The Foreign Investment Advisory Council of Ukraine (FIAC) chaired by the President of Ukraine resumed its regular activity in 2005. The FIAC activity is governed by respective Regulations approved by the Presidential Decree.

In early 2005 the EBA and some of its member companies – major foreign investors to Ukraine - were invited to become members of the FIAC. This membership provides the EBA members with a highly efficient vehicle to contribute to elaboration and implementation of the state policy related to foreign investment into the national economy of Ukraine, acceleration of Ukraine’s integration into global economic processes. During the year many EBA member companies committed themselves to elaborating related suggestions on various general and particular pending issues hampering investment processes in Ukraine.
FIAC Expert Committee meetings were held on a weekly basis. In early autumn 2005 special Working Groups within FIAC were established to focus on specific industry related areas vital for Ukraine’s development. These were the following working groups: market reform; fiscal and tax policy; banking and non-banking financial institutions and capital market; comprehensive development of economy; information technologies; agriculture and food industry; image policy of Ukraine. 

The EBA has been co-chairing the FIAC Market Reform Working Group together with the Minister of Economy of Ukraine, Microsoft Ukraine and Western NIS Enterprise Fund (both companies being the EBA members). Separate sub-groups were also set within that Group to deal with issues related to property, land use, elimination of administrative barriers, legal issues, special investment promotion regimes. Also, the EBA is an active member of the FIAC Complex Economy Development Working Group. This Group is co-chaired by the First Deputy Minister of Ukraine, the EBA and the Delegation of German Economy in Ukraine. The Association was primarily involved in two areas: construction and fuel & energy sector.

For two months the EBA was actively involved into elaborating specific suggestions concerning eliminating obstacles hampering business activity in Ukraine. The consolidated suggestions were approved at the Working Group members` meetings with Ukrainian counterparts, thus representing consolidated opinion of both foreign investors and Ukrainian officials. These suggestions served as basis for preparing a special Roadmap that was later submitted to the President of Ukraine and approved at the FIAC Plenary Meeting in December 2005.

The Road  map was approved by the Presidential Decree on Top-Priority Action Plan in the Sphere of Investment Activity dated April 10, 2006, No. 300/2006.