12:27 09.11.2016

Economy ministry: Concession legislation reform starts in Ukraine

2 min read
Economy ministry: Concession legislation reform starts in Ukraine

The interagency working group for concession legislation reforms at Ukraine's Economic Development and Trade Ministry jointly with the European Bank for Reconstruction and Development (EBRD) has begun working on the new version of the law on concessions on Tuesday.

"We finally have given the start to the concession legislation reform! We would systemize four current laws in the new version [of the law], remove inconsistencies and harmonize the law with legislation on public private partnership," First Deputy Minister of Economic Development and Trade Yulia Kovaliv said on Facebook.

She said that today's four laws sometimes contradict one another. In addition, current legislation does not set transparent procedures for initiating and drawing up concession projects, making decisions on their viability.

Kovaliv said that concession is a more beneficial mechanism for the state to manage state-owned property than leasing, for example.

"Concession removes a possibility of so-called "hidden privatization" when lessees of state-owned property registers ownership right to improvements they made and demands compensation for the cost of these improvements from the state," she said.

The working group consists of representatives of the Economic Development and Trade Ministry, Infrastructure Ministry, Energy and Coal Industry Ministry, Regional Development, Construction, Housing and Utilities Economy Ministry, Finance Ministry, lawmakers, representatives of parliamentary committees for economic policy, industrial policy and entrepreneurship.

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