• Українською
  • NSSMC Chairman Timur Khromayev presented the project of the first all-Ukrainian hub for trade in goods and financial instruments
    National Securities and Stock Market Commission of Ukraine, posted 21 January 2021 12:31

    At a meeting of the Cabinet of Ministers of Ukraine on January 20, 2020, the Chairman of the National Securities and Stock Market Commission Timur Khromayev presented a draft memorandum on the establishment of the UMFC (Ukrainian International Financial Center).

    This initiative was made possible by the adoption of the Law of Ukraine No. 738 on simplifying the attraction of foreign investments and new financial instruments.

    The UIFC will be fully integrated into the Ukrainian legal system, as well as provide equal opportunities and privileges to each local and international participant.

    Why is the project so important for Ukraine and what are its advantages?

    • transparent rules and regulations;
    • prevention of corruption and fraud;
    • increasing the competitiveness of Ukrainian business in the international arena;
    • enhancing market activity - increasing the amount of taxable profit;
    • improving competition - increasing foreign direct investment and GDP growth;
    • investments create jobs;
    • improving living standards of Ukrainians;
    • stable pension system and increase in pension rates;
    • fair prices for energy resources, etc.

    "The development of capital markets and commodity markets will result in accelerating economic growth and improving the living standards of Ukrainians. This is the essence of the reform program," Timur Khromayev stressed.

    The project envisages a new onshore regional center for capital markets and commodity markets, which will include five institutions: the Advisory Board, the Investor Relations Bureau, the Arbitration Center, the Universal Exchange and the Financial-Infrastructure Holding.

    "Uncertainty with the rule of law is the main reason for unwillingness to invest in Ukraine. A separate arbitration center will help to solve this problem, as it will involve professional arbitrators with extensive experience," said the Chairman of the NSSMC.

    The project is scheduled to be launched in the fall of 2023, but work is already underway to draft a legislative framework.