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Deputy Prime Minister Sergiy Tigipko says Ukraine should follow the example of the Baltic states and cut down on bureaucracy. Vice Premier of Ukraine and leader of the Strong Ukraine Party Sergiy Tigipko has said the main problems preventing serious investments being made in the Ukrainian economy are the tax legislation, customs problems, bureaucracy during the procedure for obtaining licenses for construction, and the legal system.

All producers in Ukraine and all investors who want to invest money in the Ukrainian economy names these four obstacles: tax legislation, customs problems, bureaucracy during the procedure for obtaining licenses for construction (up to 475 days on average are needed to execute all documents) and the legal system, Tigipko said during the Svoboda Slova talk show on the ICTV Channel on Monday, the press service of the Strong Ukraine reported.

"If we want to be a successful country, we need not to ignore, but tackle these problems," the party's press service cited Tigipko as saying.

Tigipko noted that the Tax Code is a big step towards the solution of key problems, and added his team is already actively tackling the problem of deregulation in the construction sector.

According to him, the next important priority for the economic part of the government is the Tax Code.

Tigipko also said the number of staff at state bodies should be reduced.

According to Tigipko, his main achievement while working in the government is the adoption of laws needed for Ukraine's integration with Europe, the easing of conditions for business and cuts in controlling agencies.

"Ukraine has made a real breakthrough in the sphere of integration with Europe… Laws on state procurements, on the gas market, on the National Bank of Ukraine, on the single procedure for altering utilities tariffs, and on information protection have been adopted. These are five very important laws that the European Union has expected Ukraine to pass for a long time," Tigipko said.