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OECD membership will unlock new investment opportunities for Ukraine: Denys Shmyhal

Ukraine Government

Communications Department of the Secretariat of the CMU, posted 06 May 2025 13:38

Ukraine aspires to become a full member of the Organisation for Economic Co-operation and Development (OECD), and the Government, with the support of its partners, is already building a modern, efficient state by implementing essential reforms. This was emphasised by Prime Minister of Ukraine Denys Shmyhal during the presentation of the OECD's Economic Survey of Ukraine and the Integrity and Anti-Corruption Review of Ukraine. The discussion involved OECD Secretary-General Mathias Cormann, government officials, parliamentarians, and representatives from the President's Office.

Denys Shmyhal highlighted that these documents would serve as a roadmap for the Government, the private and public sectors, and Ukraine's partners. "The Economic Survey captures the current state of Ukraine's economy, the daily challenges we face, and provides concrete proposals for recovery. Equally significant is the Integrity Review, as economic recovery, growth, and prosperity are only possible with effective institutions and the eradication of corruption," the Prime Minister stated.

He outlined that the Government was focusing on five key areas to achieve these goals. These include anti-corruption infrastructure, digitalisation, and deregulation. "Since the onset of the full-scale war, the economic and anti-corruption impact of digitalisation has amounted to over UAH 66 billion. Large-scale deregulation is underway, with the Government having abolished up to 2,000 regulatory instruments across various sectors, while other procedures have been simplified or digitalised," noted Denys Shmyhal.

The third aspect of anti-corruption policy is privatisation and corporatisation. The Prime Minister stressed that plans for 2025 included improving legislation, procedures, and establishing supervisory boards. Transparency in public procurement is another area of focus. Denys Shmyhal reported that the value of contracts concluded through the Prozorro electronic public procurement system had increased nearly fivefold in a year, with competitive procurement volumes rising by 30%. Over four years, Prozorro has saved the state budget UAH 11.4 billion.

The fifth priority is efficient recovery, already being implemented through transparent and consistent mechanisms. Denys Shmyhal noted that Ukraine's recovery was a global challenge requiring collective efforts. He expressed hope that the OECD would assist Ukraine in overcoming the consequences of this devastating war.

"Our ultimate goal is to achieve full OECD membership, to join the club of developed nations that account for over 60% of global GDP, and to demonstrate that Ukraine is a viable and attractive destination for investment," the Prime Minister emphasised.

In turn, OECD Secretary-General Mathias Cormann praised the resilience and determination of the Ukrainian Government in working under challenging circumstances. He expressed confidence that by continuing reforms, adopting international best practices, and strengthening economic resilience, Ukraine would ensure stable and prosperous development.