How to improve investment climate focus of OSCE workshop in Kiev

KIEV, 22 November 2006 - How to create a business-friendly environment and attract investment through strengthening the rule of law and investment promotion was the focus of a two-day regional workshop in Kiev ending today.

More than 40 government officials from Ukraine, Moldova and Russia as well as international experts attended the workshop, organized by the Office of Co-coordinator of OSCE Economic and Environmental Activities with assistance from the investment agency InvestUkraine. The discussions were based on the recently published OSCE "Best-Practice Guide for a Positive Business and Investment Climate".

"The 'Best-Practice Guide' is a useful tool for ministries of economy, investment promotion agencies and legislators," said Alexey Stukalo, Deputy Co-ordinator of OSCE Economic and Environmental Activities. "It is particularly relevant to participants in this meeting because many of its good examples are from Central and Eastern Europe."

The Belgian Ambassador to Ukraine, Marc Vinck, represented the 2006 Belgian OSCE Chairmanship at the meeting.

"A favourable investment climate, supported by active government policies, can decrease the potential for conflicts and risks for illegal activities," he said.

Victor Ivchenko, Head of the State Agency of Ukraine for Investment and Innovation, said improving the business and investment climate in his country was crucial in its aspirations to integrate into Europe.

"To attract foreign investors, we need innovative models of development and better law enforcement," he said.

Participants exchanged national experiences and discussed best practices in administrative procedures, protection of investors' rights, corporate governance and tax policies. They proposed that the OSCE continue to be involved, for example by supporting investment to the least developed areas and promoting of systems to evaluate Small and Medium-sized Enterprise development programmes. Experts from Ireland, the Czech Republic, Estonia and Lithuania presented successful examples described in the book.

OSCE plans similar workshops in other regions for 2007.