Specialists at Holosiivskii STI discuss main factors attracting foreign investors

Promoting investment attractiveness of Ukrainian economy is one of the key priorities of the National Action Plan for 2013 to implement the program of economic reforms for 2010-2014 "Prosperous society, competitive economy, effective government".

Such attention and support of the investment climate at the state level is quite natural, because today as at any other time, investments play a very important role not only in the development of an enterprise, but also the nation as a whole. Creating a favorable investment climate is today's primary task because through this the economy will receive the boost it will need for further development.

Implementation of a number of important economic, legal, regulatory and policy measures to improve the investment climate in Ukraine will ultimately reduce the risk of investment and increase its effective use.

Today Ukraine has a developed legal framework for investment, because of the necessary guarantees to investors provided by applicable law. It should be emphasized that the Law of Ukraine "On Foreign Investment" established a national regime for foreign investors in Ukraine, i.e., granting conditions equal with domestic investors.

Moreover, under the Law, upon termination of investment activities a foreign investor is guaranteed the return of his investment in kind or in currency investments without duties and investment income in cash or in kind. The state also ensures unhindered and immediate transfer of profits and other funds in foreign currency obtained legally as a result of foreign investment.

Importantly, to increase the security of foreign investment Law of Ukraine of 16.03.2000, № 1547 ratified the Washington Convention 1965 on the Settlement of Investment Disputes between States and Nationals of Other. The Verkhovna Rada of Ukraine signed and ratified intergovernmental agreements on mutual promotion and protection of investments with more than 70 countries.

In order to promote the investment climate in Ukraine the Ministry of revenue and duties introduced the tool regarding models of business transactions of enterprises with foreign investment. At the request of enterprises with foreign investment the Ministry informs on tax risks, if any, found during the analysis of the model of business transaction. Relevant application may be filed in paper form or by electronic means under the law on electronic documents.

All these conditions are created with sole purpose: Ukraine strives to become a stable and predictable business partner.