The participants of Extraordinary Roundtable of "World Economic Forum" in Kiev proposed to the Ukrainian power ten urgent steps for improvement of investment climate of the country.

The founder and executive director of WEF, Klaus Schwab reported about it on the press-conference.

First of all it was proposed to pass all legislative acts, necessary for joining WTO, till the beginning of the summer parliamentary holidays.

The second step is to form subdivisions of specialists at the highest level, directly under the prime minister or the president of Ukraine. The subdivisions are to support foreign investors.

Thirdly, it was proposed to introduce the new procedure of registration of business enterprises on the principle of "single window."

The fourth step provides for abolishing of excess and reserved regulatory acts.

The fifth one is to abolish Economic Code and to pass package reforms on commercial law in order to escape vagueness concerning lawful consequences.

Forum’s participants consider that passing of the law on securities should become the sixth step.

The seventh one – to introduce international standards of accounting and audit.

The eighth step is the reformation of taxation system. In particular, it means to reduce the social taxes by 20%, to reduce the profits tax, to reconsider the VAT, to envisage the compensatory payment for the losses concerning the abolition of free economic zone and to introduce custom taxes.

The ninth step is to improve the management skills and business experience. 

The tenth step is the struggle with corruption by means of formation of "black registers" of companies, which were exposed as bribe takers; designation according to the professional skills without any political context; raise wages for states employees; transparent state purchase and promulgation of authorities’ wages.

Besides, Forum’s participants call the Ukrainian authorities to stop the discussion about originality of the state’s economic development. "Stop the discussion concerning the fact that Ukraine differs from other countries and needs specific Ukrainian decision for every problem," read the recommendations of Roundtable participants.
Schwab reported that these propositions would be delivered to the president of Ukraine, Victor Yushchenko, today.

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