By Bida Elly David<\/p>\n
<\/p>\n
National Constitutional Amendment Committee (NCAC) on Thursday handed over the National Investment and Promotion Act amendment bill (2023) to the Ministry of Justice and Constitutional Affairs.<\/p>\n
The Bill will regulate investors and investment activities to ensure the smooth running of investments across the Country.<\/p>\n
Speaking to journalists after the handing over, Gichira Kibabra the chair of the committee said the bill acts as a landmark to improve investment environment in South Sudan.<\/p>\n
\u201cWe strengthened investment governance by making sure there are clear provisions to apply for investment certificates on known criteria without favor or corruption,\u201d he said.<\/p>\n
He noted that the Investment Act contains laws that enable local investors to have a completive investment advantage over foreigners.<\/p>\n
\u201cWe have also ensured that the businesses in South Sudan are protected from unfair competition in a sense that if there are some businesses to be done by locals, they are not taken up by foreigners,\u201d he said.<\/p>\n
Mr. Gichira added that some provisions categorized the nature of businesses that locals will run without foreign intervention due to their nature.<\/p>\n
\u201cWe have also put provisions that will protect investors so that they have confidence bringing money from all over the world to come and establish business here,\u201d he noted.<\/p>\n
He further underscored that attracting foreign investors in South Sudan will partly resolve the unemployment problem by mitigating crimes.<\/p>\n
The bill also provides the establishment of space economic zones enabling the Country to establish particular areas for importing and exporting goods aimed at generating revenues.<\/p>\n
He also ensured that the provision has eased business registrations where registration processes are done in one office rather than moving from one ministry to another.<\/p>\n
\u201cWe have eased the registration processes of businesses through the endorsement of transaction licenses known as a one-stop shop where you go to one office and get a license you need,\u201d he said.<\/p>\n
However, Mr. Gichira said there are still four more bills that are in the process of completion.<\/p>\n
\u201cWe have only four laws outstanding, the mining act, the national pension act, the transport act, and finally the telecommunication act,\u201d he said.<\/p>\n
He said the four bills shall most probably be accomplished in February next year if they are properly facilitated.<\/p>\n
\u201cIf we are properly facilitated particularly by the government, in terms of the payments of the members so that they are able to attend meetings to finish our work,\u2019\u2019 he said<\/p>\n
Meanwhile, Dr. Isaac Awow the undersecretary of the Ministry of Justice appreciated the NCAC for the efforts made in amending the bill.<\/p>\n
He said the bill shall next week be tabled before the Council of Ministers for deliberations and approval.<\/p>\n
\u201cWe are delighted to receive the chair of NCAC to hand over to the ministry of justice the amendment bill of investment promotion, this bill is important for the Country\u2019s economy,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Bida Elly David National Constitutional Amendment Committee (NCAC) on Thursday handed over the National Investment and Promotion Act amendment bill (2023) to the Ministry of Justice and Constitutional Affairs. The Bill will regulate investors and investment activities to ensure the smooth running of investments across the Country. Speaking[Read More…]<\/a><\/p>\n","protected":false},"author":2,"featured_media":19355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80,79],"tags":[],"class_list":["post-19354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-news"],"jetpack_featured_media_url":"https:\/\/www.onecitizendaily.com\/wp-content\/uploads\/2023\/10\/Mr.-Gichira-Kibara-chair-of-NCAC-Photo-by-Bida-Elly-David.jpg","_links":{"self":[{"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/posts\/19354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/comments?post=19354"}],"version-history":[{"count":1,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/posts\/19354\/revisions"}],"predecessor-version":[{"id":19356,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/posts\/19354\/revisions\/19356"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/media\/19355"}],"wp:attachment":[{"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/media?parent=19354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/categories?post=19354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/tags?post=19354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}