Government to sign investment agreements for strategic projects

The Government was empowered with the right to sign investment agreements for strategic projects with the aim of reducing the investment risk. The methods of negotiating and signing strategic agreements are stipulated in regulations proposed for public debates by the Ministry of Economy and Infrastructure, IPN reports.

The mechanism for informing, selecting, negotiating, signing and monitoring the implementation of investment agreements will be ensued by the Investment Agency and the working group that consists of representatives of the Ministry of Economy and Infrastructure, the Investment Agency, the Competition Council, ministries and other administrative authorities in charge of the area where the agreement is implemented.

The strategic investment agreements should envision a volume of investment of at least US$ 3 billion and should ensure the creation of at least 100 jobs, with a monthly salary not lower than the forecast average official salary. Also, the implementation of the agreements should end with the introduction of new technology and development of new products, with a minimum impact on the environment and human health. The goods or services produced within such projects should be intended for export or should be designed to substitute imports.

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