The Anti-monopoly Committee of Ukraine is suspected of blocking investors from entering Ukraine

The Anti-monopoly Committee of Ukraine (the AMKU) prevents investors from using their rights to the assets in Ukraine. It is informed by the foreign investors. As it is reports, one of the biggest Chinese investors, the state corporation of China CNBM almost a year is not able to apply their legal rights to the assets in Ukraine in the field of sun energy because of the AMKU. The CNBM is a biggest investor in this field, company operated in the market of Ukraine for more than 5 years, and since 2013 started negotiations on the direct Chinese investments into this industry following the request of the Chairman of the People’s Republic of China. ‘Already since the middle of 2013 we are economic owners of the projects in the field of sun energy of Ukraine. Since that time we bear all the risks and profits related to the projects. However, due to some reasons we still are not able to finalize our rights. On March jointly with the Adviser of the Office on trade and economic issues at the Embassy of China in Ukraine we have  met the representatives of the AMKU for discussing questions of finalizing necessary formalities on applying rights on assets in Ukraine. It was just two weeks before the deadline for taking decision by the Committee on this project. We offered the Committee to answer all its questions. But no questions followed. Representatives of the AKMU reassured us that the resolution on this project will be positive. As results of this meeting, representatives of Chinese delegation made a report to the government of China’, - told the Chinese delegation representative.

As informed by the investors, the following actions of the AKMU are contrary to the agreements and information of the CNBM and the representative of the embassy of the People’s Republic of China (hereafter, the PRC). The AMKU using a formal ground has extended considering the issue and requested other state institutions, including the General Prosecutor Office. Investments made by the CNBM in Ukraine are the state investments of China that are controlled by the government of the PRC. Chinese resources have been spent and the mechanism of their protection on the intergovernmental level will be working regardless whether the investment will be finalized. 

Experts notice that the AMKU is the only institution that has not been restructured as its staff was not changed since the power of Viktor Yanukovich. Its actions towards to the Chinese state corporation could provoke intergovernmental conflict, as it is supposed by the market participants. This is not the first sign of ineffective work of the AMKU. Ministry of economic development and trade Aivaras Abromavicius also reflected on the problems with investment climate and the influence of the AMKU on it. As of his statements, investment climate in Ukraine in the last years has been poor: many problems in the Anti-monopoly Committee, customs and the tax authorities. ‘Most of businessmen, both local and foreign, complain over the Anti-monopoly Committee of Ukraine as first reason causing difficulties of running business in Ukraine. Jointly with the Ministry of Economics we drafted in the memorandum with the International Monetary Fund that we promise to replace all the staff of the Anti-monopoly Committee and appoint the new director in the first half year’, - marked the Minister.

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