Zelensky: No obstacles in terms of security that would hinder business

As the President’s Office informs, Zelensky held a meeting with representatives of the business community – members of the European Business Association – and spoke about the Government's steps to support Ukraine's economy.

First of all, he informed the audience about the security situation inside the country and near its borders as this issue worries representatives of both domestic and foreign business.

According to the Head of State, there are currently no obstacles in terms of security that would prevent business from working.

"We believe that the build-up of troops near the borders is a psychological pressure exerted by our neighbors. We do not see anything new in this. As for whether there are risks, there are risks and they have been lasting since 2014. The question is the extent of these risks and how we react to them," the President said.

Zelensky stressed that Ukraine is doing everything possible to strengthen its defense capabilities and be able to respond to any scenarios. In particular, planned exercises are being carried out, measures are being taken to improve the materiel of troops.

"Today we have enough forces and weapons to defend our state with dignity without the involvement of anyone but the military," he assured.

At the same time, as the President noted, international partners and allies have also intensified their activities to support Ukraine and stabilize the situation. That is why we have recently seen a large number of visits of world leaders, representatives of the European Union to Ukraine, as well as many talks in various formats to reduce tensions near Ukraine’s borders.

"Many world countries are our friends. I believe that concerted efforts of the European Union and the United States, concerted strong position in support of Ukraine is a very important signal, "Zelensky said.

Therefore, as the Head of State noted, the security issue should not affect the country's activity. The President stressed that the economic situation in Ukraine is stable today as evidenced by hryvnia strengthening.

"The main task of the President and the Government is business, economy, investment climate. Everyone understands what our neighbor is, but it should not affect the economy," Zelensky is convinced.

In order to ensure the stability of the economy and the national currency, the Government of Ukraine has held a series of talks with international partners to obtain financial support. As a result, the EU and a number of countries allocated macro-financial assistance, also being a positive signal for business, the President noted.

Rostyslav Shurma, Deputy Head of the President’s Office, said that the Government plans to start a program to subsidize interest rates for consumers in the near future. There are also plans to stimulate the construction of new housing, thermal modernization of residential buildings, launch of electric vehicle production in Ukraine, which will be implemented through the mechanism of affordable loans.

In addition, there are intentions to attract investment in industries where Ukrainian producers find it difficult to compete on the cost of financing.

According to forecasts, these measures will contribute to the revival of aviation, shipbuilding, wagon construction, and the creation of irrigation equipment production.

Small and medium-sized businesses will continue to receive affordable loans under the 5-7-9% program, Shurma assured.

He also touched upon the development of the country's digital economy and the digitalization of public services. Thus, according to the Deputy Head of the President's Office, the recent launch of one of the best tax and legal regimes for IT business in the world, Dii City, will make Ukraine attractive to IT companies and startups and increase budget revenues.

In turn, Anna Derevyanko, Executive Director of the European Business Association, thanked the authorities for continuing to keep their promises of regular contacts with business representatives. She also expressed gratitude for first-hand information about the situation in the country and the latest talks.

Derevyanko underscored the importance of completing a number of reforms, including judicial reform and the fight against smuggling. At the same time, the EBA Executive Director expressed support for the Government's steps to bring businesses out of the shadows and resolve the issue of e-commerce.

Photo credit: President’s Office

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