SARAJEVO, May 12 (Hina) - The international community's High Representative in Bosnia-Herzegovina, Wolfgang Petritsch, on Friday made a decision on amendments to a framework law on the privatisation of companies and banks in
Bosnia-Herzegovina in order to protect potential investors from possible restitution claims. According to a statement issued from Petritsch's office in Sarajevo today, the decision practically excludes from the restitution procedure companies, banks and their assets which should be privatised. In case a restitution claim is legitimate, local authorities will be obligated to secure a just compensation. The decision is aimed at stimulating foreign investors to invest their money in Bosnia-Herzegovina and the basic precondition for that is the protection of funds which should help revive Bosnia's economy. Petritsch's intervention was necessary because Bosnia-Herzegovina has still not adopte
SARAJEVO, May 12 (Hina) - The international community's High
Representative in Bosnia-Herzegovina, Wolfgang Petritsch, on
Friday made a decision on amendments to a framework law on the
privatisation of companies and banks in Bosnia-Herzegovina in
order to protect potential investors from possible restitution
claims.
According to a statement issued from Petritsch's office in Sarajevo
today, the decision practically excludes from the restitution
procedure companies, banks and their assets which should be
privatised.
In case a restitution claim is legitimate, local authorities will
be obligated to secure a just compensation.
The decision is aimed at stimulating foreign investors to invest
their money in Bosnia-Herzegovina and the basic precondition for
that is the protection of funds which should help revive Bosnia's
economy.
Petritsch's intervention was necessary because Bosnia-
Herzegovina has still not adopted a law on the restitution on the
state level nor is it clear who the actual owners of numerous
companies and banks to be privatised are.
(hina) rml