This article describes initiatives that are taken by the #Ministry of Economic Development and Trade of Ukraine in order to boost #investing in Ukraine.
Visit our website if you are interested in #doing business in Ukraine or looking for new #investment opportunities.
Mr. Aivaras Abromavičius, the Minister of Economic Development and Trade of Ukraine, announced that in 2015 Ukraine, despite continuing military aggression in Eastern Ukraine, managed to attract around USD 3 billion of investment. As was previously reported, the overall volume of direct foreign investment in Ukraine (share capital of non-residents) as of 1 October 2015 amounted to nearly USD 44 billion. The Minister also stated that in 2016 it is expected that the foreign direct investment will increase up to USD 5 billion.
One of the means through which such increase in investment could be achieved is deregulation and subsequent improvement of doing business in Ukraine. With the aim to pursue such policy, the Ministry of Economic Development and Trade of Ukraine has developed a roadmap for facilitation of doing business in Ukraine, which was recently approved and adopted by the Cabinet of Ministers of Ukraine. As expected, following implementation of measures included in the programme, in 2017 Ukraine will enter into top-50 and in 2018 into top-20 countries of the World Bank Doing Business ranking.
The Cabinet of Ministers of Ukraine specified as its main priorities for 2016, inter alia, creation of online service for registration of legal entities within 24 hours, provision of real-time access to the State register of encumbrances over movable property, facilitation and acceleration of court cases in relation to monetary claims, etc. In addition, with the aim of improvement of protection of rights and interest of investors, it is proposed to oblige the potential purchasers of 50% of shares/participatory interests in the joint stock companies/limited liability companies to make an offer to all shareholders/participants.
We note that in accordance to the annual World Bank Doing Business ranking, in 2015 Ukraine managed to improve its positions by 13 spots and climbed to the 83rd place.