May 29, 2015

Luanda — Cabinet Council approved Friday the Organic Statute of National Public Procurement Service, an entity responsible for supporting the head of Government to implement the public procurement policies.

This is contained in statement emerged from its 5th Ordinary Session, chaired by the Head of State, José Eduardo dos Santos.

The statute will also assist in monitoring, audit and supervision of public procurement procedures, as well as in drafting the rules, regulations and instructions on the matter.

In the matter related to adaptation of the process of the bodies structure integrating indirect administration of State to the legislation in force, the statement stresses that the Cabinet has reviewed the Organic Statute of the Public Business Sector Institute.

This is a technical body to support the Government in the fields of regulation and monitoring of public sector business activity, control and monitoring of management of public companies, execution of policy and privatization, restructuring and control of State investments.

Cabinet also approved the legal regime of the special levy on the exchange of invisible operations on transfers abroad for the payment of contracts for foreign technical assistance or management services by natural or legal persons based in national territory and public companies.

As for the capital market regulation, the statement noted that the session analysed

the draft Presidential Legislative Decrees that approve the legal systems of collective investment venture capital and asset securitization.

On the oil sector, the Cabinet Council approved the grant to the Oil Company “Sonangal EP” minerals rights to develop and produce gaseous hydrocarbons on Block 3/15-ALG.

The session also approved the granting of incentive governing artistic and cultural activities, a legal instrument that defines the rules on the provision of direct and indirect public incentives.