Foreign investment plays an extremely important role in the Country's economic development. It is therefore important to establish a legal regime for it which, while not prejudicing the State's essential interests, will be sufficiently attractive to potential investors; providing them with both credible security guarantees and legal stability, a nd clear regulations and straightforward, rapid procedures.

This being so, an urgent reformulation of all current foreign investment legislation is required, starting with the content of its general legal regime. Thus, under the terms of line b) of Article 88 of the Constitutional Law, the National Assembly passes the following:

Article 1 - Scope
Article 2 - Promotion of Foreign Investment
Article 3 - Permissability of Foreign Investment
Article 4 - Definitions
Article 5 - Foreign Investment Operations
Article 6 - Forms of Investment

Chapter II - Rights and Obligations

Article 7 - Foreign Investement Status
Article 8 - Rights and Guarantees
Article 9 - Obligations
Article 10 - Tax regime
Article 11 - Recourse to Credit
Article 12 - Bank Accounts
Article 13 - Labor Force
Article 14 - Project Implementation
Article 15 - Monitoring
Article 16 - Transfer of Contractual Status
Article 17 - Dissolution and Liquidation

Chapter III - Foreign Investment Procedures

Section 1 - Types of Procedures

Article 18 - Listing of the Regimes
Article 19 - Exclusion

Section 2 - Prior Declaration Regime

Article 20 - Framework
Article 21 - Submitting the Proposal
Article 22 - Evaluation of the Proposal
Article 23 - Rejection of the Proposal
Article 24 - Acceptance of the Proposal

 
Section 3 - Prior Approval Regime

Article 25 - Framework
Article 26 - Submitting the Proposal
Article 27 - Evaluation of the Proposal
Article 28 - Rejection of the Proposal
Article 29 - Approval of the Proposal

Section 4 - Contractual Regime

Article 30 - Framework
Article 31 - Characterization of the Contractual Regime
Article 32 - Submitting the Proposal
Article 33 - Access to the Regime
Article 34 - Evaluation of the Proposal
Article 35 - Rejection of the Proposal
Article 36 - Negotiations
Article 37 - Approval of the Contract

Article 38 - Correction of the Proposals
Article 39 - Complaint Against the Rejection Decisions
Article 40 - Remittance to the Central Bank
Article 41 - Consitution and Modification of Companies
Article 42 - Commercial Registration
Article 43 - Other Registration
Article 44 - Central Bank Information
Article 45 - Competitive Bids and Direct Agreements

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Article 46 - Violations
Article 47 - Sanctions
Article 48 - Descions and Appeals Regarding Sanctions

Chapter V - Final & Transitory Provisions

Article 49 - Competent Body
Article 50 - Special Legislation
Article 51 - Previous Investment Projects
Article 52 - Revoking Procedure
Article 53 - Rules & Statutes
Article 54 - Disputes & Omissions
Article 55 - Term of Effectiveness