15:32 21.03.2017

Decentralization in Ukraine promotes implementation of the investment projects. Stakeholders should be aware of it - ICEG

Prospects of implementation of the investment projects in Ukraine in the context of FIDIC standard forms of contract were presented to the international community by the representatives of Interstate Consultants Engineers Guild (ICEG, Ukraine). The presentation took place during the special session "Breakfast with Ukraine" in the framework of FIDIC European Regional Conference "The road to smart infrastructure" held in early March in Belgrade (Serbia).

The Conference was attended by representatives of the construction industry, government officials, financiers, investors from around the world.

"Ukraine aims to become a partner of the European community. We are interested in implementation of joint investment projects. It is clear that the international financial organizations, other investors want to apply effective mechanisms for implementation of the projects. All parties are interested in a fair allocation of risk and liability. Transparent rules of contractual relations are required. In particular, these rules are defined in FIDIC standard forms of contract", said in his speech Oleksandr Nepomnyashchyy, ICEG President.

He drew attention to the fact that implementation of the internationally recognized forms of contract, including FIDIC standard forms, in practice the contractual relationship in construction requires not only the official translation of such documents, but also making systemic changes to the town planning legislation of Ukraine. "ICEG jointly with relevant government institutions is working hard on solving this issue," said Oleksandr Nepomnyashchyy.

In general, during the Conference ICEG representatives presented legal rules for implementation of the international investment projects in Ukraine, focusing on the priority of infrastructure, road transport and energy efficiency projects. They also singled out problematic aspects of legal regulation in the construction sphere and near-term prospects of improvement of the legal framework in the context of harmonization of national regulations and building codes with the European requirements and standards.

"Ukraine needs powerful investment projects and today, more than ever, there is a favourable situation for their implementation. The quality transformations that are currently taking place in the Ukrainian economy due to authority decentralization, delegation of authorities onsite, promote the efficient implementation of development projects. Investors should be aware of it," said Yurii Prav, ICEG Vice President.

This material is being published on a commercial basis. Interfax does not assume liability for the content of the material.

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