Investments and post-war recovery: NSSMC and European Commission identified priorities

The NSSMC held a meeting with representatives of the European Commission’s Directorate-General for Enlargement and Eastern Neighborhood (DG ENEST) and the EU Delegation to Ukraine. The participants discussed the state and prospects of the Ukrainian capital market, the institutional capacity of the Commission, and the steps needed to attract investment into the Ukrainian economy, particularly in the context of post-war recovery.

During the meeting, representatives of the European Commission emphasized that Ukraine’s recovery will require significant investment, and that the inflow of such investment directly depends on investor confidence in the regulatory framework and oversight system.

Chairman of the NSSMC, Oleksii Semeniuk, outlined the main priorities for the regulator’s work. These include creating a friendly investment climate for foreign investors, bringing the NSSMC’s work in line with IOSCO international standards, and getting ready to join the Multilateral Memorandum of Understanding (MMoU), which is expected to be signed in May 2026.

Special attention was paid to the development of the stock market. For the period of 2025 and as of the beginning of 2026, 81% of its volume is accounted for by government bonds (OVDPs), and the NSSMC aims to change this proportion by increasing liquidity in capital markets through the introduction of investment accounts, as well as simplifying market entry for small and medium-sized businesses. In particular, as part of the “people’s IPO” idea, citizens will be able to purchase 7-8% of the shares of state-owned banks, which should increase market liquidity.

Following the meeting, DG ENEST and the EU Delegation to Ukraine confirmed their readiness to strengthen cooperation with the NSSMC, in particular in its interactions with DG ECFIN, ESMA, and in joint work on updating corporate legislation in Ukraine.