23.06.2020
The new law, for the purposes of eradicating problems existing in the wood sector, sets forth the system for sustainable management of forests, that ensures the improvement of quantitative and qualitative indices of woodland, protection of biodiversity, efficient utilization of economic potential without prejudice to ecological values, involvement of society in the management of forests and fair redistribution of the resulting benefit.
Legal alert: newly licensed activities of real estate brokerage in Mongolia
Real estate brokerage activities as non-financial business and professional service provider shall be considered as licensed activity in accordance with framework of improving policies, strategies and regulations to combat money laundering and terrorist financing. Accordingly, Financial Regulatory Commission (the FRC) of Mongolia approved “Procedure for Licensing, Permitting, Authorization and Registration of a real estate brokerage company” (the Procedure) by the resolution No 120, dating 11, March 2020.
E-wallet. Emission of electronic money in Uzbekistan
The development of FinTech has leapfrogged for the recent two years in Uzbekistan. Concretely, emission and sale of electronic money ("E-money ") was not regulated by the Uzbek legislation in the past. Herewith the very idea of creating a special electronic payment system was not feasible until 2020.
Land Rights of Foreign Subjects In Belarus
Foreign subjects’ ownership right to land in Belarus is limited to and can be exercised in certain cases, mainly the usage of land is carried out on other types of land rights.
Expected changes in Kazakh legislation related to the implementation of the blockchain technology
The Parliament of the Republic of Kazakhstan is currently considering a draft law of the Republic of Kazakhstan 'On the Introduction of Amendments to Some Legislative Acts of the Republic of Kazakhstan on the Regulation of Digital Technologies' (hereinafter - the 'Draft Law'). The Draft Law provides for changes to a number of regulatory legal acts regarding legal support for the implementation and application of digital technologies in Kazakhstan.
COVID-19 and Changing Patterns in Global Economy
In a coronavirus situation when people stay at home, consumption becomes limited and businesses suffer; the
focus of solving state economic problems shift from monetary policy to a fiscal one. The spread of coronavirus and inability of the OPEC countries to develop joint policies contributed to decrease of Brent oil price. The double shocks of pandemic and political-economic news have created an environment of unprecedented uncertainty. As a result, oil and gas companies, as well as oil-producing countries will suffer.
focus of solving state economic problems shift from monetary policy to a fiscal one. The spread of coronavirus and inability of the OPEC countries to develop joint policies contributed to decrease of Brent oil price. The double shocks of pandemic and political-economic news have created an environment of unprecedented uncertainty. As a result, oil and gas companies, as well as oil-producing countries will suffer.