PRESIDENTIAL DECREE OF UKRAINE

of July 7, 2003 No. 580/2003

About additional measures for attraction of foreign investments in economy of Ukraine

For the purpose of creating favorable conditions for growth in volumes of foreign investments in economy of Ukraine and activities of foreign investors, I decide accelerations of social and economic development of regions and priority industries of production:

1. To the Cabinet of Ministers of Ukraine:

1) in three-months time:

a) prepare and submit for consideration of the Verkhovna Rada of Ukraine the bill on the state support and stimulation of investing activities in Ukraine in which, in particular, to provide:

determination of the priority directions of investing activities to which the state support, mechanisms of stimulation of investment attraction, increase in guarantees of the rights of investors is provided;

simplification of procedure for receipt of allowing nature by investors of the documents necessary for implementation of investment projects, procedure for state registration of foreign investments, certifications of products;

establishment of the administrative responsibility of officials for actions or failure to act which consequence creation of obstacles and deterioration in conditions of implementation in Ukraine of investing activities is;

b) enter system of estimation of work central and local executive bodies on investment attraction, and also the performed measures for improvement of the investment climate in the corresponding industries of economy and regions;

c) enter permanent monitoring of activities of executive bodies for provision of explanations of provisions of regulatory legal acts, provide non-admission of discrepancy of these explanations to the legislation of Ukraine, and also rapid response to the facts of deterioration in conditions of investing activities;

d) develop and provide introduction of the mechanism of assistance to creation of joint businesses with participation of foreign investors based on state-owned property, having provided measures for non-admission of violation of the principle of equality of all patterns of ownership;

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