Page 7 - bne IntelliNews Ukraine Country Report May 2017

progress is still way under expectations and insufficient to spark an acceleration of inbound FDI.
The index for monitoring of reforms (iMoRe) has risen slightly to +0.6 points (last measurement was +0.1 point) on a scale of -5.0 to +5.0 . Positive developments were recorded in the spheres of governance and public finance. No progress was observed in reforming the monetary sector, the business environment and the energy sector.
Among the major events that occurred during this round are the Laws on Procurement of Energy Services via ProZorro and the establishment of the medium term expenditure framework (MTEF). The signing of a law on amendments to the Code of Civil Procedure on conviction in absentia was controversial to the experts that we interviewed.
Top-reforms of the release Law on Procurement of Energy services through ProZorro, +2.0 points
Law 1980-VIII of 23.03.2017 provides procurement of services using the electronic system, ProZorro.
An energy service mechanism was introduced by law 327-VIII of 09.04.2015. According to the text, energy service is a set of measures aimed at reducing the consumption of energy resources or utility services. The energy service contract provides for the payment of services to account for the reduction in consumption.
Cooperation with energy service companies (ESCOs) can be an effective mechanism to attract private funds to improve the energy efficiency of buildings and facilities that are state or municipal property. However, there a number of regulatory barriers that hinder the implementation of energy service contracts. The law eliminated these barriers.
In particular, the law (1) abolished the upper limit of the size of annual payments for the contractor of energy service under the energy service
7 RUSSIA Country Report April 2017 www.intellinews.com