refraining from transferring funds in accordance with fair and non-discriminatory legislation in force and in good faith, relating to the following: cases of bankruptcy, insolvency, or protection of creditors' rights; issuing, trading, or dealing in securities; criminal offenses or penalties; and compliance with orders or rulings issued in lawsuits.
Saba Yemen
20-04-2025
- Business
- Saba Yemen
Meeting at Ministry of Economy discusses mechanism for exempting Small Projects from fees
Sana'a – Saba: A meeting at the Ministry of Economy, Industry, and Investment discussed a coordination mechanism among government entities to exempt small and micro-enterprises, entrepreneurs, and innovators from fees. The meeting, which included representatives from the General Authority for the Development of Small and Micro Enterprises, the General Investment Authority, the General Authority for Science, Research, Technology and Innovation, and the Small Enterprise Development Fund, reviewed a proposed joint and integrated coordination mechanism. This mechanism aims to translate the provisions of the Investment Law, including exemptions for small and micro-projects, into practice, and to achieve the law's objectives of encouraging, developing, and supporting small and micro-enterprises and entrepreneurs. The meeting emphasized the importance of simplifying procedures for small and micro-entrepreneurs to obtain exemptions from all fees across government entities through a one-stop window. It also stressed the urgency of establishing a digital network between the Ministry of Economy, the General Authority for the Development of Small and Micro Enterprises, and the General Investment Authority, by the approved mechanism, to expedite transactions for small and micro-projects and to benefit from international best practices in this field. Whatsapp Telegram Email Print more of (Economy)
