The Government of the Republic of Srpska adopted the Draft Law on Foreign Investments during its 122nd session held on 26 April 2017 in Banja Luka. This Law regulates the rights. obligations and the status of foreign investors and modalities of foreign investments. It also prescribes the bodies responsible for approval of foreign investments, the work of the Republic of Srpska Council for foreign investors and the ways of promoting and attracting foreign investments in Republic of Srpska.
The reasons for enactment of this Law are related to the necessity to improve legislation in this area and to follow up on the changes in the Law on Direct Foreign Investment Policy of BiH.
The proposed changes are not extensive but since the Law had already been amended several times and since more than half of its articles have been changed, the proponent decided to prepare the new law under the same name.
The new Law provides for additional liberalization in the media business sector and over 49% of the main capital of the business enterprise in exceptional cases and if permitted by the relevant regulations applicable to this area. Bearing in mind the role and importance of local self-government units in attracting foreign investors and importance of cooperation between the entity government and local authorities, the Law also includes new articles that regulate these relations.
The Government passed a Decree amending the Decree on taking out and bringing in effective foreign currency, convertible marks, checks and securities. The afore mentioned Decree had to be amended as stipulated by the Action Plan of BiH for elimination of shortcomings in the fight against money laundry and financing of terrorist activities.
According to the amended Decree, the amount which the resident can take out as a passenger travelling abroad in effective foreign currency, or checks as well as the amount the non-resident can take out in effective foreign currency or the amount equivalent to the foreign currency amount, has been raised from EUR 2,500 to EUR 10,000.
The Decree has also been amended with the provision prescribing that a natural person in addition to effective foreign currency, convertible marks and checks is also obliged to report securities and other portable instruments of payment in accordance with the regulation on prevention of money laundry and financing of terrorist activities.
The Government adopted The 17th Report of the Republic of Srpska to the Security Council of the United Nations.
The Government provided its consent to the Draft Memorandum between the Government of Republic of Serbia and Government of Republic of Srpska on cooperation in the sector of aviation and authorized the Minister of the Interior of the Republic of Srpska, Dragan Lukac, to sign the Memorandum on behalf of the Republic of Srpska Government.
The Ministry of Defense of the Republic of Serbia and the Helicopter Service of the Government of the Republic of Srpska shall be in charge of implementing this Memorandum.
The Government adopted the Information Note on the initiative of the Multinational Holdings Group to conclude the Memorandum of Cooperation between the Government of Republic of Srpska – Ministry of Trade and Tourism and MULTINATIONAL HOLDINGS GROUP.
The Government authorized the Minister of Trade and Tourism, Predrag Gluhakovic to sign the Memorandum on behalf of the Government.
International company Multinational Holdings Group stated its intention to sign a Memorandum of Cooperation in the sector of tourism.
The Memorandum foresees active and partnership activities on improvement of the existing and construction of new tourist facilities and potentials of the Republic of Srpska and shall be the basis for all future agreements between the sides.
The Government also adopted the Information Note on the use of data from the Central Backup Data Base of Registry Books for the needs of the Republic Center for War Crimes Research for the purpose of implementing the "Project of Registration and Documentation of Serbian Victims during the War in BiH (tragic conflict in the region) throughout the 1992-1995 period".
The Government has agreed that the Minister of Administration Local Self-Government should sign the Agreement on the use of data from the Central Backup Data Base of Registry Books with the Republic Center for War Crimes Research pursuant to the Decree on the manner of using the data from the Central Backup Data Base of Registry Books.
The Government adopted the Decision on acceptance of the 2016 Annual Reports on Business Transactions of "Sutjeska National Park" and "Kozara National Park" public enterprises and their Work Plan in 2017.