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Malta: Government Passes Three Laws to Encourage Blockchain Technology

(Aug. 31, 2018) On July 4, 2018, the Maltese government enacted three laws whose goal is to make Malta a haven for projects that rely on blockchain and other distributed ledger technology (DLT). The Malta Digital Innovation Authority Act (MDIA Act), Innovative Technology Arrangements and Services Act (ITAS Act), and Virtual Financial Assets Act (VFA […]

European Union: New Rules for Money Market Funds

(Aug. 31, 2018) On July 21, 2018, new rules to make money market funds (MMFs) more resilient against financial market difficulties, reduce the risk of runs, and limit cross-border contagion began applying to newly issued MMFs in the European Union (EU). Existing MMFs must show compliance by January 21, 2019. MMFs are mutual funds that […]

Egypt: President Ratifies Law Amending Residency and Citizenship Laws

(Aug. 27, 2018) On August 14, 2018, Egyptian President Abdel Fattah al-Sisi ratified Law No. 173 of 2018, which allows foreign nationals who deposit at least 7 million Egyptian pounds (EGP) (about US$391,000) in local Egyptian banks to be granted a five-year residency and the opportunity to apply for Egyptian citizenship. (Law No. 173 Amending […]

Indonesia: Plan to Issue Regulation Requiring Local Sourcing of Materials

(Aug. 29, 2017) Indonesia’s President Joko Widodo (also called Jokowi) has announced plans to issue a new regulation requiring the use of local materials in all products made in Indonesia. According to Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan, who spoke on August 1, 2017, the regulation has been drafted and will be issued “within […]

Indonesia: Local Content Rules for Electronic Products

(Sept. 15, 2016) On July 26, 2016, the then Indonesian Minister of Industry, Saleh Husin, signed a new regulation on local content requirements for laptop computers, smartphones, and tablets; it became official the next day. (Permenperin [Regulation of the Ministry of Industry] No. 65, 2016, on Conditions and Procedures for Calculating the Value of the […]

Indonesia: Regulation to Encourage Investment in Industry

(Jan. 13, 2016) On December 28, 2015, the Government of Indonesia issued a new regulation that is expected to increase investment in developing industrial zones. The new legislation replaces parts of Government Regulation No. 24/2009, on industrial zones. Speaking on January 5, 2016, Imam Haryono, Director General for Industrial Region Development of the Ministry of […]

Angola: New Private Investment Law

(Aug. 27, 2015) On August 11, 2015, Angola published in its Official Gazette a new private investment law, which was approved by Law No. 14 of August 11, 2015 (Lei do Investimento Privado, Lei No. 14/15, de 11 de Agosto, IMPRENSA NACIONAL (from the drop down window, click on Diário da República Ia. Série No. […]

Montenegro: Reform of Tax System Announced

(Feb. 11, 2015) Montenegro, a small nation in southeastern Europe that become independent from Serbia on June 3, 2006, published an economic reform program for the years 2015-2017 on February 3, 2015. (Ivana Kireta, Montenegro: Tax Reform Announced (Feb. 5, 2015), TAX NEWS SERVICE, IBFD online subscription database; Central Intelligence Agency, Montenegro, in WORLD FACTBOOK […]

Italy: Measures to Foster Banking System and Promote Investment

(Feb. 10, 2015) Italy’s cabinet has approved new measures, contained in Legislative Decree No. 3 (D.L. No. 3), aimed at bolstering the national economy, in particular the banking and investment sectors. (Legislative Decree No. 3 of January 24, 2015, Urgent Measures for the Banking System and Investment, GAZETTA UFFICIALE (G. U.) No. 29, NORMATTIVA (in […]

China: Guidelines on Public-Private Partnerships Issued

(Dec. 23, 2014) On December 2, 2014, China’s National Development and Reform Commission (NDRC) issued the Guiding Opinions on Carrying Out Public-Private Partnerships. (Guojia Fazhan Gaige Wei Guanyu Kaizhan Zhengfu he Shehui Ziben Hezuo de Zhidao Yijian (Guiding Opinions), Fa Gai Tou Zi [2014] No. 2724 (Dec. 2, 2014), NDRC website.) Two days later, on […]