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Monday, February 18, 2008

Innovative laws lift real estate clearness

In light of the fundamental and methodical economic reforms needed in Ukraine, and the continuing sharp increase in foreign and domestic investment, it is imperative to ensure that Ukraine's legal system is equipped to serve as a modern pillar for the economy and society.

The present legal foundation is insufficient and to a large extent, sabotages the development of a market economy in Ukraine. It is ancient, lawless, and at times ridiculous.

The market responds to this state of affairs in a healthy way by avoiding the legal and regulatory regime and corrupt judiciary, while ignoring the more absurd laws and concentrating on developing the best modern business practices.

2008 will be the essential year in terms of the greatly needed reforms and transformation of Ukraine's legal regime and business climate for two main reasons. The business community no longer requirements nor be able to afford to abide obstacles created by the legal disorder and inefficient system of government and second, because the new government will be not capable to stay in power while ignoring the business community's stress.



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