Klyuyev: We Must Drastically Improve The Quality Of Investment Projects In Ukraine

KIEV, Ukraine -- The Government will establish a system to aggressively improve the quality of investment projects. The Senior Vice Prime Minister Andriy Klyuev said that during a meeting of the Governmental Committee on the development of industries and scientific and innovation policy.

Senior Vice Prime Minister Andriy Klyuev

The meeting considered several documents on the preparation and implementation of investment projects.

In particular, it was about the draft decision of the Cabinet of Ministers of Ukraine "About introduction of system of preparation and selection of investment projects in the real economy sector in order to raise funds for their implementation, and provide state guarantees for the funds borrowed to finance them.

"The document aims at introducing an integrated approach to the definition of public investment priorities, ensuring common principles of interaction of the central bodies of executive power during the competitive selection of investment projects.

The draft resolution also establishes the principle of "one-stop shop" for economic entities of all forms of property intending to participate in the project proposals contest.

To implement this principle a draft law of Ukraine "On preparation and implementation of investment projects on the principle of "one-stop shop" is elaborated suring meeting of the Governmental Committee.

According to the First Vice Prime Minister Andriy Klyuev, it is important to simplify the administrative formalities in the preparation of investment projects.

Only authorized government bodies - the State Agency of Ukraine for Investment and Development - must interact with all other authorities and agencies in the interest of investors in order to accelerate the implementation of investment, innovation and infrastructure projects, he said.

Creating a favourable investment climate is extremely important for us, and the President of Ukraine has set clear targets for the Government, so we need to accelerate their implementation, the First Deputy Prime Minister said.

Source: ISRIA