Today 26 August 2019, Monday - Last updated at 25 August 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/

 Urmărește știrile Timpul.md pe Telegram
blog comments powered by Disqus

Din aceeaşi secţiune

Cele mai noi ştiri de azi

News 16 August 2019, ora: 08:55

PM’s Plan to Commemorate Victims of Totalitarianism Divides Moldova

PM’s Plan to Commemorate Victims of Totalitarianism Divides Moldova

 Move by pro-EU Prime Minister to turn August 23 into a day of remembrance for victims of totalitarianism may trigger an ideological fight with her pro-Russian coalition partners – who celebrate the victory in 1944 of the Soviet Red Army on that day.

( ) Read all

News 15 August 2019, at: 18:43

The Washington Times Kremlin rewriting World War II history

Kremlin rewriting World War II history

 Sept. 1 marks the 80th anniversary of Nazi Germany’s invasion of Poland — an event that heralded the beginning of World War II. Two years later, the United States entered the war as an ally of both Great Britain and the Soviet Union. By that time, France and numerous other...

( ) Read all

News 9 August 2019, ora: 18:38

What are Moscow’s protesters supposed to be guilty of?

What are Moscow’s protesters supposed to be guilty of?

 Protesters in Moscow have been charged with violating three articles of Russia’s criminal code. Stanislav Andreychuk and Denis Shadrin, experts from Golos, consider the most outrageous examples.

( ) Read all

News 8 August 2019, ora: 20:54

7 facts about the Lithuanian language

7 facts about the Lithuanian language

 The Lithuanian language is one of the oldest languages in the world.

( ) Read all

News 6 August 2019, ora: 07:01

Bloomberg World's Richest Lose $117 Billion in One-Day Market Meltdown

World's Richest Lose $117 Billion in One-Day Market Meltdown

The wealthiest 500 people on Earth lost 2.1% of their collective net worth on Monday as U.S. stocks plunged in their biggest drop this year. 

( ) Read all

News 4 August 2019, ora: 17:54

Foreign Policy The Longest Wars

The Longest Wars

 One of the most celebrated diplomats of his generation, Richard Holbrooke helped normalize U.S. relations with China; served as U.S. ambassador to a newly reunified Germany and then to the United Nations; and, most famously, negotiated the 1995 Dayton peace agreement that ended the war in...

( ) Read all

News 3 August 2019, ora: 08:02

Disinformation and European erosion in Romania

Disinformation and European erosion in Romania

Romania has a reputation as one of the most pro-EU and pro-US countries in Europe.

( ) Read all

News 3 August 2019, ora: 08:01

Turkey Jails Another Professor Deported from Moldova

Turkey Jails Another Professor Deported from Moldova

Turkey has jailed another of the seven teachers controversially deported from Moldova last year – handing down a stiff prison sentence of 12 years.

( ) Read all

News 30 July 2019, ora: 09:15

Dodon Ally Becomes Moldova’s New Anti-Graft Chief

Dodon Ally Becomes Moldova’s New Anti-Graft Chief

The appointment of Ruslan Flocea as new head of the National Anti-corruption Centre, CNA, sees another former adviser to the Pro-Russian President taking a top job in the Moldovan state.

( ) Read all

News 29 July 2019, ora: 08:24

Exclusive: Russia wants short-term gas deal with Ukraine before bypass routes complete (reuters)

Exclusive: Russia wants short-term gas deal with Ukraine before bypass routes complete (reuters)

Russia wants to strike a short-term deal with Kiev on gas transit to Europe when the current 10-year agreement expires in order to buy time to complete pipelines that will bypass Ukraine, four sources familiar with Russian thinking said.

( ) Read all

News 27 July 2019, ora: 09:30

Naftogaz CEO hopes to strike deal with Moldova on use of Ukrainian GTS, USFs

Naftogaz CEO hopes to strike deal with Moldova on use of Ukrainian GTS, USFs

Kobolyev noted that cooperation with Moldova will ensure an additional load on Ukrainian storage facilities and gas transmission systems.

( ) Read all

News 26 July 2019, ora: 10:25

Russia says it will ban think tank formerly run by U.S. ambassador

Russia says it will ban think tank formerly run by U.S. ambassador

Russia said on Thursday it was preparing to ban the Atlantic Council, a think tank formerly run by the U.S. ambassador to Moscow, which Russia's prosecutor general described as a security threat.

( ) Read all

News 26 July 2019, at: 09:33

Moldova, A Wine Experience Out Of The Ordinary

Moldova, A Wine Experience Out Of The Ordinary

Looking for a combined wine and gastronomy vacation? Looking for something adventurous and a bit off the beaten track? Try Moldova. This is probably not the first country that pops up in your mind. Some people may not even know it as a wine country. But it definitely is one. And an old one at that.

( ) Read all

News 25 July 2019, ora: 10:32

Moscow’s Man Eyes Second Term as Moldova’s President

Moscow’s Man Eyes Second Term as Moldova’s President

As he seeks re-election in 2020, Igor Dodon has made no secret of his close ties to the Kremlin – but critics cay his assiduous courtship of Russia has not brought Moldova any obvious benefits.

( ) Read all

News 23 July 2019, ora: 15:37

The EU resumes budget support assistance to the Republic of Moldova

The EU resumes budget support assistance to the Republic of Moldova

The Commission has resumed budget support assistance to the Republic of Moldova by disbursing €14.54 million today to support the implementation of the EU-Moldova free trade agreement, to finance vocational education trainings and to assist the implementation of the visa liberalisation...

( ) Read all

News 21 July 2019, ora: 22:16

Forbes Russia's Secret Intelligence Agency Hacked: 'Largest Data Breach In Its History'

Russia's Secret Intelligence Agency Hacked: 'Largest Data Breach In Its History'

 Red faces in Moscow this weekend, with the news that hackers have successfully targeted FSB—Russia's Federal Security Service. The hackers managed to steal 7.5 terabytes of data from a major contractor, exposing secret FSB projects to de-anonymize Tor browsing, scrape social media,...

( ) Read all

News 20 July 2019, ora: 09:52

Ukraine's Constitutional Court Upholds Law Equating Communism To Nazism

Ukraine's Constitutional Court Upholds Law Equating Communism To Nazism

Ukraine's Constitutional Court has upheld a law that equates communism to Nazism and bans the dissemination of its symbols, a law that has prompted angry protests from Moscow.

( ) Read all

News 19 July 2019, ora: 17:38

Turkish Court Jails Professor Deported from Moldova

Turkish Court Jails Professor Deported from Moldova

One of the seven Turkish teachers controversially deported from Moldova to Turkey has been jailed for seven-and-a-half years for terrorism-related offences.

( ) Read all

News 16 July 2019, ora: 18:06

Merkel Urges Moldova To Speed Up Reform Pace

Merkel Urges Moldova To Speed Up Reform Pace

German Chancellor Angela Merkel has urged Moldova's new pro-European government to continue on the path of reforms and step up the fight against widespread corruption, saying Berlin would offer Chisinau its support.

( ) Read all

News 14 July 2019, at: 08:46

Undersecretary of State for Political Affairs David Hale congratulated Moldova's new prime minister, Maia Sandu, and expressed U.S. support for her government during a July 13 meeting in the Moldovan capital.

( ) Read all

News 11 July 2019, at: 18:24

 Transnistria cannot remain a kind of a “sovereign entity” over which the great powers politely agree to disagree.

( ) Read all

News 11 July 2019, at: 13:07

ITALY's Matteo Salvini was hit by protests in the Italian Parliament as officials savaged the deputy Prime Minister following allegations of a secret oil deal with Russia.

( ) Read all

News 8 July 2019, at: 18:39

The first batch of oil from the USA arrived at the port of the Ukrainian city of Odesa. According to the press service of the port, 75 thousand tons of Bakken grade oil was purchased by PJSC Ukrtatnafta and will be processed at the Kremenchuk oil refinery.

( ) 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)