Hong Kong, Finland Sign Investment Agreement
by Mary Swire, Lowtax.net, Hong Kong
20 March, 2014
The Hong Kong Government announced that the Investment Promotion and Protection Agreement between the territory and Finland entered into force on March 16, 2014.
Under the IPPA, the two sides undertake to provide equal treatment of investors, compensation for any expropriation of investments, the free transfer abroad of investments, and a settlement in investment disputes in accordance with internationally accepted rules.
The agreement, which was originally signed in July 2009, will be effective for an initial period of 15 years, and will remain in force thereafter unless terminated by either party.
Hong Kong has so far signed 17 IPPAs with other economies – the Netherlands, Australia, Denmark, Sweden, Switzerland, New Zealand, Italy, France, Germany, the Belgium-Luxembourg Economic Union, Austria, Japan, South Korea, the United Kingdom, Thailand, Finland and Kuwait.
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