Ukraine’s major investor is Cyprus, that is, the off-shore companies owned by Ukrainian tycoons. They operate under a very simple procedure – get access to the state budget and funnel profits back to the off-shores without paying taxes, Viktor Chumak, deputy head of Rada committee to prevent corruption, said speaking in a talk show at ZIK TV late July 19.
Meanwhile, true investors willing to come to Ukraine are stopped in their efforts by greedy Ukrainian officials.
Foreign investors are reluctant to come to Ukraine because they have no guarantees of their property safety and unbiased courts, Chumak said.
If we want to make Ukraine attractive for investors, there must be a level playing field for both domestic and foreign businesses, Viktor Chumak summed up.