Economy ministry, OECD begin to analyze investment incentives

The Ukrainian Economy Ministry and the Organisation for Economic Co-operation and Development (OECD) have started joint efforts to analyze investment incentives and harmonize the investment-related regulatory environment.

The relevant statement was made by the Ukrainian Economy Ministry, following a meeting between Ukrainian Economy Deputy Minister Volodymyr Kuzio and the OECD team, an Ukrinform correspondent reports.

“We highly value cooperation with the OECD committees and working groups, namely the Investment Committee, the export credit department, as well as the bodies responsible for corporate governance and public procurement. We are sincerely grateful for the work that has been started to develop the potential related to effective investment incentive policy development and regulatory environment improvement, and hope for further fruitful cooperation,” Kuzio noted.

The Ukrainian official stressed the importance of involving and establishing cooperation with all stakeholders in conducting the research of the existing government incentives and benefits, as well as developing the new incentive policies, creating a proper favorable environment to receive donor funds, and attracting foreign and private investment in Ukraine’s reconstruction and recovery.

The parties agreed to focus on the two main areas in the development of the investment potential. Firstly, the development and implementation of an investment incentive policy in accordance with the OECD’s best practices and recommendations. Secondly, the promotion of investment, including by improving and optimizing the investment regulatory environment at the national and regional levels.

The Ukrainian Economy Ministry will act as a coordinator of the above cooperation and implementation of corresponding actions as part of the project.