Irina Kiviko: The Investment Committee will help reduce barriers in economic development of the Crimea

The creation of the Investment Committee of the Republic of Crimea will help to reduce the barriers hindering the development of the economy and improve the implementation of investment projects in the republic. The Deputy Chairman of the Council of Ministers – Minister of Finance of the Republic of Crimea Irina Kiviko reported about that.

The Head of the Republic of Crimea Sergey Aksyonov issued the Decree on the establishment of the Investment Committee on February 11, 2022. The Head of the Republic chaired the Investment Committee, his deputies are the Deputy Prime Minister Irina Kiviko and the Minister of Economic Development Dmitry Sheryako.

"The Investment Committee was created in order to create favorable conditions for conducting investment activities, protecting the rights and legitimate interests of investors, as well as to resolve disagreements and disputes between investors and the authorities of the republic," Irina Kiviko said.

She said that the Committee's powers include consideration of issues related to the fulfillment of obligations of the Republic of Crimea and the investor within the framework of Agreements on the implementation of investment projects, discussion of issues related to improving the investment climate and the implementation of investment projects, making proposals to reduce barriers hindering the development of the republic's economy.

The Investment Committee, a new permanent advisory body, includes the Ministers of Housing, Fuel and Energy, Property and Land Relations, Construction and Architecture of the Republic of Crimea, the Crimean Branch of the Russian Union of Industrialists and Entrepreneurs, the Chamber of Commerce and Industry, "Business Russia", "Opora Rossia", the Commissioner for the Protection of the Rights of Entrepreneurs in the Republic of Crimea, heads of resource-supplying organizations of the Republic.

The Committee has the right to make proposals to improve the regulatory framework of the Republic in the field of state regulation of investment activities, organizational, technical and the Ministry of Economic Development of the Republic of Crimea provides informational support of the Investment Committee.