Zelenskyy signs ESB reform into law

Business

29 June 2024, 04:12 AM

Ukrainian President Volodymyr Zelenskyy has signed the recently passed reform of the Economic Security Bureau (ESB) into law, Ukrainian MP Yaroslav Zheleznyak reported via Telegram on June 28.

The Ukrainian parliament passed the bill on June 20 in its second reading, with 239 MPs voting in favor.

The bill mandates an independent selection process for the new head of the bureau. The selection will be carried out by a commission of six members, half of whom will be international experts with casting votes.

Additionally, the reform includes re-certifying all current ESB employees. Both these processes will involve international experts and consultants to avoid domestic regulatory capture.

The final version of the bill included several proposals from the Ukrainian business community:

  • International experts, along with representatives of business-related public organizations, will be included in the selection commissions for new hires and re-certifications of all current ESB employees;
  • The bureau’s analytical functions will be strengthened by providing free access to existing state databases and registers.

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