23/07 12:00 EBA Press Conference dedicated to the publication of the EBA Report "Overcoming obstacles to business success”

European Business Association is proud to announce the publication of the sixth edition of the Report "Overcoming obstacles to business success”. We are sincerely grateful to all EBA members for their active participation and special contribution to the creation of EBA Report.

23 July 2009 European Business Association conducted a press conference on “The ways of improvement of investment climate in Ukraine”.

Honorable participants of the press conference were:

• Hryhoriy Nemyria, Vice Prime Minister of Ukraine
• Trond Moe, Country Manager and the Head of Telenor's Representative Office in Ukraine, President of the European Business Association
• Anna Derevyanko, Executive Director of the European Business Association.

This year we choose to change the title for our Report as it comes in critical times of financial and political turmoil. “Overcoming Obstacles to Business Success” reveals significant experience and professional insight of the sector-based Committees and Working Groups that vastly contributed to this Report compilation and worked hard to identify and classify issues of major importance to businesses.

Unlike the previous reports, the sixth edition provides not only a range of key issues hindering businesses and investment in Ukraine but updates on current progress in solving problems.

The main objective of the Report is to outline 3-5 top priority measures to be taken under the current economic slowdown to improve business environment for each particular sphere/ industry. Every chapter presents a brief introduction to recent regulatory developments in each particular sphere/industry. The EBA Report aims to display short/mid-tem specific recommendations, goals and plans to be implemented in the nearest future in order to prevent Ukraine’s economy from subsiding.

The examples of urgent questions that European Business Association recommends to solve in order to improve investment climate in Ukraine:

• Customs Valuation;
• Problems with VAT refund;
• Impossibility of protection against unpredictable Currency Exchange Rates;
• Royalty-Related Problems;
• Tax Implications of Currency Exchange Rate Differences.

We are also happy to remark that around 15% of the proposals stated in the EBA 2007 Report, called by Yuliya Tymoshenko, Prime Minister of Ukraine, the basic document for the Government in their work on improving investment climate of the country, were completely implemented and 35% were supported during negotiations with different agencies and certain positive steps have already been made.
 
We truly believe that through publishing “Overcoming Obstacles to Business Success” we will make a noticeable contribution to forming an attractive business environment in Ukraine. We will continue advocating and facilitating the introduction and implementation of relevant reforms to help business grow and expand in Ukraine.

Please, click here to download the EBA Report “Overcoming Obstacles to Business Success”.