Foreign Investment Board:
The Foreign Investment Board, referred to in Article (6) of FIPPA.
The Board is responsible for investigating and making decision on all investment applications including applications for admission, importation and utilization of Foreign Capital as well as repatriation of capital and accrued profits.
The permanent members of the Board are the four deputy ministers specified in Article 6 of FIPPA, and the Board’s meetings require a quorum of at least three permanent members, and decisions shall be made with at least three positive votes. The deputies of other relevant ministries shall, upon invitation of the Chairman of the Board, attend the meetings with the right to vote. In such cases, decisions are made by the majority of votes cast.