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Andrii Myroshnichenko: Donetsk and Luhansk oblasts are territories of priority development

Published 30 April 2021, at 09:30

The strategy of economic development of Donetsk and Luhansk oblasts as well as the law on the special regime of activity in these regions will be the key prerequisites for the development of the eastern regions and will help to attract foreign investors to their development.

Andrii Myroshnichenko, Advisor to the Deputy Prime Minister of Ukraine, Minister for Reintegration of Temporary Occupied Territories of Ukraine, stated the aforementioned during the discussion "Strategy of economic development of Donbas: from the territory of war to the territory of development", organized by FES-Ukraine center.

"In fact, our objective is to establish comfortable conditions for all citizens living in these territories through economic growth and therefore ensure filling of community budgets. Currently the next stage of decentralization of power has actually taken place - local communities have received both financial and regulatory opportunities to develop their environment. That is, we move towards the establishment of prerequisites for development of sustainable communities," noted Myroshnichenko.

According to him, in June it is planned to submit the Strategy of economic development of Donetsk and Luhansk oblasts to the Government for approval, and by July the Parliament may consider a bill on the special regime of activity in Donetsk and Luhansk oblasts. In this case, there is an opportunity to fully launch this mechanism on January 1st, 2022 and to start realization of the Strategy. 

Furthermore, international investors will play a significant role in the economic development of the region. In addition to investments, international partners are also expected to participate in the supervisory board of the territory of priority development, as well as in the consortium fund and other projects that will be realized in the territories of Donetsk and Luhansk oblasts.

"In fact, we are saying that the state should establish a new framework in which we either level the situation in these regions of Donetsk and Luhansk oblasts, or use this territory as a platform for modern regulatory approaches or development of the business environment," said Andrii Myroshnichenko.

In addition, Advisor to the Deputy Prime Minister initiated a meeting with international investors. The Parties supported the idea, and separately noted the successful work of the Ministry in the context of the development of the Strategy.

"It is integration into the international community and international economy, and I think that the team of the Ministry, which is headed by Deputy Prime Minister Oleksii Reznikov, has done a great job and made significant progress," said Jock Mendoza-Wilson, Director of International and Investor Relations at System Capital Management.

Let us recall that in December 2020 the Government has approved the Concept of economic development of Donetsk and Luhansk oblasts.