Ukraine ready to conduct five reforms - Yatseniuk to Biden

Ukrainian Prime Minister Arseniy Yatseniuk has told U.S. Vice President Joseph Biden that the country is ready to conduct five essential reforms.

The prime minister said that on behalf of the Ukrainian government he would like to assure the U.S. that the country has further action plan. First, this is deregulation and the decline in the influence of power on economic processes. Second, this is the reform of the Ukrainian tax system and fiscal service. Third, this is fight against corruption in the customs sector, fourth, this is privatization and fifth, this is the introduction of new public companies management standards, he said at a joint briefing with Biden in Kyiv on Monday.

Yatseniuk took national joint-stock company Naftogaz Ukrainy as an example where first in the history of the country independent directors will be appointed. This should be done in all state-owned companies, he said.

The prime minister said that the government is doing its best to attract U.S. investment and privatization is one of the ways to attract them.