Rada passes at first reading bill canceling official registration of foreign investment

09:36, 11.05.2016 1 min read

The Verkhovna Rada has passed at first reading bill No. 2763 amending some Ukrainian laws regarding the revoking of obligation for official registration of foreign investment.

A total of 261 lawmakers backed the decision on Tuesday.

The lawmakers also voted in favor of the reduction of the term of preparing the bill for second reading (240 deputies).

According to an explanatory note to the document, the measure will cancel obligation of the previous official registration of foreign investment and the replacement of the official registration by the submission of statistics on foreign investment.

Obligation to register foreign investment creates obstacles for business, and the registration procedure has no informative sense, as this information is open to public.

The implementation of the measure would allow creating a modern and as simplified as possible procedure for raising investment in Ukraine.