One of the priorities of the Ministry of Economic Development of South Ossetia is to form a competent investment policy. As part of the Action Plan for the development of laws and other normative legal acts of the Republic in the sphere of investment activity, the judicial system, as well as civil and arbitration procedural legislation, the draft law "On investment activity in the Republic of South Ossetia " was introduced by the Ministry of Economic Development and approved at a meeting of the Government.
According to the Acting Minister of Economic Development Inna Grunwald, adoption of this bill will direct the investment activities in the legislative field, ensuring secure and transparent support, thereby stimulating the involvement of foreign investors in South Ossetia.
According to her, the Ministry of Economic Development, jointly with the Presidential Executive Office of the Russian Federation is seeking for extra-budgetary sources, as well as elaboration of a mechanism to attract investments into the Republic.
"Following a meeting with the head of the RF Presidential Department for socio-economic development with CIS countries, Abkhazia and South Ossetia Oleg Govorun, were identified extra -budgetary funding sources," - said Grunwald.
Extra-budgetary funding will be provided by "Vnesheconombank", public corporation "Rosagroleasing," National Programme "Support and development of small and medium-sized businesses in the Republic of North Ossetia-Alania for 2014-2017."
She has clarified that the Department of small and medium-sized business of the Economic Development Ministry together with the Department for support and development of small business of North Ossetia-Alania analyzed and worked out investment projects and business plans, , as well as mechanisms to implement support for entrepreneurs in South Ossetia.
"As part of the development of the Investment Program to promote socio- economic development for 2015-2017 are worked out investment projects aimed at the development of industries and agriculture," - she said.
