Presidential Decree Regarding Allot
Presidential Decree Regarding Allotment of Industrial Sites for Investment Free of Charge
The President issued a decree delineating the industrial sites that the state could grant to investors free of charge (the "Decree").[1] This Decree brings into effect article 74 of Investment Law No. 8 for 1997, which has been amended in 2015. The article states that land may be allotted to investors free of charge as per the regulations that are to be issued by the cabinet. The article also stated that these lands are to be specified in a presidential decree.
The recently issued Decree delineates the aforementioned lands. What remains to fully effectuate the mandate of article 74 is for cabinet to issue a decree detailing the rules and conditions according to which investors are allowed to attain land free of charge.
[1] Presidential Decree No. 158/2016 delineating the Industrial Sites that the State could grant to Investors Free of Charge, Official Gazette, Issue No. 13 (bis), 5 April 2016.
The President issued a decree delineating the industrial sites that the state could grant to investors free of charge (the "Decree").[1] This Decree brings into effect article 74 of Investment Law No. 8 for 1997, which has been amended in 2015. The article states that land may be allotted to investors free of charge as per the regulations that are to be issued by the cabinet. The article also stated that these lands are to be specified in a presidential decree.
The recently issued Decree delineates the aforementioned lands. What remains to fully effectuate the mandate of article 74 is for cabinet to issue a decree detailing the rules and conditions according to which investors are allowed to attain land free of charge.
[1] Presidential Decree No. 158/2016 delineating the Industrial Sites that the State could grant to Investors Free of Charge, Official Gazette, Issue No. 13 (bis), 5 April 2016.