On November 11, the Verkhovna Rada of Ukraine adopted as a whole the Law of Ukraine “On Amendments to the Law of Ukraine ‘On State Aid to Undertakings’ Regarding the Restoration of Specific Provisions, the Specifics of Their Application During the Legal Regime of Martial Law, and the Improvement of Monitoring State Aid to Undertakings” (Reg. No.15437).
The Law is aimed at restoring specific provisions of legislation on state aid to undertakings that had been suspended, as well as improving state aid monitoring mechanisms and control over its compatibility with competition.
Implementation of the Law will foster clear and more predictable rules for granting state aid to undertakings, improve state control, and ensure compliance with the principles of fair competition.
The document is of particular significance under martial law and for Ukraine’s future economic recovery. It will assist to balance the need of state aid to undertakings with ensuring a level playing field for all business entities.
Furthermore, the adoption of the Law represents an important step toward fulfilling the measures of the Ukraine Plan under the EU’s Ukraine Facility financial support instrument and aligning national legislation with European state aid rules.
The Committee on Economic Development served as the lead committee responsible for processing the draft law.