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Introduction
International Business Laws governs the expansive areas of international commerce, business and consumer transactions. Many countries have developed laws dealing with specific fields of International Business. These fields include; Banking, Contracts, Sales and Arbitration.
Main Text
In order to position itself as one of International Business Center, Egypt has developed sets of laws governing International Business transactions, some aimed at encouraging foreign investments while other spells out rules of engagement in International Investments.
Investments Guarantees and Incentive Law, No 8 of 1997, is a law that regulates investments in Egypt. The law provides constructive incentives and guarantees for investors. These incentives include; reduced custom duties, tax holidays, guarantee against sequestration and expropriation. The law also gives guarantees regarding repatriation of capital and profit and also takes care of foreign exchange. The law also regulates the public and privates free zones regimes.
Another Important Law is Law no 83 of 2000, which establishes special economic zones in rural areas for setting up of agricultural and industrial services. Law no. 158 of 1998, Capital Market Law, is a law that institute protection of investors from price manipulation, frauds and insider trading. The commercial Law of 1999 was enacted to govern issues related to banking transactions, general commerce, commercial contracts, bankruptcy and commercial papers.
Egypt government agency, General Authority for Investments (GAFI) is the body concerned with review of all business and commerce Laws.
Chile has also positioned itself as one of the main player in South America foreign investments destination. Chile Foreign Law, Degree Law 600, spells out most of the laws concerning investments by foreigner or Chilean Private Individuals residing abroad.
Under the Degree Law 600, various issues are covered, these includes; Capital and profit remittance, foreign investments benefits, Tax invariability, general business partnership and dispute resolution.
Under the Degree Law 600, there are agreements that are guarantees investors easy access to foreign exchange market and remittance of capital and net profits to where it originates.
Reference
Baker & Mackenzie (2004) Doing Business in Chile, Web.
International Business Laws, Web.
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