The Ukrainian Government approved the draft law on concessions

Today, the Government approved a draft law on concessions to unlock the hidden opportunities for attracting a significant amount of foreign investment in infrastructure modernization.

The bill provides for a wide range of areas in which concession contracts can be concluded — port infrastructure, roads, utilities, healthcare and energy facilities. The project also provides for an open tender with the possibility of attracting advisers to conclude a concession agreement.
According to the new bill, not only the state, but also a private investor (private offer) may initiate the contest.

With a view to streamlining land, tax and licensing procedures, the bill also provides the coordination of the concession tender and the settlement of land allocation issues, the granting of permits, etc., so that the winner of the competition has the opportunity to implement the project «turnkey».

An important element of the new draft law is the introduction of the possibility of converting existing lease agreements into concession agreements — for the duration of the lease agreement, in case if the tenant complies with all requirements of the concession legislation.

We are grateful to Minister of economy Stepan Kubiv and Deputy Minister Mikhail Titarchuk for the active support of the bill. In the near future, we expect the government to submit the draft law to the parliament and its subsequent approval and implementation.

From: Office of the National Investment Council of Ukraine


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