The abolition of the Commercial Code is a step that opens the way for Ukraine to join the European

Oleksiy Movchan, Deputy Chairman of the Committee on Economic Development, comments on the main aspects of the draft law on peculiarities of regulation of entrepreneurial activity of certain types of legal entities and their associations in the transition period (Reg. No. 6013), which was adopted by the Verkhovna Rada of Ukraine as a whole as a law.

"I delivered a lecture at the Kyiv School of Public Administration named after Serhiy Nyzhnyi (KSPA) on the abolition of the Commercial Code (draft law No. 6013).

KSPA is an educational platform that trains a new generation of managers for the development of Ukraine. The school educates military officers, politicians, volunteers, businessmen and statesmen who take responsibility for the country's future. The school's programs focus on strategic management, economic development, international relations, and good governance.

In my speech, I noted that the abolition of the Commercial Code is a revolutionary breakthrough for the Ukrainian economy. Why? Because it kept us in the system of Soviet approaches to managing state property. The right of economic management and operational control is a rudiment of the USSR, which contradicts the market economy and European standards.

The EU does not have state-owned and municipal enterprises in the form we have in Ukraine, and their corporate rules do not correlate with ours. The Commercial Code created legal confusion, allowed state-owned enterprises to exist on an unequal footing with private businesses, and was the basis for corruption and manipulation.

Therefore, the abolition of the Commercial Code is a step that opens the way for Ukraine to join the European economy based on competition, transparency and efficiency."