The Public Chamber discussed the improvement of the investment climate

On Monday of January 27, the Working Group on Investment Activities of the DPR Public Chamber’s Commission for Economy Affairs held a meeting.

Chairperson of the People’s Council Committee for Budget, Finance and Economic Policy Marina Zheynova said that parliamentarians were making adjustments to the draft Law On Investment Activity, which was elaborated by the Ministry of Economic Development. In addition, there are working on the draft Law On State Support to Investment Projects.

“We are working on amendments to the Law On Public-Private and Municipal-Private Partnership, one of the legal instruments to regulate the investment activity,” Marina Zheynova noted

She added that other legislative initiatives in the field of investment attraction were being elaborated, such as the draft Laws On Financial Lease, On Auditing, On the Accounts Chamber of the Donetsk People’s Republic.

An entrepreneur from Ossetia noted that when drafting the legislation, special attention should be paid to the support to investors from the state.

“Donbass has highly qualified staff and you have a great potential. However, in order to attract investors, you need the state’s involvement and guarantees for them. I am talking about such changes as, for example, the changes to the tax system and logistics development,” the entrepreneur added.

During the meeting, chief of the working group Victoria Romanyuk submitted the Roadmap On Improving the Investment Climate and Investment Attractiveness of the Republic to the chairperson of the specialized committee’s review.

“At the moment the roadmap provides for 82 measures: a section of regulations, legislative acts that must be adopted (except for the Law On Investment Activity), a section on measures to remove administrative barriers (such as the simplification of urban planning, land documentation and other), as well as measures to demonstrate the investment attractiveness of the Republic and the expansion of investment policy instruments,” the PC member said.

“Members of the People’s Council specialized committee will review the road map and make their additions. In February, jointly with representatives of ministries and agencies, we will announce it and submit to the Government’s consideration,” Deputy Chairperson of the Public Chamber Ekaterina Martyanova informed the participants in the meeting.