Strategic investments legislation

Minister outlines bill on strategic investments in parliament

03.07.2013 u 13:00

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Economy Minister Ivan Vrdoljak on Wednesday outlined a bill on strategic investments in the parliament and on that occasion he said he was sure that this legislation would be needed only in a few next years, until amendments to other relevant laws were adopted to make sure that issuance of paperwork for investments is sped up.

"I would like to live in a country where there is no need for this law (on strategic investments), where there are clear rules and where clerks at all levels would be more efficient," Vrdoljak said addressing the parliament.

He said that some units of local self-government needed only 11 months to adopt spatial plans while in some other units it tool even six years for that.

This is detrimental to the investment climate, the minister said presenting the reasons for the adoption of the strategic investments legislation aimed at facilitating large-volume investments.

He ruled out the sale of public goods, as claimed by the vocal opponents of the bill.

The minister also rejected criticism that the new law would facilitate disappropriation.

The conditions for disappropriation are not being changed, this will be conducted in compliance with the exiting laws. Not any project could be carried out if it is not envisaged in spatial plans, and the new legislation will only expedite paperwork," the minister underscored.

He went on to say that the new legislation would enable transparent procedure in deciding on strategic projects and in monitoring their implementation.

He also refuted objections that the proposed law would be at the service of big capital and explained that the government would not ignore lower-scale investments.

Large investments create jobs for more people, engage more SMEs and help develop transport and utility infrastructure, he added.

He said he was sorry to see that the legislation was not adopted in first reading before the summer recess, however, he admitted that it was better to spend a few more months on a high-quality discussion rather than having problems in the implementation of the adopted law.