Stepan Kubiv inked Agreement for encouragement and protection of investment between Ukraine and the OPEC Fund for International Development
26.05.2017 15:08 | Fin.Org.UA / Ukrainian Government
On May 26,
First Deputy Prime Minister/ Minister of Economic Development and Trade of
Ukraine Stepan Kubiv in
Vienna, Austria signed an Agreement for the encouragement and protection of
investment between Ukraine and OPEC Fund for International Development.
The
document envisages the provision of an MFN regime regarding disposal of
investment and will predictably facilitate an increase in foreign investment
into key sectors of Ukraine"s economy.
"We view
the OPEC Fund as an important partner and strong financial institution. The
Agreement shall strengthen the mutually beneficial cooperation between Ukraine
and the Fund aimed to achieve sustainable socio-economic growth and to enlarge
opportunities for human resources development to improve the quality of life of
Ukrainian citizens", said Stepan Kubiv.
Moreover,
he added that the OPEC Fund for International Development is financing the
public sector without any additional requirements, while for allocating funding
for the private sector the Fund requires signature of a framework agreement
with the Government of the country concerned for the encouragement and
protection of investment.
"The Agreement
will promote efficient leveraging of investment channeled by the Fund in
Ukraine"s economy as well as support for small and medium enterprises in
various sectors including energy, infrastructure, agriculture and others. For
us it is an additional financial resource to contribute to the development of
the Ukrainian State", said Stepan Kubiv.