: PM Groysman wants foreign investment in Ukraine

17:42 May. 27, 2016

PM Groysman wants foreign investment in Ukraine

Volodymyr Groysman, Prime Minister of Ukraine. (UNIAN Photo)

Ukraine's prime minister says conditions for doing business need to be transparent 

Ukraine needs to create an office for encouraging foreign investments and developing the system of industrial parks. This is what the country's Prime Minister Volodymyr Groysman would like to see in the nearest future.

"Separately we suggest establishing the office for attracting investments. I think a system of supporting [business] should be created," Volodymyr Groysman stated during a meeting with Ukrainian business circles.

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"I would like to structure the work of the state, state bodies or local governments in such a way that the issue of bureaucratism doesn't deal with business," the Prime Minister added.

Groysman emphasized that an efficient system of Ukrainian goods promotion on foreign markets should be introduced.

"The establishment of the office backing up Ukrainian export is what will influence the development of our export potential," the official said.

Read also 12th Ukraine Investor Conference brings together key decision makers in business sphere

He continued by saying that Ukraine requires a clear, predictable, and stable tax system, which shouldn't be altered for the next three-five years.

"About our domestic business. In fact, business is always under conditions of uncertainty, pressure, inadequate financial resources and is always subjected to daily corruption," Groysman claimed. "These all happen because we are highly legally regulated. In fact, there is such an environment where legitimate business feels very hard, but in principle illegal business feels easier."

The Prime Minister declared that the government plans to agree upon a free-trade area with Canada and Turkey as soon as possible.

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