Shmyhal: Ukraine creating comfortable environment for foreign business

The Cabinet of Ministers of Ukraine makes efforts to create a comfortable environment for foreign investors and businesses to work in Ukraine.

Prime Minister of Ukraine Denys Shmyhal made a corresponding statement at a meeting with heads of foreign diplomatic missions and international organizations accredited in Kyiv on January 28, Ukrinform reports with reference to the Government portal.

The event took place with the participation of President of Ukraine Volodymyr Zelensky, Verkhovna Rada Speaker Ruslan Stefanchuk, Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna, Foreign Minister Dmytro Kuleba, and Defense Minister Oleksii Reznikov.

The Head of Government noted that Ukraine had made significant progress in implementing reforms that promote European and Euro-Atlantic integration. Moreover, Ukraine launched an agricultural land market and unlocked large-scale privatization last year. In particular, revenues from privatization in 2021 amounted to a record of UAH 5.1 billion over the last decade.

According to the Prime Minister, one of the unconditional priority reforms for the state is to create a comfortable environment for foreign investors and businesses in Ukraine.

"We are working hard to create a competitive and attractive investment policy of the country with transparent business conditions and high social standards. We are striving to increase investments in Ukraine, so the protection of property rights and protection of investors' rights is among the principal objectives of the Government," Shmyhal stressed.

He told about the formed package of initiatives that would accelerate Ukraine's economic growth and create opportunities for systemic investment. These include large-scale digitalization, the development of public-private partnerships, support for the IT sector, continued development of long and cheap money programs for small and medium-sized businesses, and other instruments.

Moreover, the Prime Minister stressed the priority of reforming Ukraine's judicial system. He noted that the Parliament of Ukraine had adopted two key laws that provide for completely new mechanisms for the formation of the High Council of Justice and the selection of candidates for the High Qualifications Commission of Judges.

As noted, Shmyhal thanked Ukraine's international partners for providing political, military, and economic support in countering Russian aggression.

Photo credit: Government portal

ol