President of Ukraine Volodymyr Zelenskyy signed the law of Ukraine on state reserves, which is one of the key ones for the implementation of the state reserve reform, the Ministry of Economy of Ukraine said in a statement published on the government portal on Tuesday.

The law comes into force three months from the date of publication.

First Deputy Prime Minister of Ukraine - Minister of Economy of Ukraine Yulia Svyrydenko noted that the signing of this law by the president "marks the completion of an important stage in the reform of the state reserve, which began with the government's approval of the Strategy for reforming the state material reserve system for the period until 2025."

"We have no less important and thorough work ahead. To implement the provisions of the new law and the reform in general, more than 20 by-laws must be developed. In addition, we need to take all measures to liquidate the State Reserve and create a new central executive body, which will implement state policy in the field of state reserves. To launch an electronic register of state reserves and an institute for reserving the valuables of the state material reserve. And take many other steps to create a virtually new, modern and effective state reserve system," she said.

The Law of Ukraine on state reserves, developed by the Ministry of Economy of Ukraine, was adopted by the Verkhovna Rada on August 9.

The reform distinguishes between the concepts of state material and state mobilization reserves, introduces new principles and directions for the formation of a range of material assets, and clearly outlines the powers of the body implementing state policy in the field of state reserves, the tasks and powers of other responsible government bodies.