Firms from offshore zones to no longer be able to privatise companies in Moldova

Chisinau, 04 October /MOLDPRES/ – The draft law on modification and completion of some legislative acts – so – called "Law of deoffshorisation" has been approved on Friday, 04 October, in the first reading of Legislature.

The project envisages modifications aimed at defining the notions of participant in privatisation, tenderer within public – private partnership, economic operator, participant in public procurement procedures, as well as in works and services concessions.

According to authors of document, the new regulations aim to establish restrictions on participation in privatisation procedures, public – private partnerships, public procurement and concessions for several categories of legal entities. These ones include: the legal entities founded by subjects from jurisdictions that do not comply with international transparency standards, legal entities comprising, directly or indirectly, one or more persons registered or residing abroad.

So as to become law, the project must be adopted in final reading. Subsequently, the Government will have to approve the methodology for establishing jurisdictions that do not implement international transparency standards and approve their lists.