Request for Expression of Interest
Business Environment Technical Assistance Project
(IDA Grant No.H167-0 KOS)
Improving the Law on Foreign Investment
1. BACKGROUND
The Law No.02/L-33 on Foreign Investment was adopted on 21 November 2005 by the Assembly of Kosovo. On 28 April 2006, the United Nations Interim Mission in Kosovo (UNMIK) issued Regulation No. 2006/28 on the Promulgation of the Law on Foreign Investment adopted by the Assembly of Kosovo.
The UNMIK Regulation No. 2006/28 instituted a number of changes to the original law passed by the Assembly. Now that the political status of the country has changed, in order to have a law that is in full accordance with international standards and best practices, the Investment Promotion Agency of Kosovo (IPAK) / the Government of Kosovo is seeking to hire a consulting/law firm/individual (the consultant) to assist in reviewing the Law on Foreign Investment.
The project is financed by the World Bank, the Kosovo Business Environment Technical Assistance (BETA) project. BETA Project aims to improve the business environment in Kosovo as a means to reduce unemployment and foster economic growth. The BETA Project focuses on reducing uncertainty of key regulatory processes, improving delivery of related services, strengthening property rights, and increasing transparency and accountability of implementing institutions. This will be achieved by strengthening the capacity of institutions charged with administering regulatory services for businesses and property transactions.
2. SCOPE OF WORK
2.1. Objective
The Consulting firm will provide advice to the Government of Kosovo, in helping the Ministry of Trade and Industry develop an investment law, which promotes foreign investment in Kosovo and helps protect foreign investors’ rights and property according to internationally accepted best practice standards.
2.2. Tasks and Deliverables
2.2.1. Tasks
The main tasks to be implemented by the Consulting firm under this assignment include:
· An in-depth review of currently existing relevant legislation in Kosovo, in particular Law No.02/L-33 on Foreign Investment as promulgated by UNMIK Regulation No. 2006/28. The review shall take into account the implications of the amendments introduced by UNMIK Regulation No. 2006/28.
· Specific recommendations as to how to amend the existing legislation to reflect internationally accepted best practice standards in investment legislation. The recommendations shall be based on the above mentioned review of current legislation and shall reflect the government of Kosovo’s welcoming attitude towards foreign investment.
2.2.2. Deliverables
The Consulting firm main deliverable will be a written report
1. detailing the implications of UNMIK Regulation No. 2006/28 on the standard of legal protection of foreign investment as established by Law No.02/L-33 on Foreign Investment including recommendations to amend the Law on Foreign Investment
and
2. Providing specific proposals for amending the Law on Foreign Investment to reflect international best practices. In particular the report will include a detailed inventory of paragraphs and clauses that are proposed for amendment / elimination / inclusion. The inventory will specify the exact text passage in the current law, propose and spell out the proposed amendment and provide concrete examples from international best practice to illustrate the proposed amendment. The consulting firm should write a concept paper outlining the changes on Foreign Investment Law. In addition, the consulting firm should organize several meetings with different stakeholders, including business community, foreign investors, business associations and other local and central governmental institutions to discuss what needs to be changed. After these steps and activities have taken place, the consulting firm will provide the necessary changes of the law or draft a new law depending on the magnitude of the changes of the existing law. This version then is sent to all stakeholders for their feedback, after which the consulting firm will prepare the final version of the law and the Minister of Trade and Industry can present this law at the Government of Kosovo. If the Government of Kosovo asks for more specifications the consulting firm will be available to provide, and finally the consulting firm will prepare a speech note for the Minister, so that the latter will present, in front of the members of Parliament, all the changes made and why those changes were necessary.
The consulting firm will deliver a presentation of the report to the Ministry of Trade and Industry and will be available to provide clarifications regarding the proposed amendments to Ministry staff involved in the legal drafting of the law.
2.3. Qualifications required
The Consulting firm should have a strong background in legal matters and legal drafting, in particular in the area of investment legislation. In addition the consulting firm should have a background in economic development and foreign direct investment issues. The Consulting firm must have the following background experience and qualifications:
· Have qualified lawyer(s) with at least 10 years relevant experience in the area of legislative review, legal drafting, foreign investment promotion or private sector development;
· Have a thorough understanding of global FDI development and legal frameworks;
· Have a thorough understanding of the political and economic dynamics in Eastern and South East Europe;
· Be highly knowledgeable of legal standards and policies related to investment promotion and economic development best practices.
2.4.Expression of Interest Aspects
IPAK now invites eligible firms to indicate their interest in providing their services. Interested firms must provide information indicating that they are qualified to perform the services (reports, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc).
Consultants may associate to enhance their qualifications.
The Expression of Interest (EOI) should include a short summary of the consultant firm and consultants’ experience and expertise in the above listed areas.
2.5. Supervision, Budget and Timing
The consulting firm will be supervised by CEO of IPAK.
The level of effort is estimated at 50 working days. Work under this ToR will commence on February 2012, and will end on May, 2012.
Evaluation Criteria - A consulting firm will be selected based on:
· Extensive expertise in FDI development and legal standards, policies and frameworks (50%)
· Relevant work experience with implementation of similar projects in Eastern Europe and/or transition economies (40%)
· Key professional staff qualifications and competence for the assignment (10%)
A consulting firm will be selected in accordance with the procedures set out in the World Bank’s Guidelines: Selection and Employment of Consultants by World Bank Borrowers, edition of May 2004 , according to selection based on Consultants Qualifications (CQ) method.
Interested consulting firms may obtain further information at the address below during office hours: 08:00 - 16:00 hrs (Monday to Friday)
Expressions of Interest must be delivered via email or hard copy to the below address by 4.00 pm on or before until 21 February 2012.
Central Procurement Agency
Emine Masurica, Procurement Officer
Germia Building; Mother Teresa; Fourth Floor A/403
10 000, Prishtinë, Republic of Kosovo
Tel: +381 38 213 057
E-mail:
3