Azarov: Ukraine improving investment climate, fighting corruption

KYIV, February 5 /UKRINFORM/. Active work is being conducted in Ukraine to improve the investment climate and combat corruption.

Ukrainian Prime Minister Mykola Azarov said this at a meeting with President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti, the press service of the Cabinet of Ministers reported.

"Mykola Azarov said that this year Ukraine plans to enter the list of top hundred countries regarding the ease of doing business," reads the statement.

The prime minister said that there is a favorable investment climate in Ukraine, which could be evidenced by the recent signing of a major investment agreement with Shell on the development of the Yuzivske gas field. "The volume of investment is ten billion dollars," Azarov said.

He said that Ukraine was implementing a national plan of structural reforms. He noted that Ukraine increased the attractiveness of doing business rating by almost 50 positions last year. The country also climbed 16 spots in the Doing Business 2012 ranking. In addition, Ukraine cooperates with various international organizations on economic issues, in particular, with the American Chamber of Commerce, the European Business Association and others.

The prime minister said that Ukraine was conducting considerable work to support and protect the rights of investors and businesses.

Azarov said that businesses had welcomed the introduction of changes in the context of the adoption of the new Tax and Customs Codes. He said that the profit tax in Ukraine is 19%, value added tax is automatically refunded, and a number of problems with customs clearance of cargo have been resolved. In addition, a new Criminal Procedure Code was adopted, judicial reform was conducted, and centers for the provision of administrative services are being created, Azarov added.

The prime minister noted that Ukraine was actively fighting corruption. "There is a whole program that, on the one hand, makes decision-making processes transparent, and, on the other hand, raises the responsibility of administrative persons for corrupt activity," he said.