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Denys Shmyhal: Ukraine is building a free economic space for investors to feel comfortable

31 Jan, 2023
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Denys Shmyhal: Ukraine is building a free economic space for investors to feel comfortable

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The Government has set up an Interagency Working Group on Accelerated Deregulation. It has already presented its first recommendations - to cancel 47 licenses and permits under the jurisdiction of the Ministry of Economy. Prime Minister Denys Shmyhal announced during a Government meeting on January 31.

"These are the rules governing the export and import of goods, rules in the field of investment activity, intellectual property, and technical regulation," the PM explained.

At the meeting, the Cabinet of Ministers also adopted a decree amending the action plan for deregulation and improvement of the business climate. According to the Prime Minister, more than 30 points are being added to the list of simplifications.

"This concerns administrative procedures, transport, logistics and IT, healthcare and social services, the oil and gas sector and the environment, as well as the agricultural sector. Governmental decisions to implement this plan will be adopted throughout 2023," said Denys Shmyhal.

In addition, the Government approved amendments to the draft law on environmental impact assessment. According to the Prime Minister, these changes are intended to optimize the procedure, in particular, to fully digitize it and significantly reduce the timeframe for its passage.

"We are removing discretionary powers in decision-making, i.e. we are removing opportunities for abuse by officials. We are confident that businesses will positively evaluate these changes. We are building a free economic space for investors to feel comfortable. After all, the private sector is the backbone of our economy, and it will become a key element of Ukraine's post-war reconstruction," emphasized Denys Shmyhal.


The Odessa Journal

The Odessa Journal

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