Transparency of procedures and effective investment screening are crucial for attracting investment. Equally important is ensuring that these procedures do not create unnecessary obstacles for foreign investors, particularly in sectors not directly related to critical infrastructure.
This was stated by the Acting Head of the Legal Affairs and Regulatory Policy Department of UkraineInvest, Alyona Sumina, during the webinar “Investment Screening: How the EU experience can enrich the Ukrainian reality?
The UkraineInvest expert among others shared with participants the specifics of state support mechanisms and foreign investment attraction in Ukraine, which include:
“Undoubtedly, investment screening is an important tool to ensure the protection of national interests. However, the process of attracting foreign investors to certain sectors of the economy should not be overly complicated. Currently, the legislation on industrial parks and state support for significant investment projects does not provide incentives for projects belong to specific sectors. In particular, only investment projects that do not relate to critical infrastructure or other strategical sectors, which are preferred for promotion among foreign investors, can benefit. It is important to create mechanisms that will help effectively attract foreign investment without compromising national interests and security. Our experts will happily join work on such legislative initiatives”, said Alyona Sumina.
She emphasized that investment projects in critical areas require a thorough review due to their potential impact. This not only ensures economic development, but also limits potential negative influence of third parties.
Ukraine is currently working on a new approach to investment screening and discussing it with relevant stakeholders. The event was part of the webinar series ‘On the Road to the EU: What Awaits Ukraine After EU Accession?’, supported by both Ukrainian and international experts.
Follow us on Facebook, Twitter, LinkedIn, or YouTube.
