President of Ukraine Signs into Law the Legislative Changes to Ensure Transparency in Extractive Industries Developed with Participation of MFSI-II
13 July 2015
On 10 July 2015, the President of Ukraine signed the Law "On Amending the Legislative Acts of Ukraine for Ensuring Transparency in Extractive Industries" co-authored by MFSI-II experts.
The respective bill for ensuring transparency in extractive industries (Reg. No. 2591 of 7 April 2015) was approved by the Verkhovna Rada of Ukraine on 16 June 2015.
The law will contribute to more transparent operations of extractive industry enterprises, creating the conditions for participation of the general public in the management of natural resources, specifically, with regard to overseeing the completeness of remittances to the State budget of Ukraine by extractive industry enterprises. Also, the law will ensure implementation of the Extractive Industries Transparency Initiative international standards to provide for transparent operations of extractive industries, which, in turn, will improve the country's investment climate and support stronger actions to combat corruption.
The respective bill for ensuring transparency in extractive industries (Reg. No. 2591 of 7 April 2015) was approved by the Verkhovna Rada of Ukraine on 16 June 2015.
The law will contribute to more transparent operations of extractive industry enterprises, creating the conditions for participation of the general public in the management of natural resources, specifically, with regard to overseeing the completeness of remittances to the State budget of Ukraine by extractive industry enterprises. Also, the law will ensure implementation of the Extractive Industries Transparency Initiative international standards to provide for transparent operations of extractive industries, which, in turn, will improve the country's investment climate and support stronger actions to combat corruption.
Glyanec