The Agreement signed between Portugal and Angola in February 2008 came into force.
Pursuant to the publication of Notice No. 23/2020 in the National Gazette, the Investment Protection Agreement signed between Portugal and Angola in February 2008 came into force on the 24 of April 2020.
The Agreement under reference sets out the rules and procedures to be adopted by the signatory States in what concerns the promotion and mutual protection of investments.
Among other relevant matters provided for in the Agreement, we point out the right of investors to transfer the income related to their investments (e.g. profits, dividends, interest and liquidation proceeds), as well as the existence of compensation mechanisms to be applied in cases of nationalization or expropriation.
It should be noted that the Agreement is only applicable to investments taking place after its entrance into force.
Finally, it should be appreciated that, from the Angolan State point of view, the Agreement in question is already in force since last March.
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