OREANDA-NEWS. September 22, 2010. Prime Minister of Ukraine Mykola Azarov encouraged Singaporean businessmen to invest in the Ukrainian economy. The Head of the Government of Ukraine said this at a meeting with Minister Mentor of Singapore Lee Kuan Yew.

According to him, the new power does everything to create in Ukraine the most liberal tax system and a favorable investment climate: "Our plan is to build a liberal, transparent tax system to create an attractive investment climate".

In particular, the Prime Minister has said that the Ukrainian Government is actively working on deregulation of business and investment climate.

Moreover, Mykola Azarov has said that Ukrainian banking legislation protects investment that foreign companies invest in the Ukrainian economy: "We have absolutely liberal banking legislation, which allows investors not only to invest funds but also remove them if necessary. Investors have nothing to fear, they can work safely in Ukraine".

He invited businessmen from Singapore to work in Ukraine. "We look forward to your visit, which will allow Singaporean investors to better understand our country", Mykola Azarov said, addressing to Minister Mentor of Singapore Lee Kuan Yew.

The Head of the Government has noted that our state is especially interested in cooperation in new technology. Thus, according to the Prime Minister, the Government plans within the next decade to implement six large-scale national projects in new technology: "Through these projects, great advantages will be offered to companies".

In turn, Minister Mentor of Singapore Lee Kuan Yew said that the purpose of his visit to Ukraine was to expand trade and economic relations and establish business contacts.

He has stressed that investment flows primarily requires political stability, "because any conflict, any tension deters investors". "Stability and confidence within the country is necessary to achieve good results", said the Minister Mentor.

"The main thing is to provide such conditions for investors so that companies come to the country and are confident in the future. Always works the rule: if at least one company has achieved success and prosperity in a country, then that will attract other companies", he said.

According to the Minister Mentor, Ukraine has a very large production capacity and highly educated population: "In Soviet times, you were ahead of many countries on scientific and technological achievements. This is a potential for which one can expect in the future".

According to Lee Kuan Yew, now Ukraine needs investment from developed Western countries, which could provide advanced technology and modern methods of management, which will help Ukraine develop its own methods.