OREANDA-NEWS. March 11, 2008. The Ukrainian Government will take resolute measures to improve investment climate in Ukraine, Prime Minister Yulia Tymoshenko says. She made this promise, addressing representatives of European Union's business and political circles in Brussels.

As she put it, the Government's Action Program contains "20 initiatives of transparency" aimed at improving Ukrainian business environment. Privatization in Ukraine will continue. The state is interested in the creation of favorable conditions for denationalization of the key branches of industry on the principles of transparency and justice.

The Prime Minister noted that one of the measures will be to ease administrative pressure on business. She pointed out the need for perfection of taxation system, particularly, the functioning system of value added tax refunds. Another priority is to arrange a dialogue between the Government and business.

Yulia Tymoshenko also stated that privatization of most powerful and attractive state-run enterprises must be completed in the coming months. "We will conduct privatization of Ukrtelecom, key chemical and metallurgical enterprises within three or four months," she says.

Meanwhile, privatization rules will be entirely changed. The state will set forth rather serious terms to future company owners, and the winners will be called only in open tenders.

The Prime Minister says she adheres to complete privatization in Ukraine, not considering the state to be an effective company owner. "We need to make the way of denationalization until the end, but on the Government's terms," Tymoshenko underscored.