The Verkhovna Rada of Ukraine has Created a Special Commission for Investors Protection. What will it work on?
Galina Yanchenko, MP, the Deputy chairman Faction of the political party "Servant of the People" in The Verkhovna Rada of Ukraine, The Deputy chairman of the Verkhovna Rada Committee on Anti-Corruption Policy
Attracting foreign investment should be a top priority for all branches of Ukrainian authorities. It has been repeatedly emphasized on by the President of Ukraine Volodymyr Zelensky. Now the parliament will also take an active part in such work.
On the 5th of June the Verkhovna Rada of Ukraine voted the draft law №2601 «On the Formation of the Temporary Special Commission of the Verkhovna Rada on protecting investor rights». It was supported by a constitutional majority of 319 parliamentarians’ votes.
In times of economic crisis caused by coronavirus foreign investments are badly needed for our country. Not only loans, but external investments could be a real rescue for Ukrainian economy. Actually, in order to engage the Parliament in this process we have launched the Temporary Special Commission.
In the format it will be a collegial Verkhovna Rada's body composed of 13 MP’s from almost all deputy factions and groups. Two heads of committees and six deputy chairmen of committees are among them.
The members of the TSC will look like this: I have headed the Commission and Jaroslav Zheleznyak, the member of the «Holos» Faction, will be my deputy. The commission also included seven more MP’s from the «Servant of the People» faction – Dmytro Natalukha, Andriy Kostin, Oleksij Krasov, Vladlen Neklyudov, Halyna Mikhaylyuk, Sergij Ionushas and Artem Kultenko.
Faction of the political party the All-Ukrainian Union «Batkivshchyna» in TSC will be represented by Andriy Nikolayenko, the deputy Group «For the Future Party» - by Larisa Bilozir, the «Dovira» Group - by Robert Horvat, and Faction of the political party «Opposition Platform by For Life» - by our colleague Ihor Abramovich.
The Temporary Special Commission will be a professional body of the Ukrainian parliament. The main goal of its work will be creating a favorable investment climate in Ukraine.
The work of TSC will be carried out in two directions. The first one is reforming and developing Ukrainian investment legislation. Nowadays there is a real competition between countries for an investor. A simple and clear investment legislation could be our additional «bonus» and a competitive advantage.
The second major direction of TSC’s work will be dealing with business complaints.
Unfortunately, we have to admit that in Ukraine there are still selected examples of interference in business activities of some individual government officials. The parliamentary TSC will be the body that could use the parliamentary control function to respond to complains and to come to aid as soon as possible.
Moreover, according to the results of consideration some business complaints the Temporary Special Commission will offer legislation amendments to prevent such situations in the future. If the problem is related to the human factor, the TSC will raise the issue of personnel shifts.
Based on business appeals we will bridge gaps and fix «weak points» of Ukrainian legislation. Our goal is to create a favorable investment reputation in Ukraine.
One of the first legislative initiatives that we will propose within the framework of the TSC will be a package of «anti-raider» draft laws. We will present it in the near future. The first ground work on this package have already been sent to representatives of Ukrainian and foreign business associations. We will hold public discussion on this matter soon.