A number of 29 normative documents for improving the predictability of the business environment are to be approved by the end of May. They provide for the creation of equal competition conditions and the diminution of the statutory compliance costs, IPN reports, quoting a communiqué from the Government.

Twenty authorities empowered to inspect economic entities are to promote sector methodologies for creating the State Inspections Register that is designed to ensure transparency and greater predictability as regards the inspections carried out at different institutions. When the register is launched, the inspection authorities will have the obligation to quarterly inform about the inspections planned at companies, while the information will be published.

It was suggested amending the law on mortgage so as to allow using the real estate as pledge for increasing access to financing. A decision is to be adopted to oblige all the public institutions and joint stock companies with majority state capital to hold public tender contests for bank services.

The World Bank will support the implementation of these economic reforms by providing financial and technical assistance.