Attracting investments in the fishing industry – Parliament Committee supported the bill 8119

The Committee on Agrarian and Land Policy of the Parliament of Ukraine recommended the adoption of the bill No. 8119 as a basis, which will promote both the development of the fishing industry and the growth of the economic potential and competitiveness of the production of aquatic biological resources and products from them in Ukraine.

BRDO team took part in the development of the document together with the Ministry of Agricultural Policy and the State Fishing Agency of Ukraine.

What does the bill envisage?

  1. Attracting investments in the development of the fishing industry will take place according to an open, public and transparent procedure and on a contractual basis. The possibility of signing such contracts will be realised by conducting open auctions in the form of electronic bidding with equal access to participation in them. In addition, control and monitoring of the results of the execution of contracts, mechanisms of mandatory reporting by investors, etc. are established.
  2. Lists of objects of attraction of investments will be determined for the first time by the Ministry of Agricultural Policy – this will allow to identify the priority areas of development and the amount of necessary investments in the field of aquaculture.
  3. Aquaculture and mariculture in Ukraine will receive a powerful push for development – in particular, the adoption of the draft law will promote the development of SMEs (for example, in terms of opening new farms for growing mussels and oysters, fish farms for growing sturgeon and trout, and others).

BRDO welcomes the approval of the bill No. 8119 by the Committee and awaits its approval by the Parliament.