Ukraine is making every afford to improve the investment climate and create favorable conditions for businesses, President Viktor Yanukovych said at today’s Ukrainian-Jordanian Business Forum in Amman, ForUm learned from the presidential press office.

"During the last two years, Ukraine has been conducting a consistent policy of increasing its attractiveness to foreign investors. An important component of this policy is to try to ensure the stability of the economy in the conditions of global crisis," he said.

The President reminded that in 2010-2011, Ukraine has significantly improved legislation to stimulate foreign investment and loans: the new Tax Code was approved, alterations to the Law "On Investment Activity" were made, the conditions for implementing investment projects by “single window" principle were created.

Viktor Yanukovych noted that as of January 1, 2012, direct investment in Ukraine totaled about $50 billion.

"The Government has approved the Program of Investment and Innovation Activity, which laid the foundation for innovative economic development until 2015," Viktor Yanukovych said, adding that the program includes the measures of state support of investment and innovation projects in basic industries.

One of the priorities of further work of the Government is to improve business conditions, the President said.

"We have focused on improving regulatory policy through the reduction of state intervention in economic activity, and simplification and improvement of the existing regulatory procedures," he stressed.

According to the President, the list of businesses requiring licensing has been reduced by one third, the number of regulatory bodies has been decreased, a comprehensive list of permits and their issuance by "declarative principle" was introduced.

The President also said that foreign investments in Ukraine are not subject to nationalization. “In the event of termination of investment activity, foreign investors are guaranteed to get back their investment in-kind or in the currency of investment without paying a duty," he said.

In addition, Viktor Yanukovych said, there was the Council of Domestic and Foreign Investors created in Ukraine, whose mission is to maintain a constructive dialogue between businesses and the government to stimulate investment and introduce the most up-to-date investment promotion practices.

"The Governments of Ukraine and, I hope, of Jordan would work hard to ensure that both countries’ businessmen were ensured the appropriate conditions to successfully develop mutually beneficial trade and economic cooperation," said Viktor Yanukovych.

He expressed confidence that Ukraine's economy has a wide range of goods and services to offer Jordan. "We will work to increase the share of industrial products in the structure of our exports to your country. In turn, the Ukrainian market is open to imports of major Jordanian goods," he said.

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