During the Committee meeting it was stressed, that the Bill (Reg. No. 2333) was prepared with the purpose of attracting investments to Ukraine regions taking into account their economic and geographic specificity. Particularly, it contains regulations on the procedure of creation and functioning of the territories of priority development, monitoring of investment projects and taxation of the subjects of business activity involved in their realization, etc.
According to the Bill, territory of priority development is a "territory, where for three consecutive years the level of average monthly salary amounts for no more than 85 percent of the average level throughout the Ukraine, unemployment level exceeds 110 percent of the average level throughout the Ukraine and subject to particular features of business activity realization, defined by the Article 19 of this Law and tax legislation of Ukraine, during the realization of the investment projects". It is provided that local government administrations may introduce in concordance with the Cabinet of Ministers of Ukraine additional criteria concerning giving to an individual territory status of the territory of priority development.
It is also proposed to provide that status of the territory of priority development is given by The Verkhovna Rada of Ukraine "by the mean of separate law adoption on the appeal of the Cabinet of Ministers of Ukraine on the results of monitoring of the social and economic conditions of regions and cities of regional significance". On the results of yearly monitoring the Cabinet of Ministers of Ukraine may submit to The Verkhovna Rada of Ukraine a proposal concerning giving (depriving) the status of the territory of priority development.