June 26, Minsk / Anna Kot - BELTA/. The House of Representatives of the National Assembly of Belarus adopted the draft law on investments in the second reading today, BELTA reports.
Presenting the draft law, Chairman of the Standing Commission on Economic Policy Vladimir Kravtsov noted that the draft law had been refined in terms of terminology, and the concepts of "investment" and "investor" had been clarified.
Thus, the draft law provides that investments include only property and other objects of civil rights that are used by the investor for purposes not related to personal, family, household, or other similar use.
The subject composition of the concept of "investor" has been brought into line with the civil legislation of Belarus. The scope of the law has been clarified. At the same time, it is established that its provisions apply to relations related to the implementation of investments in the territory of Belarus, with the exception of the contribution of property to non-profit organizations, in respect of which their founders do not have ownership rights or other proprietary rights, the acquisition of securities, other than shares, the acquisition or construction by citizens of Belarus, foreign citizens and stateless persons of residential buildings, residential premises for the проживания of these citizens, stateless persons and their family members, the provision of loans, credits and their repayment, the placement of bank deposits.
The draft law has been supplemented with a chapter defining state regulation, establishing the competence of the President, the Council of Ministers, other state bodies and other state organizations in the sphere of investments.
To implement the provisions of Decree No. 10 on creating additional conditions for investment activities in Belarus, the draft law includes provisions stipulating that in order to create additional conditions for investment, investors have the right to conclude an investment agreement with the Republic of Belarus, while the essential terms of investment agreements and the powers of state bodies in this area are defined. -0-
News of Belarus (BELTA)