Investment in Support of Energy Efficiency Also available in this series: China 2008 India 2009 Indonesia 2010 Morocco 2010 Peru 2008 Viet Nam 2009 www. The law clarifies the main procedural aspects such as the nature of documents to be submitted by the applicants and different steps in the delivery of permits. Existing bilateral agreements with the Russian Federation, Georgia, Azerbaijan, Armenia, Bulgaria, Hungary, Latvia, Lithuania, Poland and the Slovak Republic provide for i no tifi cation o f anti com petitive conduct or enforcement activities that affect the interests of the other country; ii exchange of information on business entities involved in enforcement investigations, and iii joint co-ordination of enforcement activities. Selected laws or their summaries in English are available free of charge www. There is no single model of energy efficiency governance and countries have to adapt their approach to local conditions.
Practitioners and the business community consider that enforcement procedures such as permits for concentrations and concerted actions are transparent and implemented in accordance with clearly established deadlines. Contracting authorities have the right to request the main contractor to allocate 30 per cent of all contracts entered into to designated third parties. It first encourages them to make such measures as transparent as possible so that their scale and purpose can be easily determined. Several legal databases provide the complete texts of the laws for a fee, for instance www. France 195 913 246 216 244 672 259 773 295 308 386 525. For other disputes involving a foreign investor, the parties are allowed to select a forum for its resolution, including Ukrainian courts the International Commercial Arbitration Court of the Chamber of Commerce and Industry of Ukraine or other organs of dispute resolution chosen by the parties.
The undertaking to apply National Treatment comes into force as and when areas previously under monopoly are opened up. Information contained in the Unified State Register shall be open and publicly available. The entity paying for energy deliveries is the Wholesale Energy Market which simplifies matters for the producers as they do not need to negotiate with local distribution companies oblenergos to whose networks they are physically connected. The Instrument also provides for consultations and review procedures among adherent countries to facilitate international co-operation in this area. Accordingly, Romania has proposed the following exception to national treatment: Air Transport Air carrier operating licenses may be granted only to companies established in Romania and controlled by Romanian nationals or the State. The data do not include reinvested earnings and undistributed branch profits. Romania has been one of the three co-chairs of the Investment Compact for South-East Europe programme sponsored by the Organisation.
In the area of official aids and subsidies, Adherents should give priority attention to limiting the scope and application of measures which may have important distorting effects or which may significantly jeopardise the ability of foreign-controlled enterprises to compete on an equal footing with their domestic counterparts. Electricity controlled by the state-owned company dominates in electricity distribution: electricity on the wholesale electricity market and sell it at a regulated retail tariff, set up by the National Electricity Regulatory Commission of Ukraine. According to the law adopted in October 2010, 9 this facility should be available in 27 regional centres for investment operating in all regions as well as in Kyiv and Sevastopol. The value realised from a saleassignment is to be reduced by any commissions, fees or other amounts paid in connection with the sale-assignment. The law also specified the appeal procedures in the case of complaints. Real estate At the present time, foreign natural and legal persons not incorporated in Romania may not own land in Romania.
Among different support schemes for electricity produced from renewable resources, feed-in tariffs are commonly perceived as the most effective approach that has been deployed in several European countries. Renewable Guaranteed feed-in electricity tariffs defined in relation to conventional energy prices. There is no single authority representing both Turkish and Greek Cypriot people on the island. The main problems remain inadequate enforcement of existing legislation due to delays in adopting implementing regulations and often insufficient administrative and technical capacities of responsible executive agencies. The sector needs significant investments to replace outdated equipment to improve its productivity and quality of products, which do not correspond to domestic demand for higher quality oil products currently covered to a large extent more than 40% in 2010 by imports. The employees of privatised companies benefit from a number of social protection measures severance pay, training ….
The law on state registration5 effective since 1 July 2004 list the documents required for state registration. A comprehensive Fiscal Code and a medium-term fiscal strategy have been adopted to ensure greater stability and predictability in business decisions. Evolution, by year, of privatised share capital, of which the one corresponding to the large companies Share capital large companies Privatised share capital 12 977. Easy access to cheap energy has so far made such investment unattractive in Ukraine. The current price system makes most energy sub-sectors economically unviable without massive public subsidies and other administrative support, for instance to prevent bankruptcy. It is important to ensure a prompt and thorough application of the new legislation by responsible agencies at all levels so as to avoid — as often happened in the past — that well-conceived laws and regulations have not been adequately implemented. World Bank 2010a , Investing Across Borders 2010.
Successive Ukrainian governments have included the fight against corruption among their key political goals. Efforts to reduce the administrative burden have to be pursued According to the latest 2011 World Bank Doing Business database World Bank, 2010b , recent streamlining of establishment procedures has been acknowledged as the main business reform successfully carried out by Ukraine in 2010, which has allowed it to improve its international ranking from 147 in 2010 to 145 in 2011 out of 183 economies. The 1991 law on environmental protection 24 refers to a number of key principles, including priority of environmental safety requirements, access to information, openness and transparency of decision-making with an impact on the environment. The final legal proposal should take into account all comments raised during public consultations. The main responsibility for implementing state labour and employment policies rests with the Ministry of Social Policy of Ukraine, the State Centre for Employment and their respective local branches. In this area too, the reforms have taken a long time to materialise.
Meetings presenting specific national projects were organised with potential investors in various international forums. Transport and communications There are no limitations on foreign equity in transport services. Monitoring and enforcing environmental measures is the responsibility of State Ecological Inspection of the Ministry of Environment and Natural Resources, in co-operation with some other ministries e. Japan 27 077 26 065 46 115 50 323 50 320 78 143 89 728 271 906 270 037 248 778 278 444 300 116 304 234 335 503 Korea Luxembourg Mexico. The Charter thus provides a basic framework underpinning the rights of investors in the energy sector though its practical application has so far been limited.
Registration is not mandatory, but unregistered foreign investment does not benefit from the guarantees provided by the law Article 13. The new tacit approval procedure does not appear to have been widely used however. Foreign Direct Investment Regime Chapter 3. There were still some 1 300 state-owned enterprises, including those in manufacturing and services, and another 600 enterprises effectively under state control. It now seems that a majority of companies are aware of this development, but only a few companies have tried to use it. Business Eastern Europe 2010 , weekly, Economic Intelligence Unit, 11 October 2010. The data concerning the amount of subscribed capital include the records on issued capital in companies incorporated in the relevant period plus the records of the increase in capital and minus the subscribed capital in companies being struck off the trade register in the same period.