Successful investment is based on three main pillars: the first one is appropriate investment-oriented legislation, the second is FDI strategy, and the third is a stable economic, political situation

On October 21, Office of the National Investment Council took part in the discussion “Looking for an investment ‘nanny’: How to take advantage of state innovation”, organized by KPMG.

Speakers at the event were: Olga Magaletska, Head of the Office of the National Investment Council; Sergiy Tsivkach, Executive Director of UkraineInvest; representatives of the Ministry of Economy of Ukraine and KPMG experts.

In February 2021, Volodymyr Zelenskyy, President of Ukraine, signed the Law № 1116-IX “On State Support of Investment Projects with Significant Investments in Ukraine”, commonly known as the “Investment Nanny Law”. Its task is to stimulate significant investment in the Ukrainian economy and increase the overall investment attractiveness of the country.

During the conversation, the speakers discussed the investment climate of Ukraine, business and investment-oriented legislation, including the Law № 1116-IX “On State Support of Investment Projects with Significant Investments in Ukraine”, its advantages and features.

Olga Magaletska said that successful investment is based on three main pillars: the first one is appropriate investment-oriented legislation, the second is FDI strategy for the country, and the third is a stable economic, political situation, and the rule of law.

She noted that to attract even more investment, this summer the Office of the National Investment Council, together with the USAID Competitive Economy of Ukraine Program, EY, UkraineInvest, the Ministry of Economy, and the Ministry of Foreign Affairs, presented the FDI Strategy for Ukraine. The Strategy provides recommendations for the development of promising industries to attract investments and ways to increase the foreign direct investment inflows into Ukraine.

“However, without appropriate investment-oriented legislation in the country, the implementation of any strategy becomes doubtful. I am happy that such legislative initiatives have already been approved in Ukraine. Namely: the Concession Law; the law on liberalization of the land market; the legislation that unblocked large-scale privatization; the law "On state support investment projects with significant investments in Ukraine"; the law on industrial parks and law that will create a special regime for the IT industry - Diia City. Such legislative initiatives have a positive effect on the investment climate and facilitate the inflow of investments into the country”, - the Head of the Office emphasized.

© 2020 Office of the National Investment Council of Ukraine