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Committees

In line with the Foreign Investors Council's mission to actively contribute to the improvement of the investment environment, the FIC operates through relevant sector based and cross functional committees, spelling out specific positions on respective areas of expertise.

The committees work on identification of specific obstacles to investments and investor operations, organize forums for discussion on relevant subjects and propose solutions to overcome the existing doing business barriers. The set of recommendations, which represent the main concerns to the FIC members, constitute the yearly "White Book" edition.

Key postulates of FIC committees are:

  • Committees are "live" forms, established based on the interest of the members and in line with the changes in the business environment
  • Active involvement in committee work is on voluntary basis, reserved exclusively to FIC members
  • Establishment of the sectoral committee is based on demand of the representatives of the specific industry

FIC committees initiate and develop a direct dialogue with the relevant government authorities, giving contribution to the introduction of the European norms and standards into the domestic legislative framework.

By active engagement in FIC committees, member companies have the opportunity to:

  • Propose solutions for overcoming the existing obstacles in doing business
  • Raise and discuss regulatory issues relevant to the industry they represent, thus creating the common position to be advocated for
  • Give contribution to drafting "White Book"
  • Share positive practice and experience
  • Have early access to draft legislation and give comments/suggestions for improvements
  • Gain first hand information on recently enacted legislation
  • Set up direct contact with persons responsible for implementation of different regulation

Each committee elects a President and Vice President, who are responsible to organize its work and define targets on annual basis. The mandate of committee chairmen lasts two years and they can be re-elected. The committee members are representatives of different companies, the FIC members.

All Committees work upon established procedures defined by the FIC Statute and sub-statutory documents: Guidelines for Organizing and Operating of the Specialized Working Committees and General Rules of competition Law Compliance of Foreign Investors Council.

The Board of Directors supervises the work of Working Committees, approves decisions adopted by Working Committees expressing the views of the Council. The Executive Director coordinates the work of all Working Committees.

There are two types of committees - cross functional committees, related to the common issues across different industries and sectoral committees, related to specific industry. In order to secure proper functioning of the committees, each member of the Council may choose between the status of an active member of the Committee and the observer member status. The active member has the full scope of rights and obligations prescribed by the Statute and sub-statutory documents. The observer member has the right to be informed about the activities of the Working Committee.

Following committees take an active role in presenting the views of the foreign investors:

  • Legal Committee
  • Human Resources Committee
  • Tax Committee
  • Anti-Illicit Trade Committee
  • Food and Agriculture Committee
  • Real-Estate Committee
  • Telecommunications & IT Committee
  • Leasing & Insurance Committee

 

Extract on FIC working committees from the FIC Statute

Guidelines for Organizing and Operating of the Specialized Working Committees

General Rules of competition Law Compliance of Foreign Investors Council