Investment Promotion. 1. Each Contracting Party shall encourage in its territory, subject to its general policy in the field of foreign investment, the investments of investors of the other Contracting Party and admit them in accordance with its domestic law. 2. Each Contracting Party shall, in accordance with its domestic law, grant the necessary authorizations relating to investments referred to in paragraph 1 of this article, including the carrying out of licensing agreements and contracts for commercial, administrative, or technical assistance. 3. In order to create favourable conditions for assessing the financial position and results of activities related to investments in the territory of a Contracting Party, the latter, notwithstanding its own requirements for bookkeeping and auditing, shall permit the investment to be subject also to bookkeeping and auditing standards according to which the investor is subjected in accordance with its national laws or rules of internationally accepted accounting and drawn up by the International Accounting Standards Committee. The results of such accountancy and audit shall be transferred to the investor free of charge.
Appears in 5 contracts
Samples: Investment Promotion and Protection Agreement, Investment Promotion and Protection Agreement, Investment Promotion and Protection Agreement
