On September 7, the Ministry of Regional Development held a meeting of the Interdepartmental Working Group on assisting affected investors in completing unfinished housing construction projects
The co-chairs of the group are the First Deputy Minister of Community and Territorial Development of Ukraine Vasyl Lozynskyi and the Deputy Minister of Internal Affairs Anton Gerashchenko.
The Interdepartmental Group was established by Resolution of the Cabinet of Ministers of Ukraine No. 714 of August 12, 2020 and is a temporary consultative and advisory body of the Cabinet of Ministers of Ukraine.
The group includes representatives of the Government, banking institutions, investors of housing construction projects, local executive bodies and local self-government bodies, and people’s deputies.
The main tasks of the Interdepartmental Working Group are:
1) coordination of actions of central and local executive bodies on issues of assistance to affected investors;
2) determination of a mechanism for resolving problematic issues arising in the field of protecting the interests of investors;
3) improvement of the regulatory framework in the field of protecting the interests of investors of unfinished housing construction projects.
During the meeting held on September 7, the following was discussed:
“It is necessary to develop an effective mechanism so that we can actually resolve the issues of affected investors and prevent such situations from occurring in the future. Each situation requires an individual approach. The Ministry of Regional Development team has an understanding of the problem and a certain range of achievements, we are ready to work as much as possible within this group, in particular in terms of preparing the regulatory framework,” said First Deputy Minister of Community and Territorial Development Vasyl Lozynskyi.
During the meeting, the participants discussed the problematic issues of completing unfinished housing construction projects, ways to solve them, as well as assistance to affected investors.
“We have a clear task to develop draft legislative acts and regulatory documents in 2 months that would make fraud with investors’ money impossible in the future, as well as to form a roadmap for those problematic projects that already exist in Ukraine,” said Anton Gerashchenko.
To ensure the effective work of the Working Group, during the meeting, subgroups were created to develop a mechanism for completing problematic unfinished housing construction projects and strengthen financial control over the use of funds, investors of individuals and legal entities involved in the construction of facilities, headed by the Chairman of the National Securities and Stock Market Commission of Ukraine, as well as to prepare amendments to the legislation in the field of urban planning activities to assist affected investors in completing unfinished housing construction projects, headed by the First Deputy Minister of Community and Territorial Development Vasyl Lozynsky.
Meetings of the Interdepartmental Working Group will be held on a permanent basis. Both representatives of government bodies and construction investors are involved in the work of the subgroups.
