Ecolex Logo
The gateway to
environmental law
Search results » Legislation

National Agency to Promote the Participation of Eritrean Citizens in the Ownership of Public Enterprises Establishment Proclamation (No. 171/2012).

Country/Territory
Eritrea
Document type
Regulation
Date
2012
Source
FAO, FAOLEX
Original source
Gazette Of Eritrean Laws, Vol 20/2012, No. 6 of 3 December 2012.
Subject
Agricultural & rural development, Land & soil
Keyword
Agricultural development Public participation Institution Foreign land tenure Size
Geographical area
Africa, Eastern Africa, Least Developed Countries, Red Sea & Gulf of Aden
Abstract

This Proclamation establishes the National Agency to Promote the Participation of Eritreans in the Ownership of Public Enterprises, defines its functions and powers and provides with respect to its administration. The Agency shall undertake, implement and ensure the participation of Eritreans living in Eritrea and abroad in national economic development activities through the direct transfer of ownership of Small Public Enterprises or of shares in Public Enterprises converted into share companies. The Agency shall be governed by a Board and shall be accountable to the President of the State of Eritrea. The Agency shall have the powers and duties to, among other things: (a) identify the Public Enterprises that shall be converted into share companies and/or those already existing as share companies that would offer shares to Eritrean citizens; (b) identify Small Public Enterprises the ownership of which shall be transferred to Eritrean business organizations, associations and individual citizens.

Full text
English