Denis Shmygal supported the signing of the Memorandum on Stock Market Development

On October 22, the Prime Minister of Ukraine, Denis Shmygal, chaired a meeting to discuss the creation of infrastructure of the stock market development in Ukraine.

The meeting was attended by Timur Khromayev, the Chairman of the National Securities and Stock Market Commission, Farhad Ghaussy, the Director of the USAID Economic Growth Office, Irina Kravchenko, EBRD Senior Banker, and representatives of the Cabinet of Ministers, according to the Government portal.

The Prime Minister of Ukraine listened to the concepts of the stock market development in Ukraine and supported the initiative to sign a memorandum with international partners and stakeholders, which will include step-by-step implementation of the necessary financial infrastructure for stock market development in Ukraine and testify the priority of the reform for the Government of Ukraine.

“The experiment time is over. We need clear project steps that will lead to a civilized market. There is definitely political will and support for the Government”, – Denis Shmygal emphasized.

The Head of Government noted that the creation of the stock platform could take three years and expressed hope that as many international experts as possible who already have working financial models in their countries will be involved in the work. “There is a timeline – a three-year time horizon. The full-fledged creation of a stock platform in Ukraine will take some time, because it requires a change in legislation and rules”, – the Prime Minister said.

Farhad Ghaussy, the USAID Director of Economic Growth, expressed support for stock market reform: “This is a large ambitious project that will have a transformative effect on the Ukrainian economy. The project will change the way international investors view Ukraine if it is implemented properly. It’s more than an idea, we want the platform for trading different types of assets to be a reality”.

The source of information: Government portal