Construction companies will be able to operate throughout the EAEU market without establishing legal entities

At its meeting on December 21 in St. Petersburg, the Supreme Eurasian Economic Council approved a package of decisions that will allow construction companies in EAEU countries to operate throughout the Union under uniform rules.

This concerns the development of a single market for services in the construction sector. The Council approved four liberalization plans covering 14 service sectors in the field of construction project management. The documents provide for the phased transition of general contracting and general design work to the principles of a single market for services.

The main innovation is that construction companies will be able to carry out work in other EAEU countries without creating additional legal entities. This will be possible thanks to the mutual recognition of permits and qualification documents issued in the country of registration of the company.

The unified rules will apply to the construction of industrial, commercial, agricultural, and residential facilities, as well as to the construction of roads and railways, energy, infrastructure, and industrial facilities.

The new measures are expected to simplify companies' entry into the markets of other Union countries, reduce administrative and financial costs, increase competition, and give additional impetus to the development of the construction industry throughout the Eurasian space.