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(Jan 10, 2011) It was reported on January 3, 2011, that the Cape Verdean Council of Ministers (Cabinet) approved a new decree-law that will regulate the services sector of the country. The statute is expected to expedite services and improve the regulation of the sector; the Council's spokeswoman, Janira Hopfer Almada, was quoted as saying that the decree-law will enable the simplification and expeditiousness of the licensing process, resulting in decisionmaking and lower costs.

The decree-law is designed to empower micro and small companies, and was formulated pursuant to compromises Cape Verde made with the World Trade Organization to guarantee an increase in the country's competitiveness, economic growth, and creation of jobs.

The Council also approved another decree-law that authorizes companies doing business in the services sector to import goods for their exclusive use, as long as the import of goods is not their main activity, the commercialization of such goods being prohibited. According to the government, the decree-law is aimed at fighting unfair competition in line with the principle of economic freedom. (Cabo Verde Aprova Diploma para Regular Sector de Prestação de Serviços, NOTÍCIAS LUSÓFONAS (Jan. 3, 2011), http://www.noticiaslusofonas.com/view.php?load=arcvi
ew&article=29052&catogory=Cabo%20Verde
.)

Author: Eduardo Soares More by this author
Topic: Commerce More on this topic
Jurisdiction: Cape Verde More about this jurisdiction

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Last updated: 01/10/2011