Zelenskyy Bolsters Business and Sanctions

In a series of announcements at the State and Business Forum in Kyiv, Ukrainian President Volodymyr Zelenskyy emphasized the critical role of domestic businesses in national defense and announced significant policy shifts to support economic growth. The President highlighted that over 40% of the weapons used to defend Ukraine’s independence are provided by Ukrainian businesses, underscoring the importance of a robust partnership between the state and entrepreneurs.

President Zelenskyy has instructed the preparation of a long-term moratorium on business inspections to alleviate pressure on entrepreneurs and foster a more conducive environment for economic activities. The initiative aims to encourage economic growth by reducing bureaucratic obstacles and is part of a broader strategy to enhance dialogue between the state and the private sector.

Additionally, Zelenskyy announced the expansion of the Council for Entrepreneurship Support to increase business representation and broaden its scope of activities. This move, as stated by Andriy Yermak, Head of the Office of the President, is designed to address pressing issues and develop new economic strategies, fostering a stronger collaboration between the state and domestic businesses.

In parallel, Zelenskyy reiterated the importance of international cooperation in imposing sanctions against Russia. He stressed the need for synchronization with global partners to apply pressure on Russia and ensure that Ukrainian sanctions are echoed internationally. This aligns with Ukraine’s strategy to increase sanctions pressure on Russia, as highlighted during the Fair Play Conference, emphasizing a collective international effort to impact the aggressor’s economy significantly.