Japan's Justice Ministry plans to help Ukraine overhaul key laws to help streamline the reconstruction after the war with Russia ends, The Japan Times reported, citing anonymous government sources in Tokyo.
The ministry is studying the legal situation in Ukraine before deciding on the components of a legal aid package that could help Ukraine revise its laws on foreign investment and foreign companies operating in the country as well as harmonize regulations with other countries, the newspaper reported.
"Once Ukraine moves into the phase of restoration and reconstruction, huge economic demands could be created," the newspaper wrote on July 14. "But concerns have been raised about the potential risks to companies due to differences in the legal systems of Ukraine and other countries."
The aid is coordinated in a program led by the development finance institution Japan International Cooperation Agency (JICA), which announced plans last year to re-open its Ukraine office, closed since the full-scale Russian invasion of February 2022.
"Through this program, Japan has helped more than 10 countries, including Vietnam, Cambodia and Laos, to draft basic laws and regulations, operate their judicial institutions and train prosecutors and judges," The Japan Times said. "Ukraine is believed to have sought cooperation from Japan in view of its track record in this area."
In February of this year, JICA also decided to invest $20 million in HCGF IV, the latest fund of Ukraine-focused private equity firm Horizon Capital to "catalyze financing to fast growing, asset light, exporting technology companies," in Ukraine.
In December of last year, Japan held the "First Expert Meeting of the “Anti-Corruption Task Force for Ukraine,” which was meant to help advise Ukraine on combatting corruption. The meeting included anti-corruption experts from Japan and Ukraine, as well as most G7 nations and several international organizations.
