President promises to expand powers of regions

The new regional policy, which determines the increase in powers of the territories, their resource potential and interregional cooperation, opens new opportunities for investors, President of Ukraine Viktor Yanukovych said, speaking at the fifth International Investment Summit in Donetsk, ForUm learned from the president’s press office.

The regional authorities have the primary responsibility for establishing a constructive dialogue with domestic and foreign investors, the President said.

"The local authorities have a clear picture of the economic condition of the territories, their investment potential, problems and needs, the vision of the strategic priorities of regional development. Therefore, we intend to further expand the powers of the regions in solving the pressing economic issues," Yanukovych said.

According to the President, the regional councils of investors, established in all regions of Ukraine, need to work closely with the local committees on economic reforms.

"I has defined the effectiveness of such cooperation is as one of the main criteria for the effectiveness of regional leaders’ work. I appeal to the investors: use this mechanism to raise all the issues you care about at the meetings of these councils," he said.