Investment Guarantees in Niger

The investment code of Niger offers the following guarantees.

General Guaranties

Article 2 : The Republic of Niger ensures a constant protection, in both legal and judicial points of view, for all private investments contributing in the realisation of these economic and social development programs.

Article 3 : Natural persons or legal entities, performing an activity in any of the sectors mentioned in the article 9, whatever their nationality, receive the same treatment, in accordance with the provisions of treaties and agreements signed by the Republic of Niger and other states.

Article 4: Natural persons or legal entities mentioned in the above article 3 may, in the framework of the laws in force, acquire and exercise all rights of any nature concerning the property of concession and administrative authorisations, as well as tender to public contracts.

Article 5 : Natural persons or legal entities nonresident in terms of the exchanges regulation, who realise an investment in Niger financed in convertible foreign currencies, may obtain, according to this regulation, some transfers of revenues of any kind, issuing from the invested assets and the product of the investment’s settlement. May also be operated any transfers to natural persons or legal entities, nonresident corresponding to normal and current payments for the effective supplies and deliveries

Article 6 : The settlement of disputes related to the validity, interpretation or the application of the deed of agreement and the possible determination of compensation due to the ignorance or violation of the commitments will be subject to one of the arbitration procedures hereinafter to be determined in the deed of agreement.

1°) The constitution of an arbitration board by :

– The appointment of an arbitrator by each of the parties;

– The appointment of a third arbitrator by the two first arbitrators.

In case that one of the parties would not have appointed an arbitrator in the sixty (60) days of notification by the other party of his appointed arbitrator, and in case that the two first arbitrators could not come to an agreement on the choice of the third arbitrator in the thirty (30) days of the designation of the second arbitrator, the designation of the second or the third referee, as may be the case, will be done by the President of the Supreme Court on the initiative of the more diligent party.

The arbitrators will fairly give a verdict.

The sentence given by the majority of arbitrators will be final and binding.

2°) The possibility for the non national to remedy to International Centre for the Settlement of Disputes Related to Investments (ICSDI) created by the convention dated march 18th, 1965 of the International Bank for Reconstruction and Development (lBRD).

Article 7: Except in case of public utility provided by the law, Niger Republic shall guarantee to enterprises established or to be established that no measure of expropriation or nationalisation of investments will be taken.

The eventual measures of expropriation or of nationalisation give right to a just and equitable compensation.

http://www.embassyofniger.org/docs/otherofficialdocs/CodeInvestment.pdf

About The Author

John Muhaise-Bikalemesa (JMB), is the founder of Muhaise.com blog and bigdrumassociates.com company. Learn more about him here and connect with him on his social medias below

Related posts

Contact Us

https://www.facebook.com/fortuneofafrica.com