27. Investment Administration Organs
The organs of investment administration comprise the Agency and regional investment organs to be defined by the laws of the respective regions.
28. Powers and Duties of the Agency
The Agency shall:
1/serve as a nucleus for matters of investment and promote, coordinate and enhance activities thereon;
2/initiate policy and implementation measures needed to create a conducive and competitive investment climate and follow up the implementation of same upon approval;
3/ negotiate bilateral investment promotion and protection treaties with other countries where potential investment is likely to flow into the country and sign same upon approval by the Council of Ministers;
4/prepare and distribute pamphlets brochures, films and other materials. and organize such activities as exhibitions workshops and seminars locally or abroad as may be appropriate, participate in similar activities and conduct trainings with a view to encourage and promote investment and build the image of the country;
5/realize liaison and coordination between investors, public offices regional governments and other relevant organs, with a view to enhancing investment;
6/collect, compile, analyze, update and disseminate any investment related information;
7/ prepare and promote concrete investment opportunity profiles, provide upon request. Match making service of possible joint investment partners;
8/ issue, renew and cancel investment permits within its jurisdiction and register investment capital brought into the country by foreign investors;
9/register technology transfer agreements related to investments;
10/ register export-oriented non-equity based collaboration agreements made between a domestic investor and a foreign enterprise;
11/monitor the implementation of investment projects for which it has issued permits ensure that the terms of the investment permit are complied with and incentives granted to investors are used for the intended purposes;
12/ provide advisory service, information and technical support to investors and assist in the provision of information to ensure the existence of supply chains among investment projects;
13/ carry out post-investment support and monitoring services in collaboration with organs established for such purpose;
14/ provide advisory service and technical support which help strengthen regional investment organs; organize joint consultation forums;
15/ raise the awareness of investors on the contents of this Proclamation and regulations and directives issued hereunder;
16/cause investment bottlenecks to be resolved in collaboration with appropriate government organs,
29. Powers and Duties of the Investment Board
The Investment Board shall:
1/supervise and follow up the implementation of this Proclamation and the activities of the Agency;
2/decide on policy issues arising in connection with the implementation of this Proclamation;
3/recommend, as necessary, amendments to this Proclamation and regulations issued hereunder;
4/ issue directives necessary for the implementation of this Proclamation and regulations issued hereunder;
5/decide on appeals submitted to it by investors against decisions of the Director General of the Agency;
6/where necessary, forward recommendations, for approval by the Council of Ministers, to grant new or additional incentives other than what is provided for under existing regulation;
7/where necessary. forward recommendations. for approval by the Council of Ministers. investment areas exclusively reserved for domestic investors to be open for foreign investors.
30. One – Stop Shop Service
1/The Agency shall, in accordance with the relevant laws, provide one-stop shop services referred to in this Article for investors it has issued with investment permits engaging in areas of manufacturing in accordance with Article 4 of this Proclamation.
2/The Agency shall provide the following services representing the competent federal or regional executive organs, as appropriate:
a) permitting exemption incentives from the payment of customs duty;
b) issuance of construction permit;
c)notarization of memorandum and articles of associations and amendments thereto:
d)effecting commercial registration, and renewal, amendment, replacement or cancellation of same;
e)effecting registration of trade or firm name, and amendment, replacement or cancellation of same;
f)issuance of work permits to expatriate employees, and renewal replacement suspension or cancellation of same;
g)issuance of business license;
h)grading of construction contractors;
i)issuance of tax identification number (TIN ),
3/Amendments. renewal. replacement and cancellation pertaining to the services referred to in paragraphs (c) to (f) of sub-article (2) of this Article shall only be made by the Agency until the investor is issued with a business license.
4/ The Agency shall provide the following services on behalf of investors:
a) execution of investors’ requests for land required for their investment projects;
b) execution of investors’ requests for loan;
c) execution of foreign investors’ requests for residence permits;
d) execution of investors’ requests for approval of environmental impact assessment studies conducted on their investment projects; and
e) execution of investors’ requests to acquire water electrical power and telecom services.
5/ For the implementation of sub-article (4) of this Article the appropriate federal executive organs shall establish investment desks that expedite and facilitate investors’ request submitted by the Agency. The Regional executive organs may accept this practice and establish investment desks.
6/Without prejudice to the provision of sub-article (5) of this Article, the appropriate federal or regional executive organs shall take measures necessary to help the Agency properly discharge its duties specified under sub-article (4) of this Article.
7/ Upon receipt of an application in accordance with sub-article (2) of this Article, the Agency shall, after examining the request in light of the relevant laws:
a)issue the necessary documents, upon receipt of the appropriate fee and causing the investor to enter an undertaking to observe the relevant laws of the country. where the application is found acceptable; or
b)notify the investor of its decision and the reason thereof in writing, where the application is found unacceptable.
8/The Agency shall, after rendering the services provided for in sub-article (2) of this Article, notify -the concerned federal and regional executive organs for the necessary follow up.
9/ Without prejudice to the requirements to be fulfilled in accordance with the relevant laws, an investor submitting his request to the Agency to be issued with a business license shall furnish his project feasibility study.
10/ Regional investment organs may give, to investors they have issued with investment permits, the one-stop shop services provided for in this Article, in accordance with the relevant federal and regional laws.
31. Investment related Information
1/ The appropriate federal and regional executive organs shall transfer complete and updated information regarding land required for investment projects, investment capital brought into the country as well as other necessary investment related information to the Agency and regional investment organs in order to help them facilitate the proper discharge of their powers and duties under this Proclamation.
2/ Each regional investment organ shall transmit to the Agency information compiled with respect to the resource potential and investment opportunities of the region as well as periodic reports on investment activities therein.
3/the appropriate investment organ shall compile, analyze and distribute as necessary, the information it acquired pursuant to sub-article (2) of this Article.
4/Any federal or regional executive organ shall have the duty to provide information relating to investment whenever so required by the appropriate investment organ .
32. Lodging of Complaints
1/Any investor shall have the right to lodge complaints related to his investment with the appropriate investment organ.
2/An investor who has a grievance against the decision of the appropriate investment organ may, within 30 days from receipt of the decision, appeal to the Investment Board or to the concerned regional organ, as may be appropriate.