Ukraine Government Lifts Restrictions on Import Payments to Boost Business

by Roman Cheplyk
Wednesday, May 8, 2024
1 MIN
Ukraine Government Lifts Restrictions on Import Payments to Boost Business

On May 7, the Ukrainian Cabinet of Ministers approved a significant decision aimed at improving the business environment by canceling Resolution No. 153, which previously imposed restrictions on payments for the import of goods and services

Prime Minister Denys Shmyhal announced the change, emphasizing its importance for the business community.

"This decision is crucial for business," Shmyhal stated. "Such liberalization will open up new opportunities for Ukrainian entrepreneurs to access new markets, enhance Ukrainian exports, and initiate new projects and jobs within the country."

The prime minister highlighted that this move is part of a broader government strategy to deregulate and simplify the bureaucratic processes that businesses currently navigate. He noted that the government has reviewed over a thousand permits, licenses, and certificates affecting business-state interactions.

"Some of these will be completely eliminated, others will be simplified, and still others will be transitioned to digital formats. Our commitment to streamlining these processes is ongoing," Shmyhal added. This policy change is expected to significantly contribute to the enhancement of the entrepreneurial climate and economic development in Ukraine.

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