The work on the legislations regulating investment activity is coming to the end. In the course of the meeting of the Committee on Development of Entrepreneurship and Industry, a package of six legislative initiatives developed by the government was considered in the second reading. The document determined the legal, economic and organizational basis for investment activity. The work on the amendments is over at the moment. There are totally three hundred, all interested parties joined the discussion.
The deputies of the Committee also recommended the legislative initiative of the President for adoption in the first reading. It is proposed that two representatives of the head of state are included in the supervisory board of the State Reserve Fund. This body is collegial, provides supervisory, control, advisory and administrative functions in relation to the funds entering the fund. Currently, it includes the head of the foundation, as well as five representatives delegated from the Supreme Council and the government.
The state reserve fund was formed at the expense of gratuitous aid to Russia, which was received to provide technical loans to support agribusiness entities. By the decision of the Supreme Council, preferential loans will also affect small business entities.