According to the World Bank’s rating there is a favorable legal environment in Ukraine for attracting business investment in infrastructure development.

This was stated by Deputy Minister of Economy of Ukraine Iryna Novikova on 10 December, during an online seminar on the benefits of public-private partnership, held under the World Bank project “Strengthening the use of public-private partnerships through better public capital investment management in Ukraine” with the support of the UK Government. The seminar brought together about 250 representatives of civil society and local governments.

“Public-private partnership in Ukraine has become one of the most promising tools for attracting investment over the past few years. A number of successful reforms and innovations have been made to bring existing public-private partnership legislation in line with international standards and practices. Public-private partnership allows to implement priority and socially important infrastructure projects, as well as helps to improve the business climate in Ukraine,”-  said Deputy Minister of Economy of Ukraine Iryna Novikova.

She also added that an important result of the implementation of the first phase of the World Bank project is to strengthen the institutional capacity of public authorities and local governments in the initiation, preparation and implementation of public-private partnership projects.

During the seminar representatives of the World Bank spoke about the potential of public-private partnerships to improve the quality of life in Ukraine, in particular the importance of involving private business in the development of social and economic infrastructure on the terms of public-private partnerships.

Reference source: Cabinet of Ministers of Ukraine