Law No. 12384 introduces electronic auctions and anti-monopoly restrictions in the fisheries sector
The Verkhovna Rada has adopted Law No. 12384, aimed at stimulating the development of fisheries and aquaculture. The document provides for the introduction of transparent investment models and electronic auctions for access to water resources. This is reported by the portal PromPolitInform, citing information from the Verkhovna Rada.
The law adopted by the parliament establishes new rules for attracting capital to the fish farming sector. The main focus is on creating conditions for long-term investment, which will allow businesses to carry out strategic planning in aquaculture, despite the significant payback periods for such projects.
Electronic auctions and transparency
From now on, access to the use of water bodies will be carried out exclusively through a system of open electronic auctions. This approach is intended to minimize corruption risks and ensure equal conditions for all business entities seeking to obtain rights to lease or use plots of water bodies.
Anti-monopoly restrictions
To prevent market monopolization, the document includes special safeguards that limit the share of a water body’s area that one investor can control. This should help maintain a competitive environment in the fisheries industry.
Ecology and social impact
The lawmakers have provided regulations regarding free public access to general-use water bodies. Control over the state of the environment is also being strengthened to minimize negative impact on the ecosystem during business activities.
Food security and import substitution
The authors of the initiative expect that the implementation of the law will increase the volume of products manufactured in Ukraine. This will contribute to reducing import dependence, strengthening the state’s food security, and reviving the economy in rural and coastal communities through the creation of additional jobs.
Illustrative photo: Press Service of the Verkhovna Rada of Ukraine / CC BY 4.0
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