Business news from Ukraine

UKRAINE TO IMPLEMENT STRATEGY OF REFORMING PUBLIC ADMINISTRATION

The Cabinet of Ministers of Ukraine approved the strategy for reforming the public administration of Ukraine for 2022-2025, as well as an action plan for the implementation of this strategy.
The relevant decision was made at the Wednesday government meeting.
“The new strategy is a continuation of the previous stage of implementation of public administration reform and is based on the results of the assessment of the government of public administration in Ukraine, carried out by experts from the Support for Improvement in Governance and Management (SIGMA),” Minister of the Cabinet of Ministers Oleh Nemchinov said in the Telegram channel.
According to him, some 82% of the surveyed citizens consider the reform of public administration important, some 65% of citizens are satisfied with the service in the centers for the provision of administrative services.
“At the same time, the introduction of the general administrative procedure, the reform of remuneration in the civil service and a number of other aspects requires implementation,” he said.
The main goal of the strategy is to build a capable service and digital state in Ukraine that protects the interests of citizens based on European standards and experience.
The expected results of the public administration reform until 2025 include ensuring the provision of high quality services and the formation of a convenient administrative procedure for citizens and businesses; formation of a professional and politically neutral public service system focused on protecting the interests of citizens; development of effective and accountable to citizens of public institutions that form government policy and successfully implement it for the sustainable development of the country.

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UKRAINE’S REGULATOR AMENDS STRATEGY FOR REFORMING PUBLIC REGULATION OF NONBANKING FINANCIAL SERVICE MARKET FOR 2015-2020

Ukraine’s National Commission for Financial Service Markets Regulation on December 18 amended the strategy for reforming the public regulation of the nonbanking financial service market for 2015-2020 approved by commission resolution No. 499 dated March 19, 2015, according to a posting on the website of the League of Insurance Organizations of Ukraine (LIOU).
According to the league, the goal of the strategy is to reform the public regulation of nonbanking financial services markets to ensure favorable conditions for their further development, increase investment attractiveness, restore consumer confidence in nonbanking financial services, and enhance the role of the nonbanking financial sector in the social and economic life of the country.
According to resolution No. 2230 of the regulator dated December 18, 2018, the main objectives are to bring the regulatory environment of the nonbanking financial services market to international standards of regulation and supervision, improve the activity of the regulator and increase the effectiveness of public supervision, and increase the level of financial inclusion and protection of the interests of consumer of nonbanking financial services, create favorable conditions for the strengthening and sustainable development of nonbanking financial services markets.
In particular, to achieve the strategic goal of creating an enabling environment for strengthening and sustainable development of nonbanking financial services markets, the strategy is expanded by the objective of improving the system of analysis, forecasting and strategic policy planning in the provision of nonbanking financial services.

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