10.09.2010 17:46

Tihipko: Investment to help revive Ukrainian economy


The Ukrainian government is insistently working on the creation of a favorable investment climate in Ukraine, Deputy Prime Minister for Economic Affairs Serhii Tihipko said at an international investment forum, entitled "Integration and Partnership" in Kyiv, Ukrinform reports.

"The stabilization of public finances, the recovery of the banking system and deregulation are the three pillars of the economic bloc of the government. The realization of these tasks will significantly improve the investment climate and help the country climb from the bottom in the world rankings of conditions for doing business," he said.

The deputy Prime Minister stressed the importance of restoring lending to the economy by the banking sector. The state will promote greater transparency of banks, while strengthening the protection of creditors' rights, he added.

"The liquidity of the banking system is about 50 billion hryvnia (7.91 hryvnia per 1 US dollar), which is almost three times more than a year or two ago." Consequently, banks have funds for lending, but they do not issue loans due to loan defaults amid the crisis. Our urgent task is to make this money work on the economy," Serhii Tihipko said.

He also informed investors about the measures being taken by the government to deregulate the economy: "We have already reduced the number of licensed types of work by two-thirds. We will also reduce the number of audit organizations by nearly half, from 79 to 40, and a list of taxes will also be significantly decreased, from 40 to 23."

Serhii Tihipko expressed confidence that the reforms being implemented by the government would lead to the restoration of investment flows into Ukraine.

Теги материала: Prime Minister, Ukraine, Tyhypko, economy, bank

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