How to stimulate investment in Comoros? May 24, 2009
Posted by iogateway in Investor Guide, Research development innovation.Tags: bilateral, business law, COMESA, comorian legislation, investment in comoros, investors, NAPIC, OHADA, world bank
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How to stimulate investment in Comoros by Youssouf BOINA lawyer
Younoussa Boina suggests to extend Investment in Comoros package laws by bringing up two major development axes:
- continuing to sign up international agreements with COMESA, OHADA in order to integrate local business laws to internationl standards.
- reinforcing national legislation dedicated to business laws.
All bone of contention must be solved and guaranteed by the both. He notes that amoung the major benefits of the investment package laws we can discern: freedom on establishing or setting up companies and freedom on choosing sectors. He insists that all investments must be accurated with all international and bilateral agreements and comorian legistlation regarding ( laundering of money, struggling against crime) . He supports the national agency for promoting investment in comoros – NAPIC. By the way he insistes to controll the NAPIC by avoiding too much collateral red tap. He would encourage more incentives for the free taxes zones where development of employment seems be strategic such as tourism, fishing industry and agriculture according to the world bank recommendations.
In other hand encouraging joint venture by associating local entrepreneurs and foreign entrepreneurs. Superimposition of three legal sources: french, indigenous and islamic must be logical with bilateral-international-local legislation. In conclusion, the lawyer suggests to complete business laws by reassuring investors in case of legal dispute which juridiction will be capable to mediate.
