Deputies adopted the draft law "On Self-Regulatory Organizations" in the first reading.

Deputies of the fourth session of the House of Representatives of the National Assembly of the seventh convocation adopted the bill "On Self-Regulatory Organizations" in the first reading, BELTA correspondent reports.

Deputies at the meeting of the fourth session of the House of Representatives of the National Assembly of the seventh convocation adopted the bill "On Self-Regulatory Organizations" in the first reading, BELTA correspondent reports.

The bill is aimed at creating legal conditions for the introduction of self-regulation mechanisms for entrepreneurial and professional activities in Belarus, which is an important element of the country's economic development strategy.

Self-regulation implies an alternative mechanism for private control and regulation of entrepreneurial and professional activities. Its key idea is the distribution of control and supervision functions over the activities of subjects in a certain sphere and responsibility for their actions between the state and the market participants themselves.

World experience shows that business self-regulation can be an effective alternative to state intervention in the economy, ensuring a reduction in state expenditures on regulation, as well as greater flexibility and attention to the interests of market participants.