Ukraine’s competitiveness, investment attractiveness, deregulation, and key challenges for business during the war were discussed during the expert meeting “Business in Focus of Economic Recovery: Results of Expert Consultations and Reform Priorities.”
The event brought together Members of Parliament, government representatives, business associations, economists, analysts, and entrepreneurs for a joint discussion on what solutions are needed to improve the business climate, attract investment, and form a new economic model of Ukraine.
The event took place within the framework of the project “Support for Business Leadership in Strengthening Economic Resilience and the Reconstruction of Ukraine (BLR II)” which SUP implements in partnership with CASE Ukraine with the support of the Center for International Private Enterprise (CIPE).
Ukraine’s Competitiveness: Focus on Innovation and Entrepreneurship
As part of the event, the results of a study on Ukraine’s competitiveness were presented. Senior economist at CASE Ukraine Volodymyr Dubrovskiy emphasized that Ukraine has a chance to strengthen its position in the world through the development of innovation, technology, and the ability of business to adapt to crisis conditions.
According to him, Ukrainian businesses have learned to operate in constant turbulence, which is now becoming a competitive advantage in a world where economies also face instability and new challenges.
The expert stressed that state policy should shift from supporting individual sectors to creating conditions for the development of the entire business environment. Key directions include preserving the simplified taxation system, developing innovation ecosystems, reducing the tax burden on labor, and improving the quality of state institutions.
He also highlighted the need to create conditions for retaining talent in Ukraine, as human capital is the foundation of the country’s competitiveness.
European Integration and Financial “Visa-Free” Regime: What Businesses Should Expect
One of the central topics of the discussion was the legislative changes required to fulfill Ukraine’s commitments to the EU, the IMF, and the World Bank.
Deputy Chair of the Verkhovna Rada Committee on Tax, Customs, and Financial Policy Olha Vasylevska-Smahliuk noted that the Parliament must consider a number of important draft laws, including those on automated exchange of financial information, regulation of digital platforms, transparency of financial operations, and Ukraine’s integration into the SEPA system.
According to her, joining SEPA will allow Ukrainian businesses to significantly reduce international payment costs, speed up transfers, and simplify financial operations with European partners.
“The financial visa-free regime is a real opportunity for Ukrainian business to integrate faster into the European market,” the MP emphasized.
At the same time, participants of the discussion noted that some draft laws raise concerns in the business community due to potential increased control and additional regulatory burden.
Virtual Assets and the Crypto Market: Why Regulation Is Delayed
A separate part of the discussion focused on the regulation of the virtual assets market. Participants emphasized that Ukraine is among the global leaders in cryptocurrency usage, but a full legal framework for the market has still not been established.
Ukrainian MP Yaroslav Zhelezniak reported that the draft law on virtual assets is at the final stage of refinement. According to him, the key issue was the definition of the market regulator and the division of powers between the National Bank and the Securities and Stock Market Commission.
In the new version of the document, these functions are expected to be clearly defined and all necessary changes consolidated into a single draft law.
Investments During the War: Where Ukraine Has the Greatest Potential
During the presentation of the study on Ukraine’s investment attractiveness, economist Pavlo Kukhta and representatives of DataDriven outlined sectors that can already become drivers of economic growth.
Among the most promising areas, experts named defense tech, energy, agro-processing, critical minerals, and manufacturing.
Special attention was given to Ukraine’s defense tech sector, which demonstrates rapid growth due to fast development cycles, a high level of engineering expertise, and the ability to test solutions in real combat conditions.
Experts also highlighted Ukraine’s potential in critical minerals. According to them, the country has significant reserves of titanium, lithium, graphite, uranium, and other resources important for the global energy transition and defense industry.
At the same time, the main barriers to attracting new capital remain war risks, a lack of prepared investment projects, and regulatory constraints.
TOP Business Problems: Shadow Economy, Inspections, and Labor Shortages
A separate part of the discussion focused on analyzing the main business problems based on studies by the EBRD, BRDO, Advanter Group, and the Institute for Economic Research.
Among the key challenges, businesses name labor shortages due to mobilization and migration, declining demand, the shadow economy, excessive pressure from regulatory authorities, complex tax administration, and blocking of tax invoices.
Economist Oleh Hetman emphasized that a significant part of these problems can be solved through changes in tax administration and regulatory reform.
Experts proposed revising the SMKOR system, limiting unjustified blocking of tax invoices, canceling disproportionate fines for technical mistakes, and creating clear rules for combating shadow schemes without excessive pressure on legal businesses.
A Common Agenda for Economic Recovery
At the end of the meeting, participants emphasized the need for continuous dialogue between business, parliament, and the government to form effective economic policy.
Representatives of the business community and expert environment agreed to continue working on joint proposals to improve the business climate, deregulation, investment attraction, and strengthening Ukraine’s economic resilience.
Participants stressed that even during wartime, Ukraine has the potential not only for recovery but also for forming a new economic model based on innovation, technology, and openness to global capital.