Donetsk International Forum: Key suggestions for new investment policy announced

October 30, 2019 19:17

Donetsk, Oct 30 – DAN. The participants of the Donetsk International Investment Forum have adopted the declaration “Donbass – Experience of Extreme Economy” and prepared a package of recommendations to attract sizeable foreign investment to Donbass.

The document made available to DAN suggests an off-shore zone in the region where entrepreneurs will enjoy full tax exemption and zero custom duties.

It also envisions a declaratory system for legal entities registration on the day documents (application and the charter) are filed. The authors of the idea believe it shall contribute to economy’s liberalization and overcoming bureaucracy.

Business is supposed to be functioning without control of state bodies and enjoy free access to engineering infrastructure.

Land plots shall be provided for free and for indefinite time, no licenses will be required.

The authors believe that immovable property might be owned or lent on concession agreements or on a shared basis. Investors acquire freehold titles in case greenfield projects (ones that lacks constraints imposed by prior work) are implemented.

Sunset clauses of export-import contracts should extend payment deadlines up to 210 days.

The document also suggests block chain infrastructure and partnership legalization with highest security and confidentiality levels.*ot