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The President of Ukraine Signed the Law on the Bureau of Economic Security

The President of Ukraine Signed the Law on the Bureau of Economic Security

On March 22, 2021, the President of Ukraine Volodymyr Zelenskyy signed the Law #1150-IX "On the Bureau of Economic Security of Ukraine" (the Law), and its text was officially published.

The Law foresees creating a law enforcement agency that will deal with criminal violations in the field of economic activity as well liquidates the tax police.

Previously, the Chamber member companies' experts have submitted a number of proposals to the respective Draft Law #3087-d, a part of which were taken into account and reflected in the adopted Law.

The American Chamber of Commerce in Ukraine welcomes the dialogue between the business and the state, yet a number of quality and well-balanced legislative changes to the Criminal and Criminal Procedure Codes are still to be made to ensure the effective implementation of this reform.

Given the above and since the transparency of the Bureau's employees' selection process is not defined yet,  experts of the Chamber member companies will continue closely monitoring these aspects and stand ready to provide respective proposals.