Some Service Contracts Exempt From Ministry Evaluation Requirements
19 Sep 13
As of Aug. 28, some foreign service contracts no longer require the approval of a Ministry of Economy evaluation committee. According to Presidential Decree No. 123/13, technical or management service contracts may be exempt if they are:
- Worth 300,000,000 Angolan kwanza or less, ordered by companies that provide services to the petroleum industry and hold registration or a contract with the Ministry of Petroleum.
- Worth 100,000,000 Angolan kwanza or less, ordered by companies that are unassociated with the petroleum industry.
Exempt contracts must still be reported to the Ministry of Economy. In addition, the decree introduced new reporting requirements. When reporting exempt service contracts to the ministry, companies must now include details about:
- Training initiatives.
- Technology and knowledge transfer.
- Development of skills within the local labor market, the fulfillment of which may be subject to review by labor market regulatory authorities.
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