IV. Legal framework

4.1. Investment Code (cfr. Act No. 004/2002 of 21/02/2002)

The new investment code has the following objectives :

a) Promote the establishment of civil engineering companies responsible for construction and maintenance of roads as well as transportation of people and goods, whether by land transportation, river or air;
b) Promote investments that develop agriculture and agribusiness through mechanization in order to ensure food self-sufficiency therefore reduce imports of commodities and allow both ;
c) Promote large investments to establish a strong industrial base which will support sustainable economic growth;
d) Encourage investments aimed to developing the national natural resources on site in order to increase the added value and the exportable volume. Decree 13/049 of 10.6.2014 relating to the tax regime to be applied to companies eligible for the Strategic Partnership on the value chain.

The above mentioned Decree aims to establish a tax system of development as part of the legal framework for economic promotion and revival of the national industrial units likely to improve the living conditions of the local communities.

This is an instrument of economic promotion that will assist the Government and the private sector in directing, organizing and carrying out investments of partnership programs in the areas and sectors that have significant potential for integration and which once developed, will allow a large segment of the population to take part in the economic and social activities of specific geographical areas.

4.2. Agricultural Code (Law No. 11/022 of 24 December 2011 on fundamental principles relating to agriculture). The Code aims to:

a) promote the sustainable development of potential and agricultural areas while integrating social and environmental aspects;
b) boost agricultural production by establishing a special customs and tax regime in order to achieve, inter alia, food self-sufficiency;
c) boost exports of agricultural products to generate significant resources for investment;
d) promote processing and transformation industries for local agricultural products;
e) bring new renewable energy technologies;
f) get the provinces, the decentralized territorial entities and the local farmers involved in the promotion and implementation of agricultural development processes.

7 février 2019