President Petro Poroshenko has signed the law "On Amendments to Certain Legislative Acts of Ukraine Concerning Abolition of Mandatory State Registration of Foreign Investments," which the parliament adopted on 31 May 2016. The presidential press center of the Ukrainian News information agency service announced this in a statement.

The law creates conditions that are more favorable for attracting investments.

It introduced the declarative principle for state registration of investments, according to which statistical reports on foreign investments will be submitted by enterprises with foreign investment and banking institutions.

The amendments will bring Ukrainian legislation closer to the standards of the European Union and the simplified procedure for attracting foreign investment will generally facilitate restoration of the Ukrainian economy, the presidential press service said.