This report includes a report prepared by the Ukrainian Government, the OECD assessment, the business perspectives, and presentations by national and international practitioners and experts.

It assesses Ukraine&s ability to comply with the principles of openness, transparency and non-discrimination and its policy convergence with international investment standards such as the OECD Declaration. In light of the recently updated OECD Policy Framework for Investment, it also studies other areas such as investment promotion and facilitation, infrastructure development; financial sector development and responsible business conduct practices. In the scarcely two years since a new attempt at economic reforms was launched in earnest, Ukraine has made quite important progress in introducing a modern legal framework for investment. But additional efforts are required in some policy areas to reaffirm Ukraine&s attractiveness for investors.

This Review assesses Ukraine’s investment climate vis-à-vis the country’s energy sector reforms and discusses challenges and opportunities in this context. Capitalising on the OECD Policy Framework for Investment and other relevant instruments and guidance, the Review takes a broad approach to investment climate challenges facing Ukraine’s energy sector.

This review, which was prepared in close co-operation with the Ukrainian authorities, analyses Ukraine’s general framework for investment, as well as recent reforms, and shows where further efforts are necessary.