OREANDA-NEWS. November 18, 2010. Radical simplification of licensing and conciliation in construction will significantly increase the investment attractiveness of Ukraine and give impetus to the development of the economy. This the Vice Prime Minister of Ukraine Serhiy Tyhypko said at a meeting on the draft law "On regulation of city planning", which was held under his chairmanship with the participation of representatives of ministries and departments, regional administrations and construction companies in Ukraine.

"Simplification of the Permitting-Approval System in construction is a critical step in reforming the economy. According to the World Bank, Ukraine today has 181 position out of 183 countries in the world ranking in allocation of land and construction permits. The situation must change: we must create one of the best among the neighbouring countries legal framework for construction. It is necessary to minimize the permission procedures. No unnecessary regulations should be, any excessive overregulation of the current construction market exists primarily due to corruption" – the Vice Prime Minister said.

The main advantages of the new bill Sergiн Tigipko called the significant reduction in number of licensing procedures - from 93 to 23, and the time of their passing – from 415 to 60 days. "Development of construction industry will result in recovery of the cement industry, metallurgy, transportation, ensure the creation of new jobs" - the official said.

According to Sergei Tigipko, law adoption will significantly reduce the amount of corruption in the construction, will make the housing cheaper and attract additional investment into the country. Thus, the simplification of licensing procedures of the approval system in construction can dramatically improve the position of Ukraine in international investment ratings. The Vice Prime Minister announced the start of discussions on the draft and called the business to submit their proposals to improve the document.

Previously, under the chairmanship of the Vice Prime Minister of Ukraine Sergiy Tigipko to improve legislation in the construction sector a working group was established, comprising representatives of relevant ministries and agencies, civil associations and unions, as well as USAID experts, who have implemented the reform of building industry in Georgia.