The Government of the Republic of Srpska, at its 101st session, held on December 17, 2020, has adopted the Law Proposal on Free Zones of the Republic of Srpska.
This Law regulates the requirements for the establishment and operation of free zones, activities that can be performed in free zones and conditions for their performance, termination of free zones, as well as other issues of importance for the operation of free zones in the Republic of Srpska.
In relation to the valid legal solution, the draft law specifies the procedure for establishing and commencement of work of free zones, stipulates provisions on changing the borders of free zones and mandates reporting to the Government of Republic of Srpska on business of free zones located on its territory in aim of monitoring the results of free zone operations. The Ministry of Economy and Entrepreneurship has been designated as the competent body that participates in the procedure of establishing free zones and keeps records on the number of free zones on the territory of the Republic of Srpska and the results of their operations.
The draft law creates conditions for further improvement of the business environment and increase of competitiveness as a basis for attracting investments, better utilization of industrial potentials, as well as introduction of new technologies and creation of new jobs.