Ukraine has fully entered the global race of raising foreign capital to extractive industry. In the environment of rising competition for qualified and long-term international capital, those countries, which give the best conditions for investments from foreign partners, will ultimately win. Transparency and openness of the state authorities, which regulate and manage the subsoil of the country, is one of the key demands of any long-term investor.
Investment capital uncompromisingly requires reforms of such institutions as State Geological Syrvey into independent, self-sufficient authorities, which are equally distanced from all the areas of influence, with establishment of them as an independent regulator in the area of subsoil use. Any steps of the Government, aimed at increasing transparency and openness of the State Geological Survey, will show the true determination to build an efficient dialog with the business, which will improve the country's reputation before potential investors and the international community.
We are confident that it is the investments, which are the sole guarantee of Ukraine's most rapid economic growth. Thus, transparency should be the cornerstone of the country's economy development, especially in the area of subsoil use industries management.
"To attract the investors, especially the foreign ones, the person, who is in charge of the state authority and issues the rights for subsoil use, and all their actions should not cause doubt. The investor, a potential subsoil user, will always keep it in mind and analyze the situation. When we are talking about an important industry and the people, who will manage it, they should be elected via a transparent contest. Transparency should concern not only the companies in the industry, but also the operations of the state authorities" – Association's executive director, Roman Opimakh.
"The Government should realize in full the importance of the State Geological Survey role in the matter of attracting foreign investments in the country's economy. The new Head of the agency will face very important goals, among which we see the transformation of the subsoil use control, harmonization of the legislation in the area of subsoil use with the world's best practices, and, most importantly, attraction of large investments on new and existing fields of subsoil use. The Head of the State Geological Survey should have an ambitious, yet realistic, plan and the necessary rights from the Government to implement it" – Association's Chairman of the Board, Daniel Maydanik.
To remind, today the Head of the State Geological Survey of Ukraine should be elected during a contest.