Tiraspol, April 25. / Novosti Pridnestrovya/. The Supreme Council adopted the law «About the State Support of Investment Activities». According to the Deputy Prime Minister Stanislav Kasap, offered by the Government in February initial text was corrected by deputies. However, changes have no conceptual character.
«The law was significantly revised, but we consider it would become better balanced. When it comes into force, the Government will have all necessary tools and powers to work with investors and to attract investments into Pridnestrovie», - Kasap explained to the correspondent of Novosti Pridnestrovya News Agency.
The Deputy Prime Minister also noted, we have already had potential investors, and they are ready to enclose in the creation of new productions in the territory of the PMR.
«They waited for the adoption of this law to be defined in what conditions they will work in our country. We expect that after the introduction of the law there will be not only agreements of intent, but also real investment contracts», - the Deputy Prime Minister told.
The head of the Parliamentary Committee on Development of Business and Industry Victor Guzun told about the main adjustments.
The state will provide preferences to investors (tax exemption on income, on the land, on dividends of shareholders and decrease in rate of the Unified social tax from 25% to 14%) for 5 years for investment range from 200 thousand to 500 thousand euros; 7 years – for 500 thousand – 1 million euros in size; 10 years if the sum of investments exceeds 1 million euros.
Except natural grants investors will be able to count on investment subsidies: up to 10% of cost for installation and construction works and the equipment for 200 thousand – 1 million euros (if the sum of investments is higher, then the application for a subsidy, all the same, will not exceed 1 million euros). The decision on this question will be made by Investment Council (where representatives of the Government, Supreme Council and Central bank will be) taking into account state budget opportunities.
For the validity of investors, they will also be exempt from obligatory sale of currency revenue (today up to 25% of currency revenue have to be sold to the Central Bank). Such preference, according to Victor Guzun, will allow investors to avoid additional costs of currency conversion and financial losses in case of repetition of a situation of 2016 when in the country there were two exchange rates.
Preferences will be provided to investors taking into account the competitive capacity of the domestic market. For this purpose in the law, there are marked types of activity on which there are no preferences if new production is calculated on internal consumption. At the same time, if the investor plans to focus on export, he will be able to count on preferences in any industry.
The main goal of the new investment law is to firm legal safeguards and unprecedented maximum preferences to investors; to moves the risks connected with political acknowledgement of Pridnestrovie. In the nearest future, the law will be signed by the President of the PMR Vadim Krasnoselsky.
