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Planning minister :" new corporate law before the end of this year"

2007-12-10

The planning Minster Dr.Samir Abdallah assured during the honouring event prepared by the PSE yesterday, that the government is about to finish preparing the new corporations law, and issue it as the origins to substitute the "Jordanian law 1964" which is contagious performed in west bank and the "Palestinian law 1929"  that is currently implemented in Gaza.Dr.Abdallah said " the government is occupied to review the investment environment that governs the capital market, and develop it to match the international modern measures" He added " this will include a processing of some restricted materials in income tax law to consolidate the Palestinian capital market competitiveness from the investment cost side, in order to encourage the establishments of funds in Palestine, This came during the Palestinian government"s plan to complete the laws and update the existing ones, including issuing mortgage and leasing laws and develop the investment promotion law". The doctor continued " the government is working to implement what is essential to promote the financial market, especially the supervision committees to perform with responsibility and openness and to maximize the investors protection". The minister also referred to the development and reformation plan that will  be presented in the donor"s conference in Paris in Dec,17 and said "the plan complied between budgeting, reformation and institutional building, under new governmental method based on unification and orientation of economic working in order to achieve national priorities".