Law on protection of investments work up to the end of the month

14.10.2019

The Russian government has agreed on the main provisions of the bill on the protection and promotion of investments and plans to finalize it within two weeks, said First Deputy Prime Minister and Minister of Finance Anton Siluanov.

It is assumed that the bill will fix the norms that ensure investment return on projects.

“Second – it is proposed to conclude special agreements with entrepreneurs who invest in the amount of 1.5 billion rubles. These agreements will be a guarantee for the invariability of individual taxes, legislation in the field of technical regulation, urban planning regulation – all that worries our entrepreneurs”, Anton Siluanov added.

According to the Minister of Finance, the document provides for the mutual responsibility of government and business for the implementation of investment agreements.

“The responsibility of both the state and entrepreneurs for the implementation of the relevant agreements is envisaged. In case of violation by the state, material damage will be compensated. In the same way, we will demand the fulfillment of obligations on the implementation of investment projects by our entrepreneurs. Such agreements will have mutual responsibility, ”he stressed.

The developers of the bill hope that the document will be adopted and will enter into force in 2020.

Source: RIA Novosti

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