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In order to make cooperation with investors more efficient, the Cabinet of Ministers has approved the Procedure and criteria for selection of investment projects, whose development or implementation is supported by government, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
The document was prepared by the Ministry of Economic Development and Trade in accordance with the Law of Ukraine "On investment activity." Within three months, experts of the Ministry must supplement it with regulations to manage the compliance with the above procedure at the level of Ministry.
In particular, it envisions that investment projects for provision of state support are selected on a competitive basis through special commissions established by state authorities and local self-government bodies. However, it does not apply to investment projects with state guarantees approved by the Government, in this case, the projects are selected by a commission established under the Ministry of Economic Development.
Meetings of such committees may be attended by representatives of investment facilities, who, in case of need, will provide explanations on the projects.
Announcement about selection of investment projects will be published in official media and posted at the official website of the relevant state agency not later than 30 days prior to start of selection.
Experts at the Ministry of Economic Development say that state support of investment projects can be implemented through financing, co-financing, crediting, compensation of actually paid interest, granting of state and local guarantees regarding the debt obligations on borrowings taken by businesses.