The President of Ukraine has enacted the Economic Security Strategy of Ukraine for the period up to 2025, adopted earlier by the National Security and Defense Council.
The Strategy sets a base for the formation of a state policy in the field of economic security and contains a detailed assessment of its key areas: financial, production, foreign economic, macroeconomic, investment and innovation security. In each of these areas the Strategy defines the main challenges, targets, as well as tasks and measures for their implementation.
Among the key tasks defined by the Strategy are:
Ukraine has already started developing legal framework for foreign investments screening. In January 2021 the Cabinet of Ministers of Ukraine approved draft law no. 5011 'On Foreign Investments in Entities Having Strategic Importance for Ukraine's National Security', introducing a screening procedure for foreign investments in entities that are active in industries of strategic importance for Ukraine’s national security. The draft law contains the list of the transactions that would trigger the screening, overview of the screening procedure (including filing requirements and timeline), as well as the list of strategic activities subject to screening. Those include activities in the areas of nuclear energy, radioactive waste management, weapons and ammunition, aviation and space exploration, provision of services to natural monopolies, extraction of mineral resources.
The draft law is pending its first reading before the Ukrainian Parliament.