Rada gives Ukraine entrepreneurs lavish Xmas present - Korolevska

December15200921:47

Verkhovna Rada has given a welcome present to Ukraine entrepreneurs and a bad one to corrupt officials, says head of VR committee for industrial and regulatory policy and entrepreneurship Natalia Korolevska, commenting on the new law which simplifies procedures for running a business.

The new law deals with several burning aspects of business activity. It reduces the size of a minimum statutory fund, cuts the number of licensed kinds of activities, extends terms of validity of licenses. The law introduces the so-called “silent approval” principle which will cut the red-tape dramatically. Corrupt officials will be no longer able to demand bribes for the issue of licenses, Korolevska stressed.

The law will significantly improve a business environment in Ukraine and will give more motivation to small and medium-sized businesses.

Korolevska expressed hope that Pres Yushchenko will sign the bill into law. If enacted, the law will democratize the relationship between business and executive.

The bill was approved by VR Dec. 15, with 342 lawmakers voting for it.

Comments

19:4916.12.09 Peter
- Yushchenko is a caretaker President he should not be vetoing any bills or may any decrees without the consent of all parliamentary factions