Ukraine works on the development of the ambitious economic strategy for Donbas. The road map of strategy might be presented to the Cabinet of Ministers in September as Atlantic Council reported citing Vice Prime Minister of Ukraine – Minister for the Reintegration of the Temporarily Occupied Territories Oleksiy Reznikov.
According to Reznikov, after that, about six months will be needed for the preparation of the necessary calculations.
“Ukraine currently develops an ambitious new economic strategy for the east of the country. The main attention is being given to the development of parts of Donetsk and Luhansk regions that are currently controlled by Ukraine. Possibly, it is better to describe it as the Ukrainian approach to the notion of the special status of the regions to transform the investment climate there and implement the new economic model at the regional level,” Reznikov stated.
According to him, the mentioned process should start to gain momentum as soon as possible in the areas of Donbas controlled by the Ukrainian authorities. After that, it can spread to the occupied territories of Luhansk and Donetsk areas after their release.
Reznikov added that he held dozens of talks with foreign diplomats, representatives of the international business and Ukrainian investors who are mostly concerned by the state of the Ukrainian justice system than proximity to the front line.
“Our goal is to create a special investment regime in part of Donbas controlled by Ukraine. We consider the spread of the rules of the international commercial arbitration to the region as an inherent part of these plans. Moreover, the Ukrainian side should assume at least a part of the insurance burden of political and military risks that are hard to predict for the investors. To make this approach stable, we provide the trust fund for encouragement and creation of the investments and we will not rely on the donors,” Reznikov added.
Ukraine’s Vice Prime Minister believes that in terms of the crisis caused by the coronavirus spread, Ukraine is perfect for the diversification of the production outside China and the presence of the high-quality production capacity closer to the EU countries. Besides, Donbas has a lot of specific characteristics necessary for the leading role in this process.
Reznikov also mentioned that the Russian aggression destroyed Donbas of the pre-war era and it is senseless to talk about just restoration of the region. Instead of this, it is necessary to focus on the creation of the new economy. According to him, at the seventh year of the war, the Russian interpretation of the special status for Donbas is unacceptable.
Earlier, head of its delegation in Minsk talks group Leonid Kravchuk stated that Russia is trying to prove that the demand of a special status of governance in Donbas is stipulated in the text of Minsk agreements. Actually, it's not true.