Re: Ban a sad day for Samoa
All businesses with foreign shareholding are required under the Foreign Investment Act 2000 to acquire a Foreign Investment Certificate.
A formal letter along with the completed Foreign Investment Registration form must be submitted to the Ministry of Commerce, Industry and Labour, which requires the approval of the Chief Executive Officer.
This certificate is now renewing every year with appropriate fees. If the business is to be established as a Company, the Company Registration number and date of registration issued by the Registry of Companies are required before applying for a Foreign Investment Certificate.
Further, all foreign investors must not conduct any of the following business activities as they are reserved for Samoan Citizens only as indicated in
Schedule one (Reserved List) of the FIAA 2011:
1. Bus transport services for the general public;
2. Taxi transport services for the general public;
3. Rental Vehicles;
5. Saw Milling; and
6. Traditional elei garment designing and printing.
So my point being Salelologa is implementing the Policies in Place. Only locals may operate Retailing...
Go Salelologa go