Odesa Plan on Ukraine’s Economy Deregulation

Odesa Plan on Ukraine’s Economy Deregulation

Mikheil Saakashvili, governor of Odesa oblast, has introduced a plan created to deregulate the economy of Ukraine and reform civil service to achieve reduction of corruption. Also, such changes are viewed as an opportunity to attract more investments to Ukraine. A new deregulation scheme will be submitted to the Ukrainian National Reform Council within the next two weeks.
Oleksandr Borovik, adviser to Odesa oblast governor, has stated that success of Ukrainian reforms can only be based on free creativity of people. The proposals cover a number of topics, including taxation, water use, civil services, air emission, urban planning, government services, labor law, investment, land use, privatization, customs, and many others. In particular, when we talk about investments, it is proposed to eliminate obligatory registration of foreign investment. Ukrainian customs clearance should be performed within one hour without days off and customs tariffs equalized in regions of Ukraine. Economic Freedom Act (created on the basis of Georgian Act) is another important proposal, which envisages new taxes increase and introduction exclusively upon conduction of referendums, except for 3-year temporary tax increases.

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