The reform of the country's banking system is the first priority for Ukraine, Natalia Izosimova, the Director of Rinat Akhmetov's Foundation for Effective Governance has said in an article published in the Dzerkalo Tyzhnia (Mirror Weekly) newspaper.
According to her, the National Bank of Ukraine, together with the government, has to elaborate a plan for the future financial system of Ukraine, which must be based on several big banks or should have a large number of medium-sized banks.
"Proceeding from the first or the second options, the next steps must be taken towards reforming the banking sector," Izosimova said.
The second and the third priorities are the adoption of a National Code and simplification of the regulatory environment for business, the expert said.
The fourth priority is to reform the agricultural land market, in particular to cancel a moratorium on purchase and sale of agricultural land.
"Land can’t be used for deposits because of the current moratorium, that’s why opportunities to receive credits are too limited for agricultural producers," the expert said.
The fifth priority is to create an institute of state and private partnership. In this way, large-scale infrastructure projects could be implemented to develop metallurgy, the construction sector, and the sphere of services and create new jobs in the near future.
According to Izosimova, the sixth priority is to improve the bankruptcy procedure and the seventh is to reform the state structure.
‘The efficiency of these reforms directly depends on the efficiency of work and professionalism of the state service. We should say that the adoption of the laws in the parliament must guarantee the realization of these laws in practice," Izosimova said.
She also added that these reforms could be implemented during 2010, moreover, their realization doesn’t require significant resources.
