FTW Pick: New American act protects Agoa, investors are told
1 Nov 2018 - by
Investors interested in the American market should acquaint themselves with the recently ratified Better Utilisation of Investment Leading to Development (Build) Act as it may help to assuage fears about the African Growth and Opportunity Act (Agoa).
According to Robert Kayihura, a special adviser with law and policy firm Covington & Burling, in terms of the act passed on October 5 the US Congress has earmarked $60bn “to essentially shore up incentives that were put in place by Agoa”.
Speaking at a Select USA event hosted by the Johannesburg Chamber of Commerce and Industry last week, Kayihura commented: “The Build Act is intended to continue in the spirit of Agoa and although it’s a broad piece of legislation that has a fair amount of complexity it’s worth examining more closely because if anything it will amplify what Agoa means.”
In the meantime fears about Agoa remain in light of US President Donald Trump’s protectionist policies.