Investment maps

31. The Ministry shall lay down the national investment map, in accordance with the policies and directives of the National Economic Planning Council; provided that the same shall include particular percentages, of the federal projects, in the states, and submit the same, to the Council of Ministers, for approving the same; provided further that the investment map shall include such sector investment maps, as may be prepared by the federal ministries and ministries of investment in the states.

Settlement of Investment disputes

32.(1) Saving such disputes, as may be governed by the provisions of the agreements set out in sub-section (2), where any legal dispute, relating to investment, arises, the same shall be submitted to conciliation, or arbitration .

(2) The provisions of the Investment of Arab Capitals, in Arab States, Consolidated Agreement, 1980, the Settlement of Investment Disputes, Between Arab States, Agreement, 1974, the Settlement of Investment Disputes, Between States and Citizens of other States, Agreement, 1965, the Economic, Technical and Trade Co-operation, Between States Parties, to the Islamic Conference Organization, General Agreement, 1977 and any such other agreement, in this respect, as the Sudan may be a party thereto, shall apply to every such legal dispute, as may directly arise out of any of such agreements.

Power to make regulations

33. The Council of Ministers , upon the recommendation of the Minister, may make such regulations, as may be necessary, for the implementation of the provisions of this Act. Without prejudice to the generality of the foregoing, such regulations may include the following matters :-

(a) specification of type and size of such projects, as may be granted preference privileges;

(b) laying down safeguards for the prevention of overlapping, between federal, state and local investments;

(c) specification of strategic and non-strategic projects;

(d) the procedure of applying, for the grant of licence and privileges, and specifying the type and size thereof;

(e) specifying services fees;

(f) the safeguards and bases, pertaining to control, and follow- up, of the projects licensed, under the provisions of this Act.

 

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