The Law authorizes private investments with a value of equal to or more than USD 1 million. It also stipulates tax, customs benefits and other incentives and guarantees for both foreign and domestic private investments. There are penalties for non-compliances with the provisions of the law. For instance failure to carry out projects within stipulated deadlines established in the investment authorizations is subject to penalties. The law has also created the national Private Investment Agency (ANIP) whose responsibilities include evaluating and facilitating proposed private investments.