European integration, the state programme of investor war risk insurance, compensation for damage to citizens and SMEs caused by Russian aggression, expansion of the E-restoration programme, development of high-tech industries and their exports, support for regions with high war risks were the focus of the conference.
On 13 December, a regular conference ‘Restoring the Country: Economic Results 2024, Priorities 2025’ was held with the participation of Dmytro Natalukha, Chairman of the Verkhovna Rada Committee on Economic Policy, Olena Shulyak, Chairman of the Servant of the People party, representatives of business associations and the expert community. The meeting was organised by the Ukrainian Business Council in partnership with Help – Hilfe zur Selbsthilfe.
Dmytro Natalukha, Chairman of the Committee on Economic Development, outlined the priority areas of the Committee’s work in 2025, including, in particular, the development of tax, financial and administrative incentives for regions affected by the war, the need to expand the Buy Ukrainian programme to cover not only civilian but also military products, and the promotion of European integration, etc.
An important achievement of the year was the introduction of the declarative principle of obtaining permits and licences for business. The Export Credit Agency also started insuring projects against military risks, which allowed it to support export operations worth UAH 6.59 billion.
Olena Shulyak drew attention to the need to improve access to finance.
“One of the biggest challenges for all Ukrainian businesses is access to finance. We need to get together with banks and talk honestly about the problems, the need to revise regulatory documents and the strategy of earning money on government bonds in general,” Shulyak said.
Olena Shulyak, who thanked the BOC for the opportunity for a regulatory constructive dialogue with business and wished everyone that in 2025 the authorities would make decisions faster with maximum involvement of business in their development. The Head of the Servant of the People party also noted that the achievement of 2024 was the formation of the Economic Patriotism strategy, and the main task in 2025, in her opinion, is to create all conditions for Ukrainian business not only to stay in the country, but also to develop and scale in the regions. Among the priority areas to be worked on in 2025, Olena Shulyak noted the updating of regional development strategies, with the obligatory involvement of the local business community in their formation, business access to credit, project financing, preservation of human capital, and support for business in its integration into the European export market.
The Ukraine Facility programme is scheduled to be launched in early 2025.
“Applications for financing private projects will be open from January. These will be projects financed by European money – about €10 billion through banks of international organisations. This money will be spent mostly on guarantees for Ukrainian banks that lend to Ukrainian businesses during the war,” said Dmytro Natalukha.
Myroslav Laba, expert on tax and regulatory policy at the Economic Expert Platform, presented the results of the analysis of international experience on the example of three countries: Israel – in the field of technology development and workforce training; Brazil – in terms of research and taxation for production equipment; and Poland – in creating investment parks and supporting access to foreign markets.
From left to right: Myroslav Laba, Vasyl Voskoboynyk
According to CES experts, the Ministry of Economy has already implemented about 80% of the recommendations to support the processing industry. At the same time, a study by the Better Regulation Delivery Office and a report by the Accounting Chamber revealed serious problems for businesses in the tax area. According to the survey, 65% of businesses face blocking of tax invoices, delays in court proceedings, and significant pressure from inspection authorities. The blocking of tax invoices has become the biggest problem for businesses in their interactions with government agencies, and this problem significantly hinders the recovery and development of SMEs.
The experts proposed a balanced solution to the system of blocking tax invoices, changing the system from a punitive to an analytical one, and limiting the blocking period to 30 days. Such a modified system will effectively counteract tax evasion schemes, while reducing the burden on bona fide businesses and relieving the judicial system.
Other recommendations include establishing clear KPIs for tax authorities, ensuring the stability of financial programmes, providing war risk insurance for investors, and government assistance to Ukrainian producers to enter international markets. A special emphasis is placed on the need to support scientific and technological development and the introduction of new technological processes into production.
A separate block of discussion was dedicated to innovative demining technologies. Andriy Savarets, coordinator of the Ukrainian Association for Humanitarian Demining and Recovery, presented an innovative approach to demining the territory of Ukraine using domestic technologies.
Experts estimate that about 142,000 square kilometres of Ukraine’s territory have been damaged by explosive hazards, including combat zones, occupied and de-occupied territories. At least 6 million hectares of agricultural land need to be demined. With a traditional manual approach, this would require at least $37 billion and 10 years of time.
The EBA has proposed a comprehensive solution that uses unmanned aerial vehicles, special sensors and an IT platform. This system allows for the creation of detailed maps of contaminated areas and significantly reduces the risks for sappers. An important advantage of the proposed solution is the use of predominantly Ukrainian equipment, which is much cheaper than foreign analogues.
Vasyl Voskoboinyk, President of the All-Ukrainian Association of International Employment Companies, highlighted the problem of a shortage of qualified personnel in Ukraine and noted that it is impossible to solve this problem without attracting migrants from other countries.
Currently, with the support of the International Renaissance Foundation and with the participation of a group of experts chaired by the Director of the Institute of Demography and Quality of Life Problems of the National Academy of Sciences, Professor E.M. Libanova, the project ‘Migration Policy of Ukraine: Ways to Improve’ is being implemented. Its goal is to improve Ukraine’s migration policy by conducting comprehensive research and analysis on the current state of implementation of Ukraine’s migration policy, identifying the country’s future labour needs, and ways of its further development. The project will assess the state of implementation of the current migration policy of Ukraine and substantiate the main directions for improving the State Migration Policy Strategy for the period up to 2035.
Anatoliy Dolynnyi, President of the Ukrainian Federation of Security Industry, noted the importance of solving the problem of creating housing for internally displaced persons in those regions where there is work for them. Ukrainian business needs skilled workers, and IDPs are a significant human resource for business.
According to the study, vacancies that require housing are filled five times faster.
The panelists proposed mechanisms for cooperation between business and local authorities to create housing for IDPs, including through the reconstruction of existing buildings and the creation of housing cooperatives.
Borys Emeldesh, President of the All-Ukrainian Professional Association of Entrepreneurs, stressed the importance of adopting draft law No. 5054-1 to address the problem of large businesses abusing the simplified taxation system. He also noted the importance of holding annual Committee hearings on SMEs.
The discussion participants identified the following key priorities for 2025:
- Developing a special taxation system and incentives for the affected regions
- Removing barriers to business, solving the problem of excessive blocking of tax invoices
- Improving business access to finance, continuation of the 5-7-9 programmes
- Resolving issues with staff retraining
- Preparation for European integration and access to new export markets
- Support for innovation and technological development
Following the conference, the participants agreed on the issues discussed and agreed to jointly implement the planned projects. An agreement was also reached to hold Committee Hearings on Small and Medium-sized Businesses in early February 2025.5
Source: Ukrainian Business Council
