Keynote Speech — Volodymyr Groysman. 14th Annual Ukraine Investor Conference

Dragon Capital held its 14th Annual Ukraine Investor Conference on March 1-2 in Kyiv. As in previous years, the event gathered close to 300 guests, with top speakers addressing the audience of international and local investors including Prime Minister Volodymyr Groysman, other government members, top management of leading Ukrainian companies, representatives of international financial institutions and western diplomats. Over 25 Ukrainian and foreign TV channels, news wires and other print and online media covered the event.
Below please find highlights from the keynote speech delivered by Volodymyr Groysman, Prime Minister of Ukraine.
The Cabinet has successfully launched four out of five reforms announced at last year’s Dragon Capital conference with the passage of legislation on pension, healthcare and education reforms and a new law on privatization. The fifth target, land reform, is more complicated due to approaching elections, but the government continues to draft a bill on farmland market circulation

• In 2018, the Cabinet together with parliament aims to pass 35 laws (2 already approved) underpinning the government’s objective to accelerate GDP growth to 5-7% (vs. 3% expected in 2018). These bills deal with deregulation and other measures to improve the investment climate, facilitation of enterprise access to financing, and incentives for business innovations.

• Following the formation of an independent Supervisory Board at Naftogaz Ukrainy, the government will continue with corporate governance reform at state-owned enterprises, the next step being the selection of independent directors for Ukrainian Railway.

• Despite the approaching election cycle, the government sees 2018 as a year of “real” privatization.

• Creation of the anti-corruption court (ACC), one of IMF requirements, is crucial to curbing embezzlement in the public sector as the existing weak judiciary continues to pose an obstacle to Ukraine’s new anti-corruption bodies (during his speech, the PM read out a text message from his phone that parliament had just approved the ACC bill in the first reading).

• The government had productive talks with a recent IMF technical mission and is now focused on implementing the Fund’s outstanding requirements (including passage of the ACC bill) to continue the dialog.

• Protecting business from pressure from law enforcement bodies, despite recent legislative progress in this area, remains among the government’s top priorities. The Cabinet is committed to advancing its vision of a new Financial Investigation Service and putting in place regulations to deprive National Police, the State Security Service, and the Prosecutor General’s Office of authority to have any contact with business.