Monday, June 13, 2016

Volodymyr Groysman: Government's task is to create sustainable system of attracting investment in Ukraine

The Government will make efforts to reduce regulation, overcome abuse by regulatory authorities, ensuresystem stability and rule of law in order to create favorable conditions for attracting investment into Ukraine.Prime Minister of Ukraine Volodymyr Groysman stated during the opening of the Sweden-Ukrainian business forum in Kyiv on Monday, 13 June.

"Our task is to generate a reasonable regulation, prevent any abuse of supervisory authorities, create such a stable system so that you could quite easily anticipate its investments in the Ukrainian economy. Business climate should be comfortable, despite the origin of investment," said Volodymyr Groysman, referring to businesses.


The Prime Minister informed that to this end the Government will soon create an investment support agency.

According to him, the Government's home task is to create favorable simple conditions so that investors can do their business easily. Volodymyr Groysman stressed that the Ukrainian Government's priorities are deregulation and ensuring investors with free access to Ukraine.

Amidst the most promising areas in Ukraine that can "bring success to those who invest and for our country", according to him, are the energy industry, IT sector and the agricultural complex.

The Prime Minister pointed out that the rule of law and the justice system change is the key to investment protection. In this context, he recalled that the Verkhovna Rada of Ukraine had adopted constitutional amendments in the judicial sector. This will reboot the system and enable it to attract new honest professionals.

Strong economy is the basis for attracting investment, Volodymyr Groysman pointed out. That is why the main priority of the Government is to ensure macroeconomic stability in the country and further deregulation.

The Prime Minister informed about the steps undertaken by the Government, including the launch of civil service and Ukrainian customs reforms. Also this year will be introduced electronic declaration, he noted.

Moreover, the Government will make efforts to ensure the sustainability of the tax system in Ukraine. To this end, the Government will respond to signals from business, said Volodymyr Groysman. However, tax laws should be changed so that the new system to be predictable and easy to use. According to him, this requires the impossibility of amending the tax legislation in the coming years, "so you clearly see with which system you have to work," the Prime Minister said, referring to businesses.

Volodymyr Groysman also expressed confidence that by the end of this year the stability of the national economy would be ensured. "I think that by the end of this year we will see the steps showing that reforms continue and changes are taking place," he noted.

The Head of Government highlighted the great potential of cooperation between Ukraine and Sweden, in particular in the areas of investment attraction and trade. "Today it is essential to develop our bilateral relations. We understand that in this case the Ukrainian authorities have home task. We have to create conditions for dynamic development of our bilateral relations," Volodymyr Groysman stated.

The Prime Minister wished success, stability and development to the business community. "Then, Ukraine will be successful, and the stability in our country will be ensured. Your success is the development of Ukraine," he underlined.

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