The real sector and the economy as a whole are interested in Ukraine’s entering top 100 Doing Business ranking, chairman of the management board of Raiffeisen Bank Aval Volodymyr Lavrenchuk told a round table, ForUm correspondent reports. According to him, the President gave the appropriate instruction to executive power for certain reason. "For that, business should be protected from hostile actions. Unfortunately, protection of investors is insufficient," the banker said.
According to him, the loan portfolio today neither declines, nor grows, and without that the economic recovery is impossible. "This is reasoned by shortcomings of tax and licensing system. No, these systems are unfavorable against European background, it is possible to do business in Ukraine.- the financier said. - Why, then, the banks are so careful? The fact is that since 2009 we have big problems with the return of loans, and it soon led to a tightening of requirements for borrowers".
"To change the situation, we should better protect the rights of creditors, especially since there are new forms of violation. Recently, we have faced with a claim not even from the borrower, but from foreign legal entities about the potential loss of benefits from the loan. And we lost the case, and lost credit and collateral, and now must also pay compensation for lost profits. This case sets a dangerous precedent for the market and for investors. Again, the main problem of the national investment climate is in the legal protection of investments," the expert concluded.
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