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Ukraine creates National Investment Fund

19/ 04/ 2021
  In brief By Regulation No. 295 dated 31 March 2021 (Regulation No. 295), the Cabinet of Ministers of Ukraine created the State Enterprise National Investment Fund of Ukraine (National Investment Fund) and approved its charter. In addition, the Ministry for Development of Economy, Trade and Agriculture of Ukraine was requested to draft a special law that, among other things, is to govern the establishment of joint investment projects with sovereign wealth funds of the United Arab Emirates, the State of Qatar and other states.  In more detail The National Investment Fund was established for the purpose of creating favorable conditions for the implementation of large-scale investment and socially significant projects, the development of international economic cooperation and increasing the competitiveness of Ukraine in the world markets. The activities of the National Investment Fund will include: attraction and concentration of financial resources for the implementation of investment projects financing and implementation of priority investment projects attraction of investments preparation of investment projects management of property within the framework of such projects formation of investment funds, participation in investment funds participation in joint activities participation in socially significant projects The National Investment Fund will be under the management of the Cabinet of Ministers of Ukraine. In the future, the National Investment Fund will be reorganized into a joint stock company. Key takeaways The National Investment Fund is a new and potentially effective tool for the implementation of large-scale investment projects with the participation of Ukrainian, foreign state agencies and sovereign wealth funds. It remains to be seen how its activities will be regulated by the draft law, which is currently being developed. For more information, please contact: Serhiy Chorny Managing Partner Baker McKenzie   Maksym Hlotov Senior Associate Baker McKenzie

In brief

By Regulation No. 295 dated 31 March 2021 (“Regulation No. 295“), the Cabinet of Ministers of Ukraine created the State Enterprise “National Investment Fund of Ukraine” (“National Investment Fund“) and approved its charter. In addition, the Ministry for Development of Economy, Trade and Agriculture of Ukraine was requested to draft a special law that, among other things, is to govern the establishment of joint investment projects with sovereign wealth funds of the United Arab Emirates, the State of Qatar and other states. 

In more detail

The National Investment Fund was established for the purpose of creating favorable conditions for the implementation of large-scale investment and socially significant projects, the development of international economic cooperation and increasing the competitiveness of Ukraine in the world markets.

The activities of the National Investment Fund will include:

  1. attraction and concentration of financial resources for the implementation of investment projects
  2. financing and implementation of priority investment projects
  3. attraction of investments
  4. preparation of investment projects
  5. management of property within the framework of such projects
  6. formation of investment funds, participation in investment funds
  7. participation in joint activities
  8. participation in socially significant projects

The National Investment Fund will be under the management of the Cabinet of Ministers of Ukraine. In the future, the National Investment Fund will be reorganized into a joint stock company.

Key takeaways

The National Investment Fund is a new and potentially effective tool for the implementation of large-scale investment projects with the participation of Ukrainian, foreign state agencies and sovereign wealth funds. It remains to be seen how its activities will be regulated by the draft law, which is currently being developed.

For more information, please contact:

Serhiy Chorny
Managing Partner Baker McKenzie
 
Maksym Hlotov
Senior Associate Baker McKenzie

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