11:01 19.06.2019

Zelensky invites German business to take part in investment council under Ukraine's presidential administration

2 min read
Zelensky invites German business to take part in investment council under Ukraine's presidential administration

Ukrainian President Volodymyr Zelensky has invited foreign business to participate in the investment council under the Presidential Administration of Ukraine, which will meet twice a year.

"We have a very large package of innovations. This is our State in Smartphone project, which will ensure a reduction in red tape pressure on people. It is the presidential administration that is restoring the investment council. We would like to hold it twice a year. And we invite you, because the more this council has foreign business, the more transparent it will be," Zelensky said at a meeting with German businessmen, the press service of the presidential administration of Ukraine said on Tuesday.

The president of Ukraine noted the need to eliminate the pressure of law enforcement on business. Future plans include ensuring the independence of courts and law enforcement agencies, the creation of "electronic customs" and the fight against smuggling.

"The investment climate is a priority for us. I understand what foreign business is afraid of: our law enforcement agencies, which put pressure on businessmen, our courts, which do not protect it," the head of the Ukrainian state said.

Representatives of the German business said they hoped for the development of cooperation, but this requires an improvement in the investment climate and the adaptation of European standards in Ukraine.

The event was attended by representatives of companies which total portfolio is EUR 220 billion.

"This is more than two GDPs of Ukraine, and these are about 450,000 jobs," President of the German-Ukrainian Chamber of Commerce and Industry Andreas Lear said.

The president of Ukraine and business representatives also discussed the investment attractiveness of Ukraine.

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