OREANDA-NEWS. June 01, 2010. Fight against corruption and red tape and implementation of reforms are a keystone to long-term growth of Ukraine's economy. SCM's Director of International and Investor Relations Jock Mendoza-Wilson said that at the Sixth Annual Ukrainian Investment Summit organized as a part of Adam Smith Conferences.

Mr Mendoza-Wilson also addressed the issues of raising foreign and domestic investment in the Ukrainian economy. The priorities for the Ukrainian government, in his view, include reforms in the energy, banking and agriculture, revision of the tax code and VAT repayment system, changes in the regulatory framework and a consistent fight against corruption and red-tape.

SCM became a partner of the Sixth Annual Ukrainian Investment Summit, because the company, as the biggest national investor, is interested in improving the investment appeal of Ukraine, in particular for the global investment community. 

Jock Mendoza-Wilson, SCM's Director of International and Investor Relations, delivered a speech Investment Climate, and said: "Being the biggest national investor, SCM strongly believes that the Ukrainian economy has a huge potential for growth. We are confident that the international investment community will appraise the competitive advantages of Ukraine by right, provided, obviously, that the proper and so badly needed reforms take place.

The summit that took place on 17-19 May in Royal Lancaster Hotel London is one of the biggest forums on investment and business in Ukraine. The event was attended by more than 400 delegates including businessmen, government officials and Ukrainian and international investors. In particular, Ukraine's political elite was represented by Anatoliy Maksyuta, First Deputy Minister of Economy; Mykyta Konstantinov, Deputy Minister of Fuel and Energy; and Volodymyr Ignashchenko, First Deputy Minister of Enviromental Protection. They spoke about the key macroeconomic and financial priorities of the new government.  The Summit also attracted more than 150 big businesses operating in different sectors of economy and industry: oil and gas, banking, infrastructure, retail, energy, agriculture, mass consumer goods, mining and metals, real estate, transportation, media and IT. The businessmen shared the principles of their investment programmes and their views on business development outlooks in Ukraine.