DPR to draw legislation on regulating investment activity – Pushilin

DPR to draw legislation on regulating investment activity – Pushilin

September 22, 2020 21:26

Donetsk, Sep 22 – DAN. Investment activity in the Donetsk People’s Republic will be regulated by law, the work on drawing documents has begun, DPR Head Denis Pushilin said during the Direct Line call-in session with the Republic’s residents on Tuesday.

“All the legal acts that create problems for business people or investors, from registration to inspections, will be abrogated,” Pushilin said.  “Licensing and state supervision rules will be revised as well.”

The licensing law cut the number of licensed activities from 73 to 56 and changed the validity period which will be indefinite for a majority of activities; the number of inspections will decrease as well. The law on regulating investments is currently in the works, the DPR leader said.

“It will prevent illegal alienation of the investor’s property and spell out all advantages and guarantees. This will make communication with the investors much easier because people are ready to come and invest their money. So they must know the rules of the game. We have to spell out the rules by which the investors will interact,” Pushilin added.

In November 2019, the DPR set up a working group on investments. It offers recommendations to improve the country’s investment attractiveness and analyses and presents proposals to investors.*jk