EBA supports the transfer of underwater hydrotechnical structures to the ownership of the USPA

EBA supports the legislative initiative on the transfer of underwater hydrotechnical installations to state ownership.

According to the European Business Association , the adoption of Law No. 9573 will create prerequisites for increasing the revenues of the USPA as a result of the transfer of ownership of underwater hydrotechnical facilities to it.

We are talking about canals, operational water areas of piers, etc., the transfer of which to the state will increase the amount of dividends from the USPA.

The large-scale port reform, which was started in 2012 with the adoption of the Law of Ukraine “On Sea Ports of Ukraine”, was never completed. The reform was based on strategic decisions aimed at, among other things, streamlining the mechanisms of attracting private investments related to the development of hydrotechnical facilities of seaports.

However, for more than 10 years, the sub-legal regulatory framework on this issue has not been adopted. Moreover, there are disputed legal relations regarding the rights of private owners to such buildings, in particular their use and disposal. This is due to the technical specifics of underwater hydrotechnical structures and the lack of a transparent mechanism for the transfer of such objects from private to state ownership on a compensatory basis.

The conflict is causing the growth of investors’ mistrust against the background of measures introduced by the government to improve the investment climate and attract private capital to the country.

Now, during the war, the issue has become even more urgent. Ports are critically important enterprises for the functioning of the Ukrainian economy.

Therefore, the EBA believes that the adoption of the relevant Law will be a significant step towards business and investors, and will also bring benefits to the state.