Volodymyr Kistion: Government gives green light to business investing in Ukraine's seaports sector

A draft decree of the Cabinet of Ministers of Ukraine on the procedure and terms for the conclusion of contracts on the basis of which investments made by economic entities in the objects of the port infrastructure of Ukraine will be compensated sees the final stage of preparation. This was announced by Vice Prime Minister of Ukraine Volodymyr Kistion during the meeting of the Logistics Committee.

According to the Vice Prime Minister, the law "On Sea Ports" (Article 27) is in effect for 5 years in accordance with the provisions of which investors who are engaged in the modernization or construction of port facilities can be provided with indexation of their investments.

«There is a direct-effect provision of the law as well as there are market participants' requests, but by that time no relevant sub-normative legal acts have been adopted that would be able to kick off the process of indexation of  investments made in the port industry of our state. This is a major decision and a positive signal to the business», stressed Volodymyr Kistion.

The Government in synergy with the business and experts is engaged in developing of a clear and transparent mechanism aimed to leverage investments into the development of Ukraine's logistics system as well as is engaged in working on solutions that will satisfy both the state and market participants and society.

«The draft decree is at the final stage of elaboration. Today, together with business we touched upon the last instruments - the mechanisms of legalization of unregistered for objective reasons of objects of the port infrastructure both state and private-owned, in order to eradicate any contradiction and abuses after this document will be implemented», highlighted the Vice Prime Minister.

Apart from that, the Logistics Committee considered the issues of liberalization of tariff regulation for international rail transportation, as well as issues of the procedure for improving the information exchange between the tax administrations and other state authorities and enterprises on the basis of the one-stop-shop service with the use of electronic means of information transmission.

Logistics committee was designed in January this year under the chairmanship of the Vice Prime Minister of Ukraine Volodymyr Kistion. It is a platform for a constructive dialogue with the business and the expert environment in order to elaborate normative legal acts necessary for reforming of Ukraine’s transport infrastructure.