On December 18, Ukraine’s Cabinet Ministers held a "deregulation day", which resulted in the adoption of 12 business decisions and the abolition of 340 outdated regulations, following initiatives prepared by the Better Regulation Delivery Office (BRDO) in conjunction with the Ministry of Economic Development and the State Regulatory Service, with the support of the EU4Business FORBIZ project.
In particular, the Cabinet of Ministers simplified the order of customs clearance of goods in sea and river ports. From now on, foreign vessels are allowed to enter Ukraine's ports and dispose of goods 24 hours after the provision of electronic information about the cargo. This will speed up customs procedures and reduce opportunities for corruption.
In addition, an important step was taken to stimulate an increase in domestic production and create optimal conditions for the provision of raw materials for chemical enterprises in Ukraine with the decision to expand the list of companies that receive quotas for the receipt and import of chemical raw materials without paying excise tax.
Another decision simplified the procedure for the opening and operation of representative offices of foreign companies and financial institutions in Ukraine, which will improve the investment climate.
In addition, the Cabinet of Ministers supported the BRDO proposal to abolish 340 obsolete regulatory acts in the areas of job safety, fire safety, sanitary and epidemiological control. This step will significantly reduce the risks of corruption and regulatory pressure on business.
The government also made a step towards the liberalisation of the use of cash registers, increasing the annual amount from UAH 200,000 to UAH 500,000 for the obligatory use of cash registers.
Funded by the European Union under the EU4Business initiative, the FORBIZ project supports Ukraine’s reform agenda and its economic recovery by proposing a systemic, smart change to a more business-friendly environment with a particular focus on SMEs. The project seeks to steer a shift in policy towards greater recognition of SMEs and the vital role they play in economic recovery, while addressing the challenge of reducing regulatory burden and lessening risk for businesses.