Ukrainian President Promotes Ukraine's National Projects in Southeast Asia

By Worldwide News Ukraine, PRNE
Friday, April 1, 2011

KYIV, Ukraine, April 2, 2011 - President of Ukraine Viktor Yanukovych has completed his state visits to
Singapore, Vietnam and Brunei, where he called the Southeast Asian businesses
to invest into the Ukraine's National Projects. They include 10 strategically
significant investment opportunities which receive a preferential treatment
from the state institutions and are set to reposition Ukraine of the world
investment map.

During his trip to Southeast Asia President Yanukovych has called the
Singaporean and Bruneian businessmen to participate in the project of
preparation for Euro 2012 as well as in the project on construction of sea
LNG terminal, Interfax reports.

Las year the government of Ukraine approved the list of the National
Projects in four priority sectors - "New Energy", "New High-quality
Infrastructure", "New Quality of Life" and "Olympic Hope 2022." The President
made it clear that the state would support the National Projects through the
necessary legal and regulatory reforms aimed at simplifying the process of
licensing and other regulatory procedures. "We set for ourselves the
ambitious tasks of creating a qualitatively new innovation-based economy. And
by our joint efforts we will bring them to fruition" added Viktor Yanukovych.

To raise the country's investment attractiveness, in 2010 the Ukrainian
leadership embarked on implementing several key reforms, namely tax,
administrative and anti-corruption. The first step in this process was taken
in December 2010, when the Draft Tax Code was adopted. The number of taxes
according to this document was reduced from 42 to 23 and the main tax rates
(income tax and VAT) decreased.

To stimulate foreign investments, in July of 2010, the Parliament adopted
the law on public-private partnership. According to the law, foreign
businesses, which are involved in public-private partnerships in Ukraine,
enjoy the national regime for investment and business activities and have
additional guarantees protecting their investment.

On the macroeconomic perspective, the country is showing clear signs of
recovery from the crisis after two years of economic recession. The
International Monetary Fund estimated Ukraine's GDP growth in 2010 as 3.7
perent and forecasted that country's GDP would grow by 4.1 percent in 2011.
According to the IMF, the inflation rates in Ukraine will average 9 percent
in 2011.

For more information, please contact Maryna Khorunzha +380-443324784 news at, Project Manager at Worldwide News Ukraine

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