Government to submit new draft law on concessions in March – ministry

Government to submit new draft law on concessions in March – ministry

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Ukrinform
The Cabinet of Ministers in March intends to submit to the Verkhovna Rada a new draft law on concessions in Ukraine.

Deputy Economic Development and Trade Minister Mykhailo Titarchuk stated this in an interview with Ukrinform.

“On December 27, 2017, the government approved the draft law ‘On concessions’. This document is important for us because the current legislation is obsolete. We have systematized and finalized four laws and developed one draft law on the public-private partnership... Now the Secretariat of the Cabinet is completing the draft law, amendments are being introduced. We are planning to send it to the parliament in March,” he said.

Titarchuk explained that in the process of applying a concession, transparent competition is held. The winner then should modernize, reconstruct and manage the facility, while possible risks will be divided between the private partner and the state.

He also noted that after the adoption of the relevant law by the Verkhovna Rada, conditions for doing business will become more transparent and attractive for investors.

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