Concept for such zones to be developed by year end

Special free investment economic zones are necessary within each port. This is the key to successful functioning and, most importantly, the development not only of the maritime industry, but many other sectors. Even today in ports up-to-date production facilities are functioning or under construction. And we must create for private investors maximum opportunities and favorable conditions for the realization of such projects, the head of state enterprise "Administration seaports of Ukraine" Yuri Vaskov said, the press service of the Ministry of Infrastructure informs.

Yuri Vaskov noted that almost all the countries of the Black Sea have such an experience. Therefore, Ukraine needs to work hard on this issue in order to make its ports competitive and have a strategy for years to come.

"We have developed a draft law on amendments to certain regulations to bring the legislation on special economic zones in ports in conformity with market conditions. We have developed the concept of Special Economic Zones around and within the sea ports. Vice Prime Minister of Ukraine Oleksandr Vilkul ordered some ministries and agencies by December 10 to work out drafts documents and submit to him for consideration. Then they will be sent to the Government, and, should they be supported by the Cabinet, submitted for consideration to the Parliament. Establishment of such zones will provide an additional inflow of investment and ensure sustainable development of the sea in a stable long term", Yuri Vaskov stressed.