Italy’s Foreign Ministry: Ukraine needs irreversible reforms of banking and energy sector

"I would like to emphasize the need for irreversible reforms of the banking sector, as well as the need to proceed without further delay to the privatization of state-owned enterprises and other measures within the privatization program," Deputy Minister of Foreign Affairs of Italy Benedetto Della Vedova said at the 4th Ukraine Reform Conference in Vilnius.

He also welcomed Ukraine's progress towards decentralization but stressed the need to finalize the regulatory framework for this reform which "will enable the use of best practices in this area".

Vedova added that the land reform, which successfully began on July 1 with the lifting of the moratorium on agricultural land sale in Ukraine, also needs quality promotion.

"This opens up opportunities for foreign investment that could bring development to this sector, which is one of the main in the national economy," the Deputy Minister of Foreign Affairs of Italy said.

The Italian politician added that the continuation of reforms in the energy sector was also very important for Ukraine, as it "will create stable and equal conditions for international operators. [Energy reform is] critical to attract further investment and deepen the integration of Ukraine's energy markets into the energy market of the European Union."

Vedova summed up that Italy was still determined to support Ukrainians on the path to building a democratic state, reforming its economy "which will allow it to fully profess our values ​​and goals."

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