Employment of foreigners must be approved by the Department of Immigration. Investors are required to disclose proprietary information to the Government only if they wish to register patent rights. There are limitations on foreign investment such as requirements for minimum investment amounts. Foreigners are excluded from investing in cottage industries, small enterprises, agriculture, alcohol, cigarettes, defence and industries which present a health hazard. Foreigners cannot participate in other than industrial activities which are defined to include service.
Private entities have the right to acquire and dispose of interests in business enterprises freely.
The Government is moving towards competition between private and public enterprises. Most of the former public monopolies in banking, domestic airlines and trade have already been removed. The legal system protects property rights. According to Government officials, patent rights are also protected but the same cannot be said in general of intellectual property rights in that existing rules are not effectively enforced. Patent registration is valid for seven years and can be extended for an additional seven years for a total of 14 years.