Some 75% of 166 businessmen polled by the American Chamber of Commerce in Ukraine have said that corruption remains the key problem for business, according to a survey on the investment climate in Ukraine, with participation of 166 Chamber members conducted by the Chamber.

"Corruption has long been a problem number one for conducting efficient and transparent business in Ukraine," the Chamber said in a press release issued on Thursday.

" To eradicate it, we need to hold open transparent tenders by independent auditors, change staff in the most problematic institutions as well as bring to justice corrupt individuals and reform public administration," Andy Hunder, President of the American Chamber of Commerce in Ukraine, said.

Ukrainian legal system (16%) and significant bureaucratization (9%) are also seen as problems by business community. To lessen bureaucratization, Chamber members suggest simplifying communication between business and administration, through the introduction of electronic services at all stages of the exchange of information, namely: automation registers, agencies, centralization of information and open sharing.

Some 39% of respondents preferred agriculture and banking and financial services each as the most promising areas for business growth in 2016.

However, business believes that agriculture requires the development of alternative instruments of financial support for small and medium farmers, further deregulation (to simplify the process of obtaining permits) and the introduction of agricultural land market.

Information technology, market consumer goods, banking and finance were also identified as promising.

KYIV. March 11 (Interfax-Ukraine) – Some 75% of 166 businessmen polled by the American Chamber of Commerce in Ukraine have said that corruption remains the key problem for business, according to a survey on the investment climate in Ukraine, with participation of 166 Chamber members conducted by the Chamber.

"Corruption has long been a problem number one for conducting efficient and transparent business in Ukraine," the Chamber said in a press release issued on Thursday.

" To eradicate it, we need to hold open transparent tenders by independent auditors, change staff in the most problematic institutions as well as bring to justice corrupt individuals and reform public administration," Andy Hunder, President of the American Chamber of Commerce in Ukraine, said.

Ukrainian legal system (16%) and significant bureaucratization (9%) are also seen as problems by business community. To lessen bureaucratization, Chamber members suggest simplifying communication between business and administration, through the introduction of electronic services at all stages of the exchange of information, namely: automation registers, agencies, centralization of information and open sharing.

Some 39% of respondents preferred agriculture and banking and financial services each as the most promising areas for business growth in 2016.

However, business believes that agriculture requires the development of alternative instruments of financial support for small and medium farmers, further deregulation (to simplify the process of obtaining permits) and the introduction of agricultural land market.

Information technology, market consumer goods, banking and finance were also identified as promising.