Ukraine: foreign investment rules amended
Description
On December 23, 2009 the National Bank of Ukraine adopted Resolution No. 762 "On Regulation of Issues Regarding the Making and Registration of Foreign Investments". The Resolution lays down the procedure for registration of foreign investors within 30 days from making the investment. More importantly, the several changes to the main act regulating foreign investment in monetary form in Ukraine - Regulation No. 280 "On Foreign Investment in Ukraine". Among others, all operations concerning investment can only be performed in Ukrainian currency through a local bank, similar rules will apply to the return of the foreign investment and deposits. The term "direct investment" disappears. The Resolution became effective on 15 March 2010.
The latter measure disadvantages foreign banks providing services to foreign investors.
Any Evidence-Based Deliberation:
| Question | Result |
|---|---|
| Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations? | |
| Is there any evidence that alternatives to the proposed measure were considered? | |
| Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government? | |
| Was such evidence identified? | |
| Is such evidence publicly available? | |
| Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives? | |
| Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken? | |
| Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory? | |
| Did the government state its intention to review the measure within one year of implementation? |
Date Discovered: 23/08/2010
Implemented: Yes
Date of inception: 29 Dec 2010
GTA Evaluation: Red
Government Response:
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