Ukrainian International Financial Center may start operating in 2023

Ukrainian International Financial Center may start operating in 2023

The Ukrainian International Financial Center may start operating in 2023.

"A memorandum between the Government [of Ukraine] and our American and European partners on the formation and establishment of the Ukrainian International Financial Center was prepared. This idea became possible thanks to the adoption of the law on simplification of investment attraction last year… The Center is expected to be launched in 2023," Timur Khromayev, Chairman of the National Securities and Stock Market Commission (NSSMC), said at the Cabinet’s meeting, an Ukrinform correspondent reports.

The Chairman of NSSMC noted that the new financial center will be based on five institutions: an advisory board, an investor relations department, an arbitration center, a universal stock exchange and a financial and infrastructure holding. In his opinion, the implementation of the project to launch the Ukrainian International Financial Center will provide an opportunity to accelerate economic growth and improve the general welfare of the population.

"According to our preliminary estimates, this [launch of financial center] will give an additional 2% of GDP annually. In addition, these are fair and transparent pricing processes for basic goods and financial instruments," Khromayev said.

As reported, the concept of stock market development in Ukraine was presented on October 22, 2020 at a meeting to discuss the creation of infrastructure for the development of the stock market in Ukraine.


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2021 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period: