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  • European integration and economic freedom: Denys Shmyhal told European business about key priorities
    Communications Department of the Secretariat of the CMU, posted 10 February 2021 15:39

    European and Euro-Atlantic integration, the rule of law and economic freedom are among the key priorities for business development in Ukraine in the coming years.

    This was stated by Prime Minister Denys Shmyhal during an online meeting with the Director General of the Confederation of European Business Marcus Beyrer and representatives of European companies during a working visit to Brussels, the Kingdom of Belgium, on February 10.

    Denys Shmyhal noted that, according to investment companies, Ukraine's economy returned to pre-crisis levels at the end of last year.

    "The data of the European Business Association also indicate that Ukraine has been through the economic crisis with minimum losses as compared to European countries. We lost only 4.5% of GDP. This year, according to forecasts, the growth of Ukraine's economy will be over 4.6%," the Prime Minister stressed.

    The Prime Minister accentuated that the main strategy of Ukraine is to attract business investment. To this end, the Government, together with MPs of Ukraine, experts and analysts, is working to develop a National Economic Strategy until 2030.

    "To date, we have determined key priorities for the Strategy. Among those are European and Euro-Atlantic integration, rule of law, protection of private property, gender equality and absolute intolerance of corruption. Economic freedom - fair competition, equal conditions for businesses and free movement of capital. Institutional capacity," said Denys Shmyhal.

    The Prime Minister also voiced to representatives of European companies 5 key directions included in the NES-2030, which are critical for both business and investors.

    "The first is the rule of law. We engage in active work with the IMF, European structures to implement updated legislation in the judiciary sector. Such laws have been drafted and will be adopted by the Parliament of Ukraine this year. The second is investment attractiveness. We are approving amendments to the law on investment parks, we have endorsed legal framework introducing investor support at the state level," told the Head of Government.

    Denys Shmyhal called the green course the third key area. According to him, renewable energy sources, modern technologies in production, energy efficiency and energy saving are the directions that are to be cross-cutting issues in the economic development strategy. The fourth vector is the development of small and medium-sized enterprises, the fifth is digitalization.

    "The Diia project has been effective in this area. More than 60 public services are already provided online, first digital passport in the world and digital driver's licenses have been introduced. We also have the first experience of urgent payment of pecuniary aid to people and enterprises within three weeks. The tool has sparked the interest of many international organizations, who are asking us to share this experience," noted the Prime Minister.

    Denys Shmyhal accentuated that the strategy of economic development of Ukraine will also focus on expanding domestic demand for industrial products, development of the agricultural sector, the introduction of public-private partnership, processing of agricultural raw materials.

    European integration and economic freedom: Denys Shmyhal told European business about key priorities European integration and economic freedom: Denys Shmyhal told European business about key priorities