Draft Law of Ukraine

"On Amendment of Part Two of Article 3 of the Law of Ukraine "On Concessions"

The Law "On Concessions" outlines a list of objects a concession can be applied to (in this Law concept 'concession' is understood as management on contractual basis by state and communal property). This draft suggests adding this list with objects utilized in the sphere of construction and operation of the tourist objects.

It should be noted that now state bodies fail to operate at full capacity objects of tourist industry. This draft law, if adopted, would enable their transfer under concession to legal entities and natural persons being entrepreneurs for more efficient management and mutual benefit.

The suggested expanded list of concession objects may help to attract investments to Ukraine, resolve finance problems of some state- and communal-owned enterprises of tourist industry, and facilitate entire development of tourism in this country.