Investment Promotion Law
The Investment Promotion Law is one of the economic administrative laws presented to us by the macroeconomic field as one of the modern concepts that aim directly at developing the local economy, raising its capabilities, developing its capabilities, and transferring it from one situation to a better one. It is one of the governmental laws issued by developed and developing countries alike. whether; For the purpose of advancing its economic level in light of recession and various crises, or in the natural conditions in which the state decides to develop itself and achieve relative self-sufficiency in the field of industry, trade, and the production of raw materials. The foundations on which it is based, and the most prominent decisions issued by it.
Definition of Investment Promotion Law
It is one of the governmental laws issued by the state to encourage its citizens to invest their capital in commercial and economic projects, whether commodity or service productivity, which increases the gross domestic product, raises the level of income, fights unemployment, increases job opportunities, raises the level of welfare in the country, and reduces the rate of poverty and poverty The rate of crimes resulting from that, and the size of the investment varies depending on the size of the founding capital, the type of work, the number of workers or the size of the workforce, and there is a local investment that is within the borders of the state that approves this law, and there is a foreign investment that is at the level of more than one country It contributes to introducing hard currencies into the country and raising its economic level.
Objectives of the Investment Promotion Law
Increase the volume of production.
Expanding the circle of local, regional and foreign investment.
Increase national income.
Reducing unemployment.
Increasing the volume of exports.
Reducing the rate of imports.
Increasing economic capacity.
Increase competition.
ways to encourage investment
Reducing, as much as possible, government control over private projects.
Facilitate export procedures abroad, and open the door to communication with different countries.
Removing customs on goods, and facilitating procedures for obtaining raw materials.
tax relief.
Providing financial support and funding, especially in the field of agriculture, or providing appropriate treatments for land and plants, and supporting farmers.
Facilitate the procedures for obtaining the necessary permits and licenses to start new projects.
fight monopoly.
Establishing competition laws between merchants.
Supporting national products, raising customs on imported goods, and striving towards achieving relative self-sufficiency, especially in the field of food.
Providing industrial techniques, and being careful not to displace manpower and competencies.
Fighting corruption in all its forms, and ensuring the equitable distribution of various resources, in a manner that guarantees the abolition of class.
The existence of an impartial judiciary to resolve various disputes.
Reducing electricity, water and fuel prices.
Imposing a zero-value tax on services provided by the government, and entrepreneurs benefiting from it.
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