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Modernization of Ukraninian energy sector requires investor
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12 May 2010
Ukraine does not have enough financial and technological capabilities to independently implement new projects in energy sector. And therefore Government hopes to attract foreign investors to work together in those fields. "Ukraine is interested in implementing effective programs for international cooperation in the energy sector, facilitating development of the industry and construction of cost-effective models", - said Minister of Fuel and Energy Yuriy Boyko.
According to Mr. Boyko, there are many promising projects in energy, oil and gas sector, nuclear power, which may be considered in cooperation with international partners in order to attract investments to Ukraine and develop those industries. Therefore “Ukraine is a country with great opportunities in energy. We ready to engage in mutually beneficial partnership for all participants in joint projects. "We have strategic interest of our country in transit of energy, generation and development of the resource base" - summered the Minister.
To change perception of Ukraine by international business community and really improve the situation in the country - Ukrainian authorities should resolve problem with VAT refund, liberalize regulation of currency market, simplify customs procedures, conduct judicial and land reforms, develop a clear mechanism for obtaining new licenses, and the most crucial – to reduce corruption in the country.
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