The strategy of the Ministry of Labor
The strategy of the Ministry of Labor for the new Kingdom of Atlantis (Land of Wisdom) in concluding investment and international trade contracts
Investment contracts have become a basic pillar on which countries, institutions and individuals rely in order to achieve their commercial interests at the international level. Foreign companies began to invest in important sectors such as oil, minerals, manufacturing industries, and energy…. Until these contracts became the main tool in the conduct of international trade and an important means in cross-border exchanges, they were called economic development contracts.
Investment is a continuous development project that does not stop only when investing money with the intention of obtaining profit, but rather it is an integrated project in the field of agriculture, industry, tourism, service sectors, education and training…
Investment contracts have evolved and diversified due to:
- The speed, development and prosperity of world trade
The progress of the economy, the spread of the use of technology, and the ease of transportation
The increase in the volume of trade exchange, the expansion of the scope of international trade agreements and the spread of multinational companies.
In this sense, and in view of the establishment of the new Kingdom of Atlantis, the land of wisdom on the idea of opening up to the global market in international employment and investment, and in response to the requirements of the development of economic and investment concepts, the work strategy of the Ministry of Labor and Social Affairs is based on a deep and comprehensive vision that takes into account meeting the needs of our citizens And open all horizons of work and investment and support it for a decent life and in order to build a strong and open economy and comprehensive local and international investment. Building joint action strategies under the supervision and leadership of His Excellency President Dr. Muhammad Al-Abadi.
We present to you some concepts related to international investment contracts, their scope and importance:
What is an international investment contract?
There is no agreed definition among jurists of the investment contract, as most definitions tend to give preference to the economic aspect over the legal aspect. To avoid these differences, it can be said that the definition of an investment contract applies to what is generally accepted in international commercial contracts as: “a special international legal relationship governed by the contract law that was agreed upon and drafted by the parties.”
Fundamentals of investment contracts
The definition of investment varies from one agreement to another, but it is usually broad and includes all types of assets from:
- Transferable and non-transferable property and property rights
Shares and other interests in companies (the most used capital, such as equity investors in service companies)
Ownership or claims to money or contractual rights
Intellectual property rights
Privileges and other common law rights
The most important contracts in the field of international investment
International contracts evolve in response to the exigencies of contemporary life and the rapid change in technology. There are many types of contracts concluded by countries and companies according to the need of the host countries to implement their economic development plans, as well as the interest of the foreign investor who seeks to achieve profit and spread in the largest possible number of countries.
There are usually some typical contracts for investment, which countries conclude with foreign companies, through which the foreign investor is committed to transferring economic values to the host country.
The most important of these contracts are: petroleum, international public works, industrial cooperation…
1- Oil contracts:
These contracts are between the state with natural wealth and a foreign company that has the experience and capabilities to extract and market oil to obtain huge profits from these projects. These contracts often take two forms:
A- Concession contracts: These are between the country that owns the land and one of the giant companies, according to which the company is granted the right to explore for oil and exploit it for a specified period of time. These contracts are usually for the benefit of foreign companies because they dominate everything.
B- Partnership contracts: which the state concludes with the foreign company, and the state participates in part of the capital, and this participation has its effect in terms of enabling the state to exercise a kind of management within the company. As well as exercising control over their natural resources.
2- Build, operate and transfer contracts
The United Nations Commission on International Trade Law (UNCITRAL) defined these contracts as “a form of project financing whereby a government grants for a period of time one of the private financial unions (the project) the privilege to implement a specific project, and the company builds, operates and manages it for several years so that it recovers costs and makes profits. To operate the project, and at the end of the concession period, the ownership of the project is transferred to the government.
Governments, especially in developing countries, give those who wish to invest in infrastructure projects or public utilities, individuals or companies, especially giant companies, the opportunity to set up the project, and the investor bears the burdens of financing large projects from purchasing and supplying the project with machinery, equipment and advanced technology, in addition to operating expenses, in exchange for the investor receiving Revenues from operating the project during a period known as the concession period. After the concession period expires, the project transfers all its movable and immovable assets to the state, or renews the lease contract for this company. These contracts often include the construction of bridges, communication networks, power stations, and the construction of airports and hotels
Dr. Sawsan Mabrouk
Minister of Labor and Social Affairs of the Kingdom of New Atlantis (Land of Wisdom)
Sawsen Mabrouk corrispondent Project Roots Madenine Tunisia