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A regular meeting of the Council of Domestic and Foreign Investors under the President of Ukraine was held
08 June 2012 15:25

A regular meeting of theCouncil of Domestic and Foreign Investors under the President of Ukrainewas held onJune 7, 2012.

On behalf ofJapanthe meeting was attended by:

- Hakuo Yanagisawa, Chairman of the Japan-Ukraine Economic Council;

- Toshiyuki Kosugi, Executive Officer forEurope, theMiddle Eastand Africa, Japan Bank for International Cooperation

-

Opening the meeting of the Council of Domesticand Foreign Investors,Presidentof UkraineViktor Yanukovych saidthatUkraine’s economy shows signs of positive growthdespite the difficult situation in the world.Among the positive shifts in the economy ofUkraineover the last two years President named the reduction of budget deficit, and continuous GDP and industrial production growth.

The work on creating a favorable investment environment in Ukraine and improving the relevant national legislation continues President Viktor Yanukovych said atthemeeting of the Council of Domestic and Foreign Investors.The President commended the cooperation between the government and business to improve the legal framework of doing business in Ukraine. President Yanukovych pointed out the fact that investment in the domestic economy is growing. According to him, fixed investments grew 22% last year, compared to 2010, and in the first quarter of this yearthere isalready 30%growth.The President expressed his belief that the number of interested domestic and foreign investors will continue growing, as the quality of projects offered for implementation in Ukraine is also growing. "There are investments made in a variety of innovations. With their help we are improving the competitiveness of our enterprises, our products, and our country," Viktor Yanukovych said.

The question of automatic VAT refunds in Ukraine is almost resolved, President Viktor Yanukovychemphasizedatthemeeting.The President also said that the adoption of the new Tax Code had contributed significantly to the resolution of the problem.

President Viktor Yanukovych saidthat theGovernment will continueimplement deregulation policyand fighting corruption to ensure favorable conditions for business and investment.He reminded that the Government of Ukraine has already reduced the number of different permits and licenses by 85%.

President Viktor Yanukovych appreciates the attention of foreign investors to the implementation of environment-friendly projects inUkraine.According to the President, no less than 10% of funds from every investment project should beaimed atimprovementofthe environmental situation in Ukraine.The President urged the investors in mining, metallurgy, and chemical industry to particularly consider this question. "If you wish to involve me personally in this work, I am ready to study Ukraine’s legislation together with you to create incentives for you to invest in environmental projects," he said.

President of Ukraine willgive appropriateinstructions following the results of the meeting of the Council of Domestic and Foreign Investors, whereby all the proposals voiced during the meeting will be implemented. President said that he expects from the Government of Ukraine endorsement of the proposals concerning resolution of issues raised during the meeting.

Speaking at the meeting of the Council of Domestic and Foreign Investors, President Viktor Yanukovych invited its participants to join the work of the recently established World Economic Forum Global Agenda Council on Ukraine. This forum will be held annually inUkraine.

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