The Ministry of Regional Development and Construction has signed a memorandum of mutual understanding with construction companies, producers of construction materials, and related associations on joint steps aimed at overcoming the crisis on the construction market.

The memorandum was signed at the building of the Ministry of Regional Development and Construction.

Regional Development and Construction Minister Vasyl Kuibida said the main aim of the document is the preservation of the human resources of developers, reduction of the prices of construction materials, and lowering the dependency of the domestic construction market on the conditions on the world market.

According to the memorandum, construction companies commit to continue operation at a level required for preservation of production capacities and personnel and on the basis of acceleration of efforts to attract domestic and foreign investments. The construction companies also commit to minimize the loss of human resources and reduction of wages and social benefits by mastering new types of operations, goods, and services.

The companies also agree to abide by the procedures that the legislation, industry agreements, and collective agreements stipulate for reducing the numbers of employees in cases when reduction of output is irreversible.

The construction companies also commit to take steps aiming at reduction in the prime cost of construction works. They will also continue implementation of investment projects on introduction of energy-efficiency technologies and energy-efficient construction materials.

The Ministry for Regional Development and Construction commits to create legal and normative base on construction of housing with support from the state, to improve and ease license procedures for investing in construction, to cut terms of state expertise of construction projects, to ease procedures of batch production of new kinds of construction products, and to initiate introduction of registration of prices on construction materials.

The ministry will also support measures initiated by construction companies and implement jointly with construction companies concrete measures stipulated in the addenda to the memorandum.

The sides agree to hold regular meetings to monitor observance of the memorandum.

As Ukrainian News earlier reported, the Cabinet of Ministers has arrived at an agreement with developers to limit their profits by 15% for the period of the economic crisis.

An agreement has been also reached to limit the profitability of production of construction materials by 15%.