Date: 25/06/2015

Economic Caucus on Draft Law on Conversion

AmCham Real Estate Committee participated in the 14th meeting on economic caucus on the Draft Law on Conversion

Since public discussion on this important piece of legislation, related to planning and construction, has entered the final phase, meeting was aimed to inform the MPs about key solutions provided by the Draft, but also to hear private sector stances on most important issues.

Caucus was attended by numerous MPs, representatives of the Ministry of Construction, Transport and Infrastructure, Republic Geodetic Authority, and representatives of business community.

State Secretary Aleksandra Damnjanović emphasized that the current version of Draft Law on Conversion was developed in close cooperation between a working group and business associations. She thanked AmCham Real Estate Committee for providing comments, most of which were incorporated in the Draft Law. To see AmCham comments on the Draft Law on Conversion, please follow this link.

Business representatives presented their additional suggestions that mostly referred to the need for further improvements of the Draft Law, which define more closely the conditions for "conversion", primarily the need for extension of defined deadline for construction with right of use.

All participants agreed that the adoption of this law will positively influence the growth of construction industry and other investments.