Ukrainian Investment Digest | Innovations and Technologies

Our Ukrainian PRK Partners team understands the expectations of entrepreneurs and the specifics of conducting business under martial law very well. To insure investments against the risks of war, Ukraine already cooperates with the World Bank’s MIGA agency and the American DFC agency. We offer the most pertinent information in our complimentary monthly digest spurring businesses to work on investment projects now to avoid losing time once the war ends.

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New for Investors:

  • The procedure for the implementation of public-private partnerships came into force on 10 February 2023. Ukraine is taking a course towards the development of a green economy based on key EU principles. Investments in the framework of industrial parks that can be implemented through public-private partnerships are already being discussed.

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  • The only Ukrainian state web portal "United24" began to direct funds for the reconstruction of Ukraine, specifically for the restoration of critical infrastructure facilities.

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  • The government of Ukraine has significantly simplified the import of military goods, including building the potential to develop artificial intelligence, the production of technologies, and the development of military equipment. Such projects will undoubtedly be bring benefits and demand from civilians in peacetime as well.

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Good to Know:

  • In 2022, the enemy destroyed 12 court facilities and 83 were damaged, but the Ukrainian judicial system continues to work thanks to the Electronic Court platform that allows participants in civil, economic, and administrative court proceedings to take part in cases and quickly exercise the full scope of their powers without being physically present.

UA source

  • There is a certain peculiarity in the system of executive authorities that stems from the granting quasi-judicial powers to institutions that cancel the acts of executive authorities, which is in accordance with the Constitution and laws of Ukraine. For example, the Cabinet can cancel the acts of ministries and other central executive bodies, both in full or partially (Part 6 of Article 21 of the Law of Ukraine "On the Cabinet of Ministers of Ukraine"; Part 9 of Article 15, Part 3 of Article 23 of the Law of Ukraine "On Central Bodies of Executive Power");
  • There is a myth that charitable organizations cannot do business in Ukraine because they are unprofitable, but in fact charitable organizations can engage in entrepreneurial activity to fulfil their statutory tasks provided the profit from such activity is not distributed among the founders or its participants.
  • In 2022, there was a trend where the majority of cases considered by the Grand Chamber of the Supreme Court were those transferred on the grounds of the existence of an exceptional legal problem, as well as on the grounds of the need to deviate from previously issued decisions of the Supreme Court of Ukraine, courts of cassation as part of the Supreme Court, and the Grand Chamber of the Supreme Court. Therefore, law enforcement practice in Ukraine is changing rapidly, so it is important to update your legal awareness.

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No reliance should be placed on, nor should decisions be made based on, the contents of this leaflet. PRK Partners and any individuals involved in the preparation of this guide are not responsible for the results, or any actions taken, based on the information herein, including errors and omissions.