On December 16 YouControl and the Anti-Monopoly Committee of Ukraine (AMCU) signed a memorandum of cooperation. The AMCU is a state body with a special status, it is responsible for protecting competition in entrepreneurship and government procurement. The institution controls compliance with the legislation in these areas, regulation of prices for products manufactured or sold by monopolists and generally contributes to the development of fair competition.
By signing the memorandum YouControl and the AMCU confirmed their desire to work together on improving the business environment in Ukraine. For this purpose the parties plan to hold joint events, organize training programs, share expertise.
For its part YouControl will provide the AMCU employees with full test access to the analytical system. Coaches of the company will give trainings for the central office and regional departments of the institution concerning the efficient use of all the capabilities of the system. And the Committee’s specialists will help expand the functionality of YouControl, namely add to the express analysis new elements associated with the AMCU penalties. In general, such cooperation will strengthen both parties.
“Concentration of business entities may very negatively affect the business environment, at the transparency and quality of which we work every day. The opinion of experts and the main regulator, that is the AMCU, about this issue is important to our company. In cooperation with the Committee we will be able to gain a better understanding of the problems of concentration and monopolization of certain sectors of the economy and links between some powerful market players. All this will help us try to find ways of solving these complex problems,” Sergi Milman, the founder and CEO of YouControl, said.
“More than four years ago we started working on transforming the AMCU into a modern, effective, transparent institution for the protection of competition. It is possible to conduct real, useful up-to-date researches only with professional motivated employees and modern information resources. These resources help identify financial and economic groups, their beneficiaries and control relations. YouControl is precisely such a resource. The cooperation of the AMCU and YouControl will also allow to supplement the system with more information provided by the AMCU,” Yurii Terentiev, Chairman of the Anti-Monopoly Committee of Ukraine, explained.
Let us remind you that earlier YouControl signed memorandums of cooperation with other state authorities, namely with the State Financial Monitoring Service of Ukraine and the National Bank of Ukraine.