Corruption, mistrust of judicial system remain main obstacles to investment in Ukraine
A large-scale corruption and a lack of confidence in the judiciary remain the main obstacles to investing in Ukraine for the third year in a row, according to a survey conducted by Dragon Capital investment company (Kyiv) and the European Business Association (EBA).
"For the third consecutive year, unfortunately, corruption ranks first among the problems hampering investors from investing in Ukraine. The figure has slightly decreased compared to last year, but still remains in the first place," Dragon Capital CEO Tomas Fiala said at a forum of the Reanimation Package of Reforms in Kyiv.
According to him, mistrust of the judicial system ranks second, while the third is the unstable currency and financial system amid deterioration of the attitude of international investors to developing countries. Accordingly, the factor of monopolization of power by oligarchs and the conflict of interests between politicians and businesses has shifted to the fourth place. The military conflict with Russia ranks fifth.
Speaking about investors' expectations, Fiala said they expect the existing, or already the next authorities, who will be elected in the elections in 2019, first of all, to effectively fight against corruption. In addition, investors note the need to reboot the judicial system and resolve the problem of conflict of interests.