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Yanukovych names basic conditions for drawing FDI to Ukraine

February 17, 2010

The future President of Ukraine, Viktor Yanukovych, presented the main conditions for attracting international investment to Ukraine. These include judiciary reform, the adoption of a package of bills on combating corruption, and tax reforms.

In view of this, Mr. Yanukovych noted, the Tax Code needed to be adopted without delay. This would make it possible for the economy to recover much-needed “additional financial resources. I believe that taxes need to be cut back to around 16-17%,” the Party of Regions leader added. “World practice shows that this stimulates economic growth. All these factors, plus stability within Ukraine, should encourage foreign investors to begin looking at Ukraine again and to invest in our economy.”

Mr. Yanukovych claimed that his program through to 2020 would allow Ukraine to reach GDP growth that matched that of the "Top 20" countries of the world.

Tags: investment, FDI