An ad hoc governmental working group on studying free economic zones and territories of priority development will recommend the Government to recommence investment activities in the said areas, such a resolution was passed at a Thursday session, chaired by acting First Vice Minister Anatoliy Kinakh.

According to him, a document of legislative initiative on amending the Law on the National Budget, allowing to continue investment projects in free economic zones and territories of priority development, will be drafted within five days. As he said, the bill will be considered at a September 21 Govt session.

The Government instructed to carry out full inventory of projects in free economic zones and territories of priority development in September and within a fortnight to polish bills on stipulating investment and innovative activity and on the activity in free economic zones, with due consideration of neighbor-nations' experience and WTO demands, with a view of submitting the bills to the Verkhovna Rada in early October.

Anatoliy Kinakh cited figures, according to which, volumes of direct foreign investments reduced by 14.4 percent in 2005's first half, which fact, according to the acting First Vice Premier, caused reduction of GDP in August 2005, which Ukraine didn't face since 1999. Thus, conscientious investment projects must be continued.

Recommencement of the investment activity in free economic zones and territories of priority development won't be negatively reflected on the budget, as it will sure stop practice, when investors refuse coming in Ukraine, Anatoliy Kinakh believes.

ForUm

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