Law on denationalisation in preparation

Serbian Minister of International Economic Relations and coordinator in the Serbian Ministry of Finance Milan Parivodic said today that preparation of the law on denationalisation and the law on decentralisation of state-owned property will be finished in a month and a half at the latest.

Speaking at a forum titled “National Alliance for Local Economic Development”, Parivodic said that the Ministry of Finance will work more effectively and faster on preparing the law on decentralisation of property which was appropriated from previous owners. He explained that natural restitution with corrective mechanisms for compensation and reimbursement for previous owners will be the basic model for decentralisation of property.

The Minister said that the new Constitution provides a solid economic framework for developing the market and a liberal economy because it clearly defines various forms of property, introduces European principles and regulates conditions for competition and openness. According to Parivodic, it is necessary to have an independent judiciary which can ensure respect of binding contracts, and protect legal security in foreign and domestic investment, in order to reach the legal security guaranteed by the Constitution.