Luanda, ANGOLA, June 8 - Angola's National Assembly (AN) approved on Monday in general the opinion reports of draft law on the legal regime of free zones.,

The document which was approved unanimously is part of support production, import substitution and export diversification programme defined in the National Development Promotion Plan 2018 -2022.

It aims to provide the national economy with appropriate opportunities and conditions for attracting investments that will speed up the process of diversification and modernisation of the national economy.  

The document, to be discussed in the plenary session on the 17th this month, intends to create a legal regime for the creation of free zones in Angola by laying down delimited free trade areas, at the initiative of the State or private sector, with tax benefits and incentives, special regimes and modern structures.

The approval of the referred diploma represents a new paradigm of the process of socio-economic development of the Republic of Angola.  

Still on Monday, the AN approved the Law Proposal amending the Public Contracts Law.

With eight articles, the document is aimed to mitigate the constraints in the process of forming and executing public contracts.  

 

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