14:17 28.04.2017

Ukraine shows economic upturn, moving investment increase – PM at meeting with American Chamber of Commerce leaders

2 min read
Ukraine shows economic upturn, moving investment increase – PM at meeting with American Chamber of Commerce leaders

On the outcomes of the activities of 2016 as well as of the first quarter of 2017 the country shows a positive trend of gradual economic upturn, and this should be the basis and the key to boost investment in the country and ensure implementation of successful projects in the real economic sector, Ukrainian Prime Minister Volodymyr Groysman has said at a meeting with leaders of the American Chamber of Commerce.

"The most crucial is that we have managed to establish a dialogue, understand each other and discuss questions not from meeting to meeting, but in the process of work. We set tasks and we are trying to tackle them. Ukraine is on the track of economic growth now and this is the movement towards increasing investment," the press service of the government reported on Friday, citing Groysman.

The prime minister reminded representatives of the business community the government's core objectives for this year are namely, a pension reform, a land reform, large-scale privatization and sectoral reforms in healthcare and education.

He said that the transformations offered by the government, in particular for land issues, have raised a wide discussion in society, however, a compromise would be found, as well as the process concerning a large-scale privatization will be triggered.

Groysman said that the Ministry of Economic Development and Trade with the assistance of the Secretariat of the Cabinet of Ministers has already elaborated the required package of legislative amendments and soon the process of finding advisors to sell major state-owned assets will be launched.

"We are engaged in the process of establishing of industrial parks, as the government's target is to replace the economy dependent on raw materials and to boost production in Ukraine. At the same time I understand that in order to achieve that it is important to create favorable conditions," Groysman said.

He said that the government is committed to continue deregulation and to further implement reform of the State Fiscal Service, inter alia improving tax and customs procedures.

Groysman also recalled that the unified electronic register of VAT refunds, which was launched a month ago, has already enabled business representatives to feel changes in this sector.

The meeting was also attended by Plenipotentiary Ambassador of the United States in Ukraine Marie Yovanovitch.

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