EU AMBASSADOR TO UKRAINE BACKS IMPROVEMENT OF BUSINESS CLIMATE FOR ATTRACTING INVESTMENT

Business news from Ukraine

EU AMBASSADOR TO UKRAINE BACKS IMPROVEMENT OF BUSINESS CLIMATE FOR ATTRACTING INVESTMENT

9 Oct , 2017  

KYIV. Oct 9 (Interfax-Ukraine) – Head of the EU Delegation to Ukraine Hugues Mingarelli believes that improvement of business climate and rule of law is obligatory for attracting investment in the country.
“I insist on the fact that for us, tariffs and quotas are not the main obstacle to trade. The main obstacle today… are norms and standards… there is a need, obviously, to improve the business climate,” he said speaking at the 4th Kyiv International Economic Forum on Friday, October 6.
Mingarelli said that Ukraine has fantastic assets that are interesting for investors.
“Still any investor hesitates to invest in Ukraine. Why? Because the risks are too high. Which kind of risk? The risk which is linked to the absence of the rule of law,” the diplomat said.
The ambassador said that every week European companies in Ukraine face the harassment from law enforcement agencies and raids. European companies do not trust courts because of the high level of corruption in the justice.
“If we manage to establish a decent level of the rule of law in this country, foreign companies, including EU ones, will rush to invest in Ukraine, because Ukraine has so many assets,” he said.