Cameroon Passes Law on New Incentives to Foreign and Local Investors
Since April 18, 2013, a law aimed at facilitating the activities of investors on Cameroon soil now exists. President Paul Biya promulgated the bill from the lower house of parliament into law last Thursday.
Law no 2013/004 grants a common tax, customs, financial and administrative incentives and also special administrative incentives to businesses at the establishment and operation phases.
EBRD says Azerbaijan’s growth trends will speed up
The European Bank for Reconstruction and Development (EBRD) expects the acceleration of the economic growth trends in Azerbaijan in 2013.In its Regional Economic Prospects report, EBRD says that after successfully overcoming the financial crisis, Azerbaijan's economy has slowed as the pace of oil extraction decelerated. However, the oil output decline has been more than compensated by the encouraging growth of the non-oil sector led by construction and services sectors.
Chief executives in the Middle East and North Africa (Mena) region are seeing a ray of sunshine while most of the world is covered in gloom. The latest confidence index released yesterday by the Young Presidents’ Organization (YPO), a not-for-profit network of 20,000 CEOs, showed that there is a slight increase in the level of optimism among executives in Mena. Factors like strong oil prices and ongoing economic diversification in some parts of the region such as Saudi Arabia have led to improved sentiment.
Djibouti officials pledge reforms as final version of Investment Policy Review is unveiled
High-level representatives of the Government of Djibouti said Tuesday that the recommendations in UNCTAD's Investment Policy Review (IPR) of the country - including adoption of a new investment code based on international best practices - will be put into effect.The officials were speaking at a meeting of UNCTAD's Investment, Enterprise and Development Commission, where the final version of the IPR was presented. UNCTAD has now carried out 35 such reviews at the request of developing countries.
The Public Authority for Investment Promotion and Export Development's (Paiped) efforts at connecting Omani businesses to international markets have been recognized by the United Nations Conference on Trade and Development (UNCTAD). At the recently held UNCTAD Investment Promotion Awards, held in Geneva, Switzerland, the Paiped delegation, led by Nasima al Balushi, director general of export development at the Authority, picked up the prize for "Excellence in Promoting Export-oriented Foreign Direct Investment.'
The 29th Meeting of the Follow-up Committee of the COMCEC will be held on 14-15 May 2013 in Ankara, Turkey, with the participation of the member countries of the Committee (Saudi Arabia, Turkey, Palestine, Senegal, Kuwait, Iran, Kazakhstan, Pakistan, Qatar, Mali and Cameroon) and the representatives of the OIC General Secretariat and the relevant OIC subsidiary, affiliated and specialised organs.
ICC appoints new Chair of the Digital Economy Commission
The International Chamber of Commerce (ICC) is pleased to announce the appointment of Joseph Alhadeff as the new Chair of the ICC Commission on the Digital Economy. Having served as Vice-Chair since May 2002, Mr Alhadeff will take over from Herbert Heitmann, Executive Vice-President of External Communications at Royal Dutch Shell, who will be stepping down from the post during the commission’s summer meeting in Paris.