Business discussed the goals and priorities of the Economic Affairs Parliamentary Committee

08/ 02/ 2023

Today, the European Business Association held a meeting with Dmytro Natalukha, Chairman of the Verkhovna Rada Committee. It took place on the platform of the EBA Regulatory Committee. At the beginning of the meeting, Mr. Dmytro presented the priorities of the Verkhovna Rada Committee, namely: creating business support programs (financial and administrative), facilitating export, import and logistics operations, clarity on employee booking, facilitating business relocation (if necessary) to safer regions, and restoring economic activity in the territories under occupation. The committee also sees business demand for access to international markets, reorientation to domestic markets, but with the possibility of participating in tenders (as the state has become one of the largest customers of goods and services today). For their part, business representatives confirmed the importance of developing various tools to stimulate business and investment activity in the country, such as risk insurance. Currently, there is investor interest in Ukraine, but security issues are also extremely acute, which is not conducive to large investment flows. Sure, there are currently tools developed by DFC and MIGA, but this is not enough to bring a flow of business. Therefore, the European Business Association, together with the Committee and other government officials, is ready to work on the diplomatic front with partners to stimulate the launch of such mechanisms in different countries, as, for example, Germany has done for German businesses that want to invest in Ukraine. When it comes to Ukrainian investments, access to finance is also extremely important, for all sectors. Thus, business understands that it is extremely difficult for the country, but everyone is looking for opportunities, and our goal is to support the stimulation of business activity. That is why the EBA has launched its extraterritorial unit, Global Business for Ukraine, to unite global businesses around Ukraine. Dmytro Natalukha supported the position and proposals of the business. Thus, he informed that the EBRD has also begun to develop legislation on public-private partnerships and expects to finance certain partnerships – in agriculture, textile, food, etc. There is also a trend for Ukrainian fashion, but we need to work very, very hard to convert fashion into money. Moreover, embassies need to be more actively involved in this process. In the near future, we plan to set up an interagency working group under the Ministry of Economy to coordinate the deregulation process, to consider in practice how a particular regulation slows down business operations, which services are most painful for business, and to continue working to remove them. After all, the priority is to create an economic climate that would be attractive to businesses after the war. This issue is also an absolute priority for the EBA, so we agreed to exchange data and work together in this direction. The second part of the meeting focused on specific draft laws and those responsible for their development and further work so that businesses could understand with whom to continue substantive work and to whom to submit proposals. We are grateful to Dmytro Natalusa for the substantive meeting and hope to have regular meetings of this format.

Today, the European Business Association held a meeting with Dmytro Natalukha, Chairman of the Verkhovna Rada Committee. It took place on the platform of the EBA Regulatory Committee.

At the beginning of the meeting, Mr. Dmytro presented the priorities of the Verkhovna Rada Committee, namely: creating business support programs (financial and administrative), facilitating export, import and logistics operations, clarity on employee booking, facilitating business relocation (if necessary) to safer regions, and restoring economic activity in the territories under occupation. The committee also sees business demand for access to international markets, reorientation to domestic markets, but with the possibility of participating in tenders (as the state has become one of the largest customers of goods and services today).

For their part, business representatives confirmed the importance of developing various tools to stimulate business and investment activity in the country, such as risk insurance. Currently, there is investor interest in Ukraine, but security issues are also extremely acute, which is not conducive to large investment flows. Sure, there are currently tools developed by DFC and MIGA, but this is not enough to bring a flow of business. Therefore, the European Business Association, together with the Committee and other government officials, is ready to work on the diplomatic front with partners to stimulate the launch of such mechanisms in different countries, as, for example, Germany has done for German businesses that want to invest in Ukraine. When it comes to Ukrainian investments, access to finance is also extremely important, for all sectors. Thus, business understands that it is extremely difficult for the country, but everyone is looking for opportunities, and our goal is to support the stimulation of business activity. That is why the EBA has launched its extraterritorial unit, Global Business for Ukraine, to unite global businesses around Ukraine.

Dmytro Natalukha supported the position and proposals of the business. Thus, he informed that the EBRD has also begun to develop legislation on public-private partnerships and expects to finance certain partnerships – in agriculture, textile, food, etc. There is also a trend for Ukrainian fashion, but we need to work very, very hard to convert fashion into money. Moreover, embassies need to be more actively involved in this process.

In the near future, we plan to set up an interagency working group under the Ministry of Economy to coordinate the deregulation process, to consider in practice how a particular regulation slows down business operations, which services are most painful for business, and to continue working to remove them. After all, the priority is to create an economic climate that would be attractive to businesses after the war. This issue is also an absolute priority for the EBA, so we agreed to exchange data and work together in this direction.

The second part of the meeting focused on specific draft laws and those responsible for their development and further work so that businesses could understand with whom to continue substantive work and to whom to submit proposals.

We are grateful to Dmytro Natalusa for the substantive meeting and hope to have regular meetings of this format.