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Corporate law and governance, financial transaction taxes

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Financial infrastructure and financial market regulation


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Almost One Third of Draft Regulations Hinder Business

05.03.2012 08:38 / Interfax

The Ministry of Economic Development checked 750 regulations to find out whether they create barriers for business; about 30 per cent of these regulations were considered to be negative, Oleg Fomichev, a Deputy Minister of Economic Development, told Echo of Moscow.

Evaluation of the regulating impact of drafts that has become an obligatory measure since 2010, is conducted by the Ministry within approximately 30 days, which includes consultations with business entities and economic analysis.

52 per cent of all the documents are deemed negative as a result of this detailed review, and only 48 per cent proceed to the next stage, Fomichev said.

Evaluated regulations are generally related to state control and supervision, quality standards and manufacturing requirements.

Fomichev also said that the government has developed an optimization plan for state services, especially in construction, agriculture, health care, medical services, transport, which must result in removing administrative barriers for business.

“We take every business need, in construction for instance, to build a certain object. And this is not just the construction; it is also connection to facilities, various permits. We analyze which aspects are the toughest for business. Then we remove these bottlenecks with the help of regional governments and the business. The federal bodies are in charge of every particular plan,” he said.

Project Group №1Оleg Fomichev