The Verkhovna Rada of Ukraine supported in the second reading and in general, draft law No. 3790 on improving the transparency mechanism in the extractive industries. 344 MPs voted for the document.
The initiative will improve the norms of the Law of Ukraine "On ensuring transparency in the extractive industries" (Law No. 2545-VIII) based on the results of its practical application and the introduction of new requirements for transparency in the extractive industries.
“We welcome the adoption of this important law for the extractive industry, because the activities of enterprises will become more transparent and understandable. This is an important step towards creating attractive conditions for investing in Ukrainian subsoil, ”said Roman Opimakh, head of the State Service for Geology and Subsoil of Ukraine.
The Law "On Amendments to Certain Legislative Acts of Ukraine on Ensuring Transparency in the Extractive Industries" clarifies the disclosure procedure and the amount of information to be made public, defines the range of economic entities operating in the extractive industries, and must report, implement reports, in particular, and on the amount of payments for carbon dioxide emissions. Issues of companies' liability for providing false information have been resolved. It is established to provide information on the average number of employees with gender determination, etc.
Deepening the level of transparency will help prevent corruption in the field of subsoil management and improve the climate in the extractive industry for both internal and external investment, the State Geo-Mineral Resources Agency noted.
Let us remind you that this week the National Security and Defense Council of Ukraine presented a public monitoring system for the use of subsoil, which operates on the basis of the information and analytical system of the Main Situation Center of the country "SOTA". From now on, information about the volume of mining, payment of taxes and holders of special permits has become open to the public.
