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AGREEMENT ON THE PROMOTION AND RECIPROCAL PROTECTION OF INVESTMENTS BETWEEN THE REPUBLIC OF ANGOLA AND THE KINGDOM OF SPAIN
Presidential Decree 109/21, of 29 April 2021, enacting the Agreement on the Promotion and Reciprocal Protection of Investments between the Republic of Angola and the Kingdom of Spain (the “Agreement”), came into force on its date of publication, 29 April 2021.
The Agreement aims to strengthen the economic relations between the Government of the Republic of Angola and the Kingdom of Spain (hereinafter "States") by creating private investment-friendly conditions in both States.
The Agreement applies both to investments predating or postdating its effective date.
The Agreement’s entry into force will afford private investors greater protection when implementing their investments. The States must secure, where applicable, any permits that consultants and qualified personnel may need to perform their duties, irrespective of their nationality.
The following are among the most important guarantees provided under the Agreement:
The Agreement will remain in force for 10 years and may be extended for equal periods, unless terminated earlier by either State.