Law on public private partnership to stimulate arrival of investors to Ukraine in 2011, says MP

Kyiv, December 23 (Interfax-Ukraine) – The law on public private partnership that took effect and the creation of a council of foreign investors at the parliamentary committee for industrial and regulatory policies and entrepreneurship would allow increasing the interest of foreign investors to Ukraine, according to the committee head, Natalia Korolevska.

"The law on public private partnership has been passed… It should be an impetus for the arrival of investors in 2011. Our task today is that it is not to remain ink on paper, but it is realized in full," she said at a press conference at Interfax-Ukraine on Wednesday.

She said that the parliamentary committee asked all embassies and all European business associations to tightly cooperate and exchange information on the facts of the hindering of foreign investors' actions… when foreign investment in Ukraine are under pressure of law-enforcement bodies and other requirements, which confuse foreign investors and they cannot decide to enter Ukraine," she said.

"I think that in early 2011 we would be able to present a complete council of foreign investors," she said.

As reported, earlier Korolevska proposed to create a consultative body for the committee, the council of foreign investors, so that its work would stimulate foreign investment growth in Ukraine.

The work of the council would allow the committee to quickly react to situations as they arise and eliminate obstacles to foreign investment to Ukraine, she said.

On July 1, 2010 the Ukrainian parliament adopted the law on public private partnership. The law sets out the legal, economic and organization basis for public-private partnerships, regulates relations linked to the drawing up, implementation and cancellation of agreements signed as a part of public-private partnerships and set guarantees for observation of the legal rights of the sides.