Business news from Ukraine

Business news from Ukraine

EUROPEAN BUSINESS ASSOCIATION CALLS FOR QUALITY LAW ENFORCEMENT REFORM IN 2021

Business awaits law enforcement reforms, but the latest version of the law on the Economic Security Bureau and the bill on the reform of the Security Service (SBU) adopted at first reading raise doubts about the quality of such reforms, the European Business Association (EBA) said in a release.
“It is worth noting that currently, the problem of cooperation with law enforcement agencies concerns not only SMEs and regional entrepreneurs but also large international companies and strategic investors,” the release says.
“The reform issue is especially relevant now in the context of the establishment of the Bureau of Economic Security. Although the community has not yet seen the final version of the document, the business was wary of the penultimate version of the draft law. Thus, there are fears that instead of a radically new analytical body that would help protect the interests of business, a new structure may be created with a new name, but with the same methods of work and even the same people,” the EBA says.
“At the same time, the SBU reform was launched, so to speak, by the adoption of the draft law No. 3196-d at first reading. Thus, the draft law was supposed to eliminate anti-corruption and economic units in the SBU, partially demilitarize the service, etc. However, there are fears that the liquidated SBU departments will be reincarnated as other functional units that will provide counterintelligence support in the economic context. In other words, it is likely to put continued pressure on the business. And, in general, this document invokes a lot of questions concerning the renewed functions and powers of the service,” it noted.
“Therefore, the European Business Association appeals to Volodymyr Zelensky, President of Ukraine, Denys Shmyhal, Prime Minister of Ukraine, and Arsen Avakov, Minister of Internal Affairs, to pay due attention to reforming the law enforcement system in 2021. It is unacceptable and unreasonable to persecute the business. Otherwise, the issue of attracting investment, business development, and economic development, in general, may become a big question. We hope that the time for fundamental reforms has come and we will finally move from talks to the action!” the document says.

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