“The Cabinet of Ministers of Ukraine has approved an important bill that opens the way to launch a joint investment fund in the field of subsoil use. This was reported by a government representative in the Verkhovna Rada Taras Melnychuk. The document was called “On Amendments to the Budget Code of Ukraine on the implementation of the Agreement between the Government of Ukraine and the US Government on the creation of the US-Ukrainian Investment Fund”-these are these”, – WRITE ON: ua.news
The Cabinet of Ministers of Ukraine has approved an important bill that opens the way to launch a joint investment fund in the field of subsoil use.
This was reported by a government representative in the Verkhovna Rada Taras Melnychuk.
The document was called “On Amendments to the Budget Code of Ukraine on the implementation of the US Government and the Government of the US on the creation of the US-Ukrainian Investment Fund”-these changes are the key condition for starting the Fund’s work, as previously emphasized by the First Viceremier, Minister of Economy of Ukraine Yulia Sviridenko.
According to the provisions of the Agreement, which Ukraine and the United States have signed earlier, it is planned to create a special investment fund.
This fund will receive 50% of royalties, licensing payments and other similar revenues from natural resources production projects in Ukraine. Yulia Sviridenko signed the agreement from the Ukrainian side, and the US Finance Minister Scott Bessent.
The US Presidential Advisor, Stephen Miller, emphasized that Washington was interested in the start of the implementation of this Agreement as soon as possible.
However, in order to enter into force the agreement, it is necessary that it is ratified by the Verkhovna Rada. That is why the Cabinet of Ministers on May 2 introduced a corresponding bill to Parliament.
The details of the specific changes offered by the document are not disclosed, but its adoption will be an important step to attract US investments in the restoration and development of the Ukrainian economy, in particular in the field of subsoil.
Recall that the Government submitted an agreement between Ukraine and the United States to the Verkhovna Rada on the establishment of an investment fund of reconstruction, which was signed several days ago. Voting can take place on May 8.
We have already reported that US Presidential Administration Donald Trump is considering a resource agreement as a model for further international agreements, which reflects the President’s strategy on the use of foreign policy weight to ensure assets and investment income abroad.
