government of mauritania

The Ministry of Economys Office of Procurement Commission of the Economic and Finance Sectors is the government agency that reviews tender bids in accordance with the law and regulations. In principle, government policies encourage the free flow of financial resources and do not place restrictions on access by foreign investors. Since 2011, three of Mauritanias largest mining companiesKinross, Mauritanian Copper Mines (MCM), and SNIMfunded a School of Mining with the goal of increasing the number of qualified Mauritanians to serve in the mining industry. If two offers, i.e., one from a foreign company and one from a Mauritanian company, are otherwise considered equal, statutes require that the government award the tender to the Mauritanian company. The government imposes performance requirements as a condition for establishing, maintaining, or expanding an investment, or for access to tax and investment incentives. Based on the audit report findings, a parliamentarian committee was set up to further investigate four major government infrastructure and fisheries projects that were awarded to Chinese companies. While labor is abundant, there is a shortage of skilled workers and well-trained technical and managerial personnel in most sectors of the economy. Bp plc (London) signed a Memorandum of Understanding (MoU) with the Government of Mauritania under which it will deliver an innovative programme exploring the potential for This LPI sub-factor covers the quality and performance of ports, roads, railroads and information technology. In 2017, Kosmos Energy provided financial support to Diawling National Park in the southern part of country, and in 2018 Kosmos launched the Kosmos Innovation Center in Mauritania. During the review period, the government made accounting budget bills widely and easily accessible to the public, including online. Settling disputes through the courts remains a long and complicated process. The Mauritanian judicial system combines French and Islamic (Malikite school) judicial systems. The NAP is a three-year plan supported by $2.6 million from the United Nations Green Climate Fund (GCF). The government continues to prioritize foreign investment in all sectors of the economy and is working closely with the International Monetary Fund (IMF), the World Bank, and the international donor community to improve basic infrastructure and to update laws and regulations. Since Kosmos Energy discovered a large natural gas deposit off the coast of Mauritania and Senegal in 2014, interest in Mauritanian offshore energy has exploded. Foreign Direct Investment and Foreign Portfolio Investment Statistics, http://www.transparency.org/research/cpi/overview, https://www.globalinnovationindex.org/analysis-indicator, https://apps.bea.gov/international/factsheet/, http://data.worldbank.org/indicator/NY.GNP.PCAP.CD, Host Country Gross Domestic Product (GDP) ($M USD), U.S. FDI in partner country ($M USD, stock positions), Host countrys FDI in the United States ($M USD, stock positions). Contact at the government agency or agencies that are responsible for combating corruption: Cour Des Comptes Mauritanie ( https://www.ilo.org/africa/countries-covered/mauritania/WCMS_835859/langen/index.htm). The Government of Mauritania has a strong interest in improving the effectiveness and accountability of its criminal justice sector and it is eager to play a regional role, working with If you remove this, it'll log you out. Judgments of foreign courts are not consistently applied. The Central Bank holds regular foreign exchange auctions, allowing market forces to fix the value of the ouguiya. Now they have been replaced by cookielawinfo-* cookies. This cookies is needed to have you logged into the WP system to ensure you are able to use our site properly. Anja-Isabel Dotzenrath, bps executive vice president of gas and low carbon energy, said: We are already developing one of the worlds most innovative gas projects with the support of the Mauritanian government. Mauritania does not have a bilateral investment agreement or bilateral taxation treaty with the United States. The United States Government, through USAID, has a long-standing partnership with the Government of Mauritania in various areas of health. The Land Registry Agency performs due diligence prior to making the final title transfer. Speaking yesterday at COP27, Thierry Lepercq, Founder and President, HyDeal, said Mauritaniais showing the way on hydrogen. There are no laws in place on local data storage. There are no legal or policy restrictions on converting or transferring funds associated with investments. Tank Storage Magazine is published by Easyfairs UK Ltd. Mauritania has not suffered a terrorist attack on its soil since 2011. Judgments of foreign courts are recognized by local courts, but enforcement is limited. Investors should be fully aware of the history of the lands they are purchasing or renting and should verify that the local partner has the proper authority to sell/rent large tracts of landparticularly in this regionbefore agreeing to any deals. The project is not expected to have a negative impact on the U.S. economy. This cookie is used to store the language preferences of a user to serve up content in that stored language the next time user visit the website. On October 20, 2021, President Ghazouanis cabinet adopted the implementing decree for the Law on Associations (NGO Law), which was adopted by the Parliament in January 2021. The criteria and procedures by which the government awards natural resource extraction contracts or licenses are specified in Mauritanias investment code, mining code, and a new hydrocarbon law. | Diversity Inclusion & Equity, Asahi Kasei starts construction of alkaline electrolysis pilot plant for hydrogen production, KBR and Tractebel to help Engie deliver Australias first industrial scale green hydrogen project, Bloom Energy inaugurates electrolyzer production line in Delaware, Alfa Laval supplies heat exchangers to the worlds largest green hydrogen plant, Test Your Knowledge: Focus on Jacketed Vessel Heating, Faculty Position Weldon School of Biomedical Engineering - Purdue University Weldon School of Biomedical Eng. In 2018, the Central Bank of Mauritania lost all correspondent banking relationships with banks in the United States due to de-risking policies enforced by U.S. banks. The Investment Code provides three main preferential tax regimes: Small and Medium Enterprises Regimes, which apply to any investment between USD 167,000 and USD 667,000; Free Export Zones/Clusters of Development; and Targeted Industries, which includes agriculture, artisanal fishing, tourism, renewable energy, and raw material processing. Invitations for some tenders are publicly announced in local newspapers and on government websites. Abdessalam Ould Mohamed Saleh, On November 2021, Mauritania joined the Inclusive Framework on BEPS and participates in the agreement to address the tax challenges arising from the digitalization of the economy. The most recent investment dispute between the Mauritanian government and a foreign investor occurred in 2021. Budget documents were generally prepared according to internationally accepted principles. 2020 Easyfairs UK Ltd | 2nd Floor, Regal House | 70 London Road | Twickenham | TW1 3QS | United Kingdom | Registered in England No. The criteria and procedures by which the government awards natural resource extraction contracts or licenses are specified in Mauritanias investment code, mining code, and a new hydrocarbon law. There are no investment restrictions on domestic investors from investing abroad. This new code will help the government become more transparent in handling tenders. All information regarding the property titles is available at the Land Registry Agency housed at the Ministry of Housing, including information related to mortgages and other tax related matters. It is set to produce around 2.3 million tonnes of LNG per year, with sufficient resources to support production for over 20 years. Mauritania is increasingly open to foreign direct investment (FDI). The International Labor Organization (ILO) reported in 2018 that a significant pay gap between staff in the labor inspectorate and staff in other government inspection departments who receive better remuneration (such as tax inspectors or education inspectors) led to attrition. ProPEP aims to boost the economy and improve the living conditions of vulnerable populations by reducing extreme poverty, expanding basic socio-economic infrastructures, organizing the information sector, and adopting a regulatory framework conducive to private sector development. In addition, agreements also exist with Burkina Faso, Cameroon, the Gambia, Ghana, Mauritius, Italy, Lebanon, Qatar, Yemen, Korea, and Egypt. Earlier this year, bp also announced the signature of an Exploration and Production Sharing Contract for the BirAllah gas resource in Mauritania. In practice, this has resulted in contracts awarded to companies that have strong ties to government officials and tribal leaders, regardless of the merits of an individual offer. Transparency International has a representative who reports on local corruption policies and events. The bankruptcy law allows for the reorganization or restructuring of a business. There are no other practices by private firms to restrict foreign investment. Agreement on trade and economic cooperation between the Government of the SFRY and the Government of the Islamic Republic of Mauritania. The funds mandate is to create macroeconomic stability by setting aside oil revenues for developmental projects. Corruption is most pervasive in government procurement, bank loans, fishing license attribution, land distribution, access to port facilities and tax payments. The legal protection of intellectual property rights (IPR) is still a relatively new concept in Mauritania. The school is considered a public entity under the Ministry of Oil, Energy, and Mines. Investors are guaranteed the free transfer of convertible currencies at the legal market rate, subject to availability. The government accepts international arbitration of investment disputes between foreign investors and government authorities. Similarly, foreigners working in Mauritania are guaranteed the prompt transfer of their professional salaries. Building on bps existing strong relationships with the country, the agreement could be an important step towards the development of However, there is a complex and often overlapping system of permits and licenses required to establish and run a business. However, the Mauritanian governments efforts to meet the challenges of food self-sufficiency provide an opportunity for U.S. agro-businesses to engage with Mauritania through supplies and equipment sales, as well as technical training. In addition to APIM, the Economic Governance and Investment Management Support Project (PA2GI) an African Development Bank project active from 2021-2024 will prioritize public and private investment in strategic sectors of the Presidents Economic Recovery Plan (ProPEP). Coordinator for the Arctic Region, Deputy Secretary of State for Management and Resources, Office of Small and Disadvantaged Business Utilization, Under Secretary for Arms Control and International Security, Bureau of Arms Control, Verification and Compliance, Bureau of International Security and Nonproliferation, Under Secretary for Civilian Security, Democracy, and Human Rights, Bureau of Conflict and Stabilization Operations, Bureau of Democracy, Human Rights, and Labor, Bureau of International Narcotics and Law Enforcement Affairs, Bureau of Population, Refugees, and Migration, Office of International Religious Freedom, Office of the Special Envoy To Monitor and Combat Antisemitism, Office to Monitor and Combat Trafficking in Persons, Under Secretary for Economic Growth, Energy, and the Environment, Bureau of Oceans and International Environmental and Scientific Affairs, Office of the Science and Technology Adviser, Bureau of the Comptroller and Global Financial Services, Bureau of Information Resource Management, Office of Management Strategy and Solutions, Bureau of International Organization Affairs, Bureau of South and Central Asian Affairs, Under Secretary for Public Diplomacy and Public Affairs, U.S. On March 11, 2021, former President Mohamed Ould Abdel Aziz and 14 other suspects were charged for mismanagement of State property and resources, bribery, illicit enrichment, and money laundering. In January 2020, the government opened a new international center for mediation and arbitration. And we now intend to expand our partnership into low-carbon energy by exploring the potential for a world-leading green hydrogen development, which could Tax evasion and corruption have deprived the government of a significant source of revenue, weakening its capacity to provide necessary services. Specifically, Mauritania has also developed a National Adaptation Programme of Action (NAPA) (2004). The center provides an alternative legal office for settlement of investment disputes and allows arbitration and mediation from international courts. Advisory Commission on Public Diplomacy, 1. The government is in the process of launching reforms related to property, product certification, and accreditation bodies to protect IPR. On January 17, 2022, with the support of the ILO, the Mauritanian Government banned hazardous child labor. In that case, the two parties agreed on a compensation plan. Historically, corporate social responsibility in Mauritania is not a widespread practice. The government mandates that companies may employ expatriate staff in no more than 10 percent of key managerial staff positions, in accordance with the Labor Code and are required to have a plan in place to Mauritanize expatriate staff positions. A former French colony, Mauritania achieved independence from France in 1960. Anja-Isabel Dotzenrath, BPs executive vice president of gas and low carbon energy says: We are already developing one of the worlds most innovative gas projects with the support of the Mauritanian government. Giving or accepting a bribe is a criminal act punishable by two to 10 years imprisonment and fines up to USD 700, but there is little application of this law. Mauritania - Life expectancy at birth. 64.9 (years) in 2019. In 2019, life expectancy for Mauritania was 64.9 years. Life expectancy of Mauritania increased from 50.4 years in 1970 to 64.9 years in 2019 growing at an average annual rate of 0.52%. The description is composed by our digital data assistant. In March 2021, the government created the Agency for Promotion of Investment in Mauritania to facilitate the administrative work of foreign investors. The constitution guarantees the independence of the judiciary (Article 89), and a law also protects judges from undue influence. Military Council for Justice and Democracy. There is no U.S. procurement associated with this project, and, therefore, the project is expected to have a neutral impact on U.S. employment. If imported dumped goods are deemed to be competing unfairly with a priority enterprise, the government will respond to industry requests for tariff surcharges, thus providing some potential protection from competition. According to the Public Procurement Code, there are no formal barriers to competition with SOEs. Similarly, foreigners working in Mauritania are guaranteed the prompt transfer of their professional salaries. Companies established in free zones are exempt from taxes on profits for the first five years. This increase in fiscal reserve risk led the government to provide subsidies to SOEs. In March 2020 the Central Bank of Mauritania (BCM) announced the reduction in interest rate on credit from 9 percent to 6.5 percent as part of measures aimed at counter the effects of COVID-19 on the countrys economy. Openness To, and Restrictions Upon, Foreign Investment, Policies Towards Foreign Direct Investment, Limits on Foreign Control and Right to Private Ownership and Establishment, 2. Laws and decrees related to commercial and financial sectors exist, but they are not always publicly available. Islamic Republic of Mauritania said: The Government of Mauritania has put the exploitation of its immense renewable resources as a top priority in line with the commitment of his excellency the President of the Republic to promote accelerated, sustainable, and equitable economic growth for all the people of Mauritania. In principle, government policies encourage the free flow of financial resources and do not place restrictions on access by foreign investors. There remains a large percentage (over 10 percent) of land without a clear title. Quantserve sets the mc cookie to anonymously track user behaviour on the website. Laws and Regulations on Foreign Direct Investment. Ministry of Energy (Mauritania) Ministry of Foreign Affairs (Mauritania) Ministry of Justice (Mauritania) Ministry of the Interior and Decentralization The Central Bank is required to prioritize government transfers, which could present further delays. To further expedite the business registration process, the government moved the one-stop shop Guichet Unique from the Nouadhibou Free Trade Zone Authority ( http://www.ndbfreezone.mr/) to become a stand-alone unit ( https://www.guichetunique-mr.info/) that is mandated to help set up companies and complete all business registration. Mauritania submitted its updated National Determined Contribution (NDC) in October 2021 primarily focusing on increasing Mauritanias resilience to climate change through the promotion of low carbon growth, while increasing adaption for low lying coastal areas, upgrading infrastructure, and strengthening the countrys food security position. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. The Nouadhibou Free Trade Zone has its own regulatory structure. To register a property, owners need to have their notarized sale agreement along with the title certificate. Helps WooCommerce determine when cart contents/data changes. 03 / Select Countries You can add more than one country or area. The Central Bank performs yearly audits of Mauritanian banks. In the past, issues were referred to the International Center for Settlement of Investment Disputes (ICSID), of which Mauritania has been a member since 1965. The then Minister of Labour, Employment, Social Affairs and Veterans Affairs Z. Djordjevi Specialized commercial law courts exist, but sometimes judges lack training and experience in commercial and financial law. Table 4: Sources of Portfolio Investment The only known case of expropriation since Mauritanias independence was the nationalization of the French mining MIFERMA in November 1974. These companies provide advanced training for their employees. The country has bankruptcy laws which carry the potential for criminal penalties. Mauritania is a signatory to the Cotonou Agreement between the European Union (EU) and the group of African, Caribbean and Pacific (ACP) countries, and thus enjoys free access to the EU market. The Investment Code provides three main preferential tax regimes: Small and Medium Enterprises Regimes, which apply to any investment between USD 167,000 and USD 667,000; Free Export Zones/Clusters of Development; and Targeted Industries, which includes agriculture, artisanal fishing, tourism, renewable energy, and raw material processing. To register a property, owners need to have their notarized sale agreement along with the title certificate. China, France, Spain, Japan, and the United Arab Emirates are the main trading partners. With more substantial support, Mauritania could ensure carbon neutrality and potentially reach a 92% reduction of its greenhouse gas emissions. A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface. The development of this innovative offshore project on the border of Mauritania and Senegal was approved in 2018. In 2019, Mauritania implemented the Commune Tariffs Agreement ECOWAS countries. Giving or accepting a bribe is a criminal act punishable by two to 10 years imprisonment and fines up to USD 700, but there is little application of this law. 18 years of age; universal [see also: Suffrage country ranks ] Executive branch: chief of state: President Mohamed Cheikh El GHAZOUANI (since 1 August 2019) head of government: Prime Minister Ould Bedda Ould Cheikh SIDIYA (since 5 August 2019) cabinet: Council of Ministers - nominees suggested by the prime minister, appointed by the president The Central Bank administers the National Fund for Hydrocarbon Reserves, a sovereign wealth fund (SWF), which was established in 2006. The government is hoping this move to create an independent one- stop shop will serve to further encourage FDI. The International Labor Organization (ILO) reported in 2018 that a significant pay gap between staff in the labor inspectorate and staff in other government inspection departments who receive better remuneration (such as tax inspectors or education inspectors) led to attrition. There is no limit on the inflow or outflow of funds for remittances of profits, debt service, capital, or capital gains. This website uses cookies to improve your experience while you navigate through the website. There are no restrictions on employers reducing their workforce in periods of unfavorable market conditions. The president, elected by popular vote for a five-year term, is head of state and government and is assisted by the prime minister , whom he appoints. Government incentives toward promoting outward investment remain limited. 28 November 1960. It does not store any personal data. The claim brought to the ICSID was registered on March 4. BP will initially carry out a data collection campaign with studies assessing the suitability of wind and solar resources in selected locations for large-scale renewable power generation and green hydrogen production. Mauritania is not eligible for benefits under the U.S. African Growth and Opportunity Act (AGOA) due to insufficient progress toward combating forced labor. Private entities, whether foreign or national, have the right to freely establish, acquire, own, and/or dispose of interests in business enterprises and receive legal remuneration. But, many have operated at a loss since the 1970s and failed to provide the services for which they were responsible. The NAP will improve quality and access to climate change data and enhance the monitoring and evaluation of adaptation planning at the national and local levels. It is likely that domestic courts would favor SOEs during a dispute. Formation. The judiciary system moved forward with the investigation during the 2021 reporting period. Bp plc (London) signed a Memorandum of Understanding (MoU) with the Government of Mauritania under which it will deliver an innovative programme exploring the potential for large-scale production of green hydrogen in the country. SOMELEC, the state-owned electricity company, has been operating in a precarious financial situation for many years. For example, in January 2014, rural communities around Boghe (300 kilometers southeast of Nouakchott) alleged as expropriation the signing of an agreement with the Saudi Arabian Al Rajhi Bank that granted permission for the Bank to cultivate 31,000 hectares in Brakna and Trarza provinces. See section 2 Bilateral Investment and Taxation Treaties. In a statement, bp said the agreement built on existing strong relationships and could be an important step towards the development of significant green hydrogen production in Mauritania. In January 2018, the government of Mauritania introduced a new currency. Mauritania has thus developed a network of Sectoral Focus Points within ministerial departments to improve implementation of the objectives of the Convention. Current projects by foreign-owned companies include providing free water to local communities; building vocational training centers, health clinics, and roadways; and providing healthcare equipment and medicines to towns near company operations. This interest rate does not include origination costs and other fees. All rights reserved. As part of his annual speech to the parliament on January 29, Prime Minister Bilal presented a brighter picture of Mauritanias economic outlook highlighting the governments push to attract more investors. There is no requirement for investors to export a certain percentage of output or have access to foreign exchange only in relation to their exports. This cookie helps to keep track of the currency you're using on the site, so when you return it remains to what you've last set. Data not available. The investment code, which was last updated in June 2012, was designed to encourage direct investment by enhancing the security of investments and facilitating administrative procedures. Firms commonly pay bribes to obtain telephone, electricity, and water connections, and construction permits more quickly. bp and partners, including Mauritanias Socit Mauritanienne Des Hydrocarbures (SMH), are now working toward the completion of the Greater Tortue Ahmeyim (GTA) Phase 1 liquefied natural gas project. This cookie is set by Segment.io to check the number of ew and returning visitors to the website. The state prosecutor indicted 13 of them on bribery, money laundering, embezzlement, and obstruction of justice charges. Governance & Administration. H2FLY and Partners Mark a Significant Step Toward Zero-Emission Commercial Flight Following Developments of Liquid Tank Integration, Hyundai, Undisputed World Leader in Hydrogen Vehicles. In 2018, the Central Bank of Mauritania lost all correspondent banking relationships with banks in the United States due to de-risking policies enforced by U.S. banks. The cookie is used to store the user consent for the cookies in the category "Other. It is the first project developed under a Public Private Partnership scheme in Mauritania. Land concessions allocated to companies located in Free Economic Zones will follow a rental rate determined by joint decision of the relevant Minister and the Minister of Economy, which sets land allocation prices. Mauritanias major exports are iron ore (46 percent), non-fillet frozen fish (16 percent), and gold (11 percent). Mauritanias NAP aims to strengthen the countrys technical and institutional capacities to better manage climate change adaptation planning. Local banks had to adapt their software, change their checkbooks, and reconfigure their ATMs to bring them into compliance with the new currency. Publiez ce que vous payez (Publish What You Pay) Since taking office in August 2019, President Ghazouani has made fighting corruption one of the cornerstones of his administration. Mauritanias major exports are iron ore (46 percent), non-fillet frozen fish (16 percent), and gold (11 percent). Details of the claim have not been disclosed. In March 2021, the government created an Investment Promotion Agency within the Ministry of Economy. In addition, Law n2012-012 provides a model mining convention which serves as a reference in relations between the state and operators in the mining sector. In 1997, Mauritania became a signatory to the convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958 New York Convention). Additionally, under the provisions in the revised Investment Code, companies will not be taxed on patents, licenses, property, or land, but rather assessed a single municipal tax that cannot exceed an annual amount of USD 16,000. Most judgments are not issued within prescribed time limits and records are not always well maintained. Nationally, at the policy level, the countrys 2011-2016 planning framework (CSLPII, 2011-2016) included a vision on climate change with a plan of action considering the risks of climate change and a monitoring system (SEPANE 2). Meridiam SAS received USD 24,840,000 in DFC financing and political risk insurance. These trends are expected to worsen in the future based on current climate projections. Small and medium enterprises (SME), which register through OPPS, do not pay corporate taxes or customs duties. However, if a foreign enterprise is facing difficulties, the government can propose an expropriation plan to avoid bankruptcy and to protect jobs of local employees, with fair and equitable compensation.

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