An investment board screens all proposed investments, and usually makes its decisions within thirty days. The reviews appear routine and non-discriminatory, and applicants may appeal investment board decisions. There is no distinction in law between foreign and domestic investors. The privatization process is open to foreign bidders from the point at which companies are advertised. There are no restrictions on non-cash transactions, or transferring money into our out of the country.
Foreign exchange is available at market determined rates.
Investments may only be expropriated by an act of parliament relating to the specific property expropriated. The law states compensation must be at a fair market value, although the method for determining fair market value is ill-defined. There have been relatively few investment disputes since the MMD government took office in 1991. The investment code provides that disputants first resort to internal dispute settlement and then, failing that, the parties may go to international arbitration. The state recognizes international arbitration as binding.