C. Mozambique
1. Foreign Exchange
Through Decree No. 83/2010, of December 31, 2010, the Council of Ministers approved a new set of Foreign Exchange (Forex) Regulations aimed at liberalizing payments associated with regular goods and services transactions between Mozambican and foreign companies. Unlike capital transactions, these transactions will no longer [be] subject to prior approval from the Central Bank, but must be registered with the Central Bank.
2. Mining
Through Decree No. 20/2011, the Council of Ministers enacted new Regulations for the Marketing of Mineral Products. Under the new Regulations, the Ministry of Mineral Resources shall be responsible for the award of three different categories of marketing licenses for renewable periods of five years.
3. Real Estate
By means of Ministerial Statute No. 158/2011, of June 15, 2011, the Ministers of Agriculture and of State Administration have adopted a set of specific procedures for the mandatory consultation of local communities regarding the awarding of land use and exploitation rights relating thereto.
4. Oil & Gas
Decree No. 56/2010, of November 22, 2010, enacted The Environmental Regulations for Petroleum Operations, which set forth the specific rules, procedures and content guidelines applicable to environmental impact assessments in respect of petroleum operations. The environmental licenses granted for petroleum operations are valid for a period of five years, being renewable for additional five-year period.
