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  • Denys Shmyhal: Transparent market rules and removal of regulatory barriers are critical to leverage investments to Ukraine
    Communications Department of the Secretariat of the CMU, posted 16 November 2020 14:47

    The most promising areas for investment in Ukraine are the agro-industrial complex, energy, infrastructure, as well as those areas where Ukraine has a competitive advantage, in particular, IT. Prime Minister of Ukraine Denys Shmyhal emphasized his statement at the 17th Vienna Economic Forum – Vienna Future Dialogue 2020.

    According to the Prime Minister, the Vienna Economic Forum remains a supra-regional platform that allows for intensified dialogue among countries and faster integration into the single European economic space.

    Denys Shmyhal stressed that the strategic partnership with the European Union remains the basis of Ukraine's security and development.

    "This is especially relevant in a pandemic when Ukraine needs new strong incentives for economic recovery. Such incentives should be the gradual expansion of access to the EU internal market in areas where Ukraine has already made significant progress, as well as the removal of other restrictions that exist for our trade," said the Prime Minister.

    The Head of Ukrainian Government reminded that during the 22nd Ukraine-EU Summit the Ukrainian delegation presented and conveyed to the EU its vision of updating the Association Agreement and called for consultations on upgrading certain parameters of the Agreement, especially in the areas of trade and sectoral cooperation.

    "We also expect the signing of the Common Aviation Area Agreement between Ukraine and the EU, the beginning of the integration of gas and electricity markets as well as integration into the digital market of the European Union," emphasized Denys Shmyhal.

    According to the Prime Minister, despite the pandemic, Ukraine is determined to pursue a policy of systemic reforms, which should be the basis for overcoming the crisis and further economic growth.

    "Liberalization of the agricultural land market, medical reform, development of e-government and digitalization of public services, ensuring transparent and fair business rules - these are some of the main areas of reforms we are working on today," said Denys Shmyhal.

    During his speech, the Head of Government noted the investment potential of Ukraine and stressed that our country is ranked among the world’s best for IT services outsourcing. According to him, the IT industry is growing by 20-25% annually.

    "Our country is one of the world's leading producers and exporters of agricultural products with huge and inexhaustible potential. I believe that the countries of Central and Eastern Europe can be a source of investment, know-how and best practices in Ukraine," said the Prime Minister.

    According to Denys Shmyhal, creating favorable conditions for the development and conduct of business in Ukraine is a constant priority of the Government. "Clear and transparent rules of the market, fair and predictable behavior of regulators, removal of regulatory barriers are extremely important for the full development of entrepreneurship in Ukraine and leveraging investment," summed up the Prime Minister.

    Denys Shmyhal: Transparent market rules and removal of regulatory barriers are critical to leverage investments to Ukraine Denys Shmyhal: Transparent market rules and removal of regulatory barriers are critical to leverage investments to Ukraine Denys Shmyhal: Transparent market rules and removal of regulatory barriers are critical to leverage investments to Ukraine