Today 25 May 2019, Saturday - Last updated at 24 May 2019
Abonamente

News 13 December 2017, at 19:21

The Foreign Investors Association advanced a request to the Government and Parliament bodies, to pass the reform on control bodies, initiated by the Ministry of Justice

Marime Font

Foreign Investors Association, established in 2003 and which includes some of the largest foreign investment companies in the Republic of Moldova, actively promotes actions aimed at improving the investment climate. The Government and the Parliament have recently adopted a series of reforms of the regulatory framework, in particular in the field of state control over the business activity and permissive acts.

However, these reforms have less covered an important segment of state interference in business activity – the law enforcement bodies. Today, the law enforcement bodies, in particular the Economic Fraud Investigation Division, subordinated to the Ministry of Internal Affairs, and the National Anticorruption Center, enjoy a range of competences such as to seize goods, documents, information systems, to arrest, make proposals to preventively arrest and others, which may lead to a stop in the business activity and laying off of employees. Abusive enactment of such measures may cause major losses to the entrepreneurs and may ultimately determine the decrease in the potential to attract investments to Moldova, as a result of the deteriorated image of the investment climate.

Therefore, the Association welcomes, in principle, the initiative of the Ministry of Justice to promote the draft law amending and supplementing certain legislative acts (Criminal Code, Criminal Procedure Code, Contravention Code and other legislative acts) aimed at improving the investment climate by introducing less repressive criminal norms related to economic crimes and establishing additional procedural safeguards against abuses by the law enforcement and control bodies.


The draft was discussed in several meetings organized by both the Ministry of Justice as well as the Economic Council to the Prime Minister. The last meeting, with the participation of the Prime Minister, was held on 08.12.2017. Given the publicly launched suspicions referring to the recent high profile banking fraud cases, the participants to that meeting wanted to make sure that all the persons involved in these cases would not also benefit from the provisions of this initiative.

We understand and commend the fact that the Ministry of Justice has accepted to make changes, which would guarantee that this does not happen, and proposed to organize an additional technical meeting to discuss further proposals from the stakeholders with the subsequent completion of the draft.

To follow up on the above, we believe it is opportune to expressly provide for in the draft the manner in which the acts of the control bodies can be challenged, which would avoid putting the individual/legal entity in the situation of having to tacitly accept the accusations which are brought up to them and accept the starting of the criminal case.

We also draw your attention to a series of other provisions, which raise concerns among the business community, such as for instance:

Applying criminal liability for not obtaining any permissive act required for business operation, including regardless of the damages caused;
Applying criminal liability for concluding any anticompetitive agreement which causes extremely large scale damages or which generate extremely high profits (in international practice, such liability applies only in case of cartels, not vertical agreements);

If, during a control, a control body identifies that a crime had been committed, it has to mention in its control act the exact amount of damages caused by the crime and the actions which must be undertaken to remedy the violation. The act of control cannot be challenged in the court and serves as evidence for the criminal prosecution. There is the risk that common procedural safeguards, applicable to collecting evidence in the course of a criminal prosecution (including against self-incrimination) be disregarded by the control body;

Applying criminal liability for doing business in violation of the intellectual property rights and not indicating the fiscal code in the documents or indicating it with mistakes (it is not clear how these two issues can be combined).

In relation to the above, we express our readiness to continue the consultations with the authorities of the Republic of Moldova for finalizing the respective draft, taking into account the relevant comments, and we kindly call upon the Government, the Parliament and the President of the Republic of Moldova to support the respective legal initiative of the Ministry of Justice, that will substantially improve the business and investment climate in the Republic of Moldova.

The Foreign Investors Association also urges the representatives of other business associations and business community to join this call.

 http://fia.md/event/fia-official-letter-sanctioning-system-reform/

blog comments powered by Disqus

Din aceeaşi secţiune

Cele mai noi ştiri de azi

News 22 May 2019, at: 15:22

The Washington Post How the Kremlin upset Moldova’s elections

How the Kremlin upset Moldova’s elections

 After Moldova’s elections in February, the country’s leading oligarch, Vladimir Plahotniuc, thought he had things sewn up. While the Russian-leaning Socialists won the most seats, 35, in the 101-seat Parliament, Plahotniuc’s Democrats had won 30 seats and the pro-E.U. ACUM...

( ) Read all

News 21 May 2019, at: 16:18

 Russia is to keep its membership in Europe’s top human rights body after Germany and France engineered a last-minute deal to avoid a Russian expulsion, a step that threatened to further incite tensions between the Kremlin and the West.

( ) Read all

News 19 May 2019, at: 17:15

 The European parliament’s Brexit co-ordinator on the Behind Closed Doors film, the perils of populism and how Rwanda’s genocide changed him.

( ) Read all

News 19 May 2019, at: 11:03

 This map tells a dramatic story of change in the population of the 15 former republics of the Soviet Union between 1989 (before the breakup of the USSR) and 2018.

( ) Read all

News 18 May 2019, at: 17:31

 Today we commemorate the genocide of the Crimean Tatar people. 75 years ago, as being allegiadly ‘unreliable’, all of the Crimean Tatar population was deported from its Homeland. The Lithuanian Constitutional Court has referred to the acts against the Crimean Tatar people as a...

( ) Read all

News 12 May 2019, at: 12:05

 March 18 marked a year since Russia’s last presidential election. Vladimir Putin allegedly won 76.69% of the vote, on a turnout of 67.54% (or 51.7% of all Russia’s eligible voters.) But a recent study of video recordings from polling stations paints quite a different picture of...

( ) Read all

News 26 April 2019, at: 05:54

 The campaign of Volodymyr Zelensky, a forty-one-year-old actor who, on Sunday, was elected Ukraine’s next President, in a landslide, was light on specifics. He vowed to put an end to corruption and the trade of political favors for illicit wealth, and also to bring peace to the...

( ) Read all

News 15 April 2019, at: 10:25

The radio station brought to light Victor Josu, a pro-Russian who is helped by Valeriu Pasat, the ex director of the Service of Information and Security to promote Russia's politics in Moldova. In 2010, Victor Josu was intensively supporting a further organization of a referendum to support the...

( ) Read all

News 12 April 2019, at: 04:44

 Katie Bowman, a PhD in electrical engineering from the Massachusetts Institute of Technology, specialized in a very fine part of building complex and precise algorithms that could create images through a huge data stream of up to 5 million gigabytes, and then completed her specialization at...

( ) Read all

News 10 April 2019, at: 07:35

 Today's press conference of the Socialist Party of the Republic of Moldova, informally led by the Moldovan President, Igor Dodon, supports the suspicion that his undeclared and denied plan to place the country under Russian control exists and is still in motion.

( ) Read all

News 9 April 2019, at: 08:26

Time flies. 15 years have passed since Lithuania‘s accession to NATO. Once, NATO membership seemed completely out of Lithuania‘s reach. Today, we proudly consider ourselves to be experienced and reliable members of the Alliance.

( ) Read all

News 3 April 2019, at: 11:07

 Greek judge Linos Alexandros Sicilianos was elected as President of the European Court of Human Rights on Monday.

( ) Read all

News 3 April 2019, at: 10:56

 Romanian Finance Ministry to launch three Eurobond issuances, as first ever 30-year Eurobonds are included. Former PM Victor Ponta strongly criticized the measure.

( ) Read all

News 3 April 2019, at: 10:52

 Laura Codruța Kovesi was placed under judicial control, preventing her from leaving the country and talking to the press. Protests to support Kovesi were organized this weekend

( ) Read all

News 24 March 2019, at: 20:48

 When Benito Mussolini debuted the Fasci Italiani di Combattimento, the precursor to his fascist party, on Mar. 23, 1919, in Milan, he wasn’t inventing the idea of violent authoritarianism. But he put a name on a new and terrible breed of it. Under his leadership, squads of militants...

( ) Read all

News 24 March 2019, at: 08:36

France’s Emmanuel Macron declared the “time of European naïveté” towards China was over as Xi Jinping was hosted with pomp in Rome for a visit that has alarmed both Brussels and Washington.

( ) Read all

News 22 March 2019, at: 19:39

 Almost 70 percent of the world’s most important economies is under the control of populist governments or non-democratic regimes, according to an analysis by Bloomberg Economics.

( ) Read all

News 20 March 2019, at: 07:33

On this day five years ago the Constitutional Court of the Russian Federation adopted - over one night - the decision (opinion) that allowed for the annexation of a part of Ukrainian territory - the Crimean penninsula. Thus, the decision of 19 March 2014 contributed to the commission of an act of...

( ) Read all

News 19 March 2019, at: 06:41

 Remarks by High Representative/Vice-President Federica Mogherini at the press conference following the Foreign Affairs Council

( ) Read all

News 18 March 2019, at: 16:41

 BUDAPEST — The International Investment Bank, an obscure Russian financial institution with a small-time balance sheet, is an unlikely source of global intrigue. In more normal times, its plans to open a new headquarters in Budapest would pass unnoticed.

( ) Read all

News 18 March 2019, at: 15:36

 The attack in New Zealand was inspired in part by the Norwegian mass murderer Anders Behring Breivik, but the real threat is lone wolves lurking in the far corners of the Internet.

( ) Read all

News 15 March 2019, at: 12:55

 WASHINGTON, DC – Last week, Congressmen Adam Kinzinger (R-IL) and Bill Keating (D-MA) introduced H.R. 1616, the European Energy Security and Diversification Act, to help both the United States and European countries attain global energy security while also encouraging a...

( ) Read all

News 14 March 2019, at: 18:20

 Note: Unless otherwise noted, all references in this report exclude the secessionist region of Transnistria.

( ) Read all

News 13 March 2019, at: 23:09

 The Constitutional Court on Feb. 26, 2019. The court abolished on Feb. 26, criminal liability for illegal enrichment, deciding that it violates the presumption of innocence.

( ) Read all

News 11 March 2019, at: 20:04

 Latvia has finished construction of the 93-kilometer-long section of the fence with the barbed wire on the border with Russia. Kristina Petersone, the press secretary of Latvian State Border Guard said that as quoted by Diena.

( ) Read all
Current tier / breakpoint: xs sm md lg xl (= visible only on this breakpoint)

.hidden-xs-down .hidden-sm-down .hidden-md-down .hidden-lg-down

.hidden-xs-up .hidden-sm-up .hidden-md-up .hidden-lg-up .hidden-xl

.hidden-xs (only) .hidden-sm (only) .hidden-md (only) .hidden-lg (only) .hidden-xl (only)