AnnouncementAny existing foreign investor engaging in the aforementioned sector(s) should cease their operations immediately. The aforementioned restriction will come into force on the date of this announcement.

Areas restricted for foreign investors under Business Registration Regulation

As per Section (A) Clause 29 of the Business Registration Act (Law No. 18/2014), and Section 4 (b) of the Business Registration Regulation (Regulation No. 2014/R-168), below are restricted areas for foreign investors.

1. Event Management, Entertainment and Production Industry, and the below listed sub-sectors; 

a)      Leasing Audio-visual equipment, (sound, lighting, video, led lights, and other related equipment)

b)      Leasing and selling of musical instrument(s) and equipment(s);

c)      Works related to the installation, and maintenance, stated in (a) and (b) of this announcement;

d)      Entering to agreements to service and facilitate activities stated in (a) and (b) of this announcement;

e)      Event management (overseeing and management of events and celebration);

f)       “Productions” related to Special Occasions;

g)      Managing and overseeing any activity related to the above listed clauses.

____________________________________________________________________

      27-Ramadan 1439

12th June 2018