In Moldova, will be adopted the so-called deoffshorization law, which will prohibit the participation of offshore companies in privatization, concessions, PPPs, public procurement, etc.
The parliamentary commission on economics, budget and finance has considered this document and will propose the plenary session of the parliament to approve it. In particular, the draft law amending certain legislative acts (the so-called law on deoffshorization) will establish a ban on participation in the procedures of privatization, public-private partnerships, public procurement, concessions of works and services for legal entities established by entities from jurisdictions that do not comply international standards of transparency, by legal entities, which include directly or indirectly persons with registration or location in such jurisdictions. The draft law provides for changes regarding the definition of the following concepts: a privatization participant, a provider in the field of public-private partnerships, an economic operator, a participant in public procurement procedures, as well as a concession of works and a concession of services. “The law on deoffshorization is aimed at updating the national legislative framework in order to ensure effective and comprehensive fulfillment of the obligations undertaken by Moldova in the field of preventing money laundering and ensuring transparency of funds, including obligations from the RM-EU Association Agreement,” the authors of the bill noted. They proposed that Parliament amend the Law on the Management of Public Property and its Denationalization, the Law on Public Private Partnership, the Law on Public Procurement, the Law on Work Concessions and Service Concessions. According to the bill, the government will have to approve a methodology for establishing jurisdictions that do not implement international transparency standards, as well as their list. Previously, the chairman of the commission on economics, budget and finance, the head of the special parliamentary commission to analyze the organization and conduct of privatization and transfer of state property to concessions in 2013-2019. Igor Munteanu noted that the so-called deoffshorization law is designed to create safe and effective legal mechanisms to protect the interests of the state in the process of managing state property, purchasing, privatizing, concessions and implementing other forms of public-private partnership in the public sector. He noted that the risks currently facing the public sector of Moldova can be eliminated only by radical measures that will help prevent the participation of entities from jurisdictions in these processes that do not adhere to international standards of transparency and which could jeopardize the interests of the state and citizens. Igor Munteanu emphasized that although Moldova has signed a number of important conventions in the field of preventing and combating criminal activities, money laundering and the financing of terrorism, the public sector continues to be exposed to serious security threats originating in offshore jurisdictions that do not implement international transparency standards. “We want to eliminate this danger if, I hope, in the Moldovan parliament there are no“ daredevils on duty ”who will oppose this project. This would be a shame, especially after the catastrophic failures associated with the privatization / concession of some strategic enterprises by dubious offshore companies in past years, ”he emphasized. // 18.09.2019 — InfoMarket.