Law No. 37-Z Investment Code.

This Law primarily focuses on the legal framework governing investment activities, as established by the Investment Code. Its objectives include promoting investment, ensuring the protection of investor rights, and facilitating the development of production and social infrastructure. Investments shall be intended any property, including cash, securities, equipment and results of intellectual activity, owned by the investor or other property right, and property rights invested by the investor in investment activity objects for the purpose of obtaining profit (income) and (or) achieving another significant result. Investment activities in relation to subsoil, water, forests, lands and objects that are exclusively owned by the state, or activities for the implementation of which the state has the exclusive right, may be carried out on the basis of concessions. Key legal principles outlined include the definition of investments, which encompasses various forms of property and rights, and the concept of investment activity, which involves actions taken by investors to generate profit or achieve significant results. The document specifies essential measures related to investment agreements, including the rights and obligations of investors, compliance with environmental and labor legislation, and the provision of legal guarantees by the state. It emphasizes the necessity for investors to adhere to the established legal framework and outlines the criteria for evaluating investment projects, such as financial viability, technological feasibility, and market competitiveness. Additionally, it mentions the requirement for investors to submit a business plan and other documentation for project approval. The implementation of the Investment Code is set to occur three months after its official publication, with existing legislation remaining in effect as long as it does not contradict the new Code. The document outlines the responsibilities of various governmental bodies in facilitating investment projects, including the issuance of necessary permits and the resolution of disputes, potentially through international arbitration for foreign investors. Secondary themes include the importance of stakeholder engagement in the investment process and the need for compliance with environmental standards and other significant conditions during project execution. This Law contains 6 Sections divided into 103 Articles. Section 1 lays down general provisions. Section 2 regards state support of investment activity. Section 3 specifies the particulars of investment activity based on concessions. Section 4 regards activities of foreign investors and commercial organizations with foreign investments in the national territory. Section 5 regards investments in the territory of foreign states. Section 6 lays down conclusive provisions.