Foreign trading rights have been granted to firms applying for them. There are no arbitrary or restrictive travel provisions for entering or leaving the country. The Foreign Investment law is liberal, allowing for full profit and capital repatriation, access to land through long-term leasing, and the registration process is free from restrictive screening procedures. Licenses are required in the military production, natural resources, and banking sectors. Foreign investors have complained of a lack of transparency, particularly through arbitrary and capricious tax practices.
Importers have free access to foreign exchange on presentation of order papers.
Exporters have to repatriate earnings within a month, but can keep the receipts in foreign exchange accounts. The lev has been allowed to float under a system of internal convertibility. It is estimated that 43 percent of GDP is generated by private economic activity. There are some 3,700 state enterprises. Privatization has been slow due to a lack of political will and complicated procedures.