Kyiv, May 21st. Ukraine is ranked 73rd out of 131 countries in the Global Competitiveness Index Rankings.

In course of a round-table debate organized by the Foundation for Effective Governance to discuss Ukraine Economic Development Agenda, the leading experts have determined priority areas for reforms in Ukraine. They cover tax and administrative reform as well as privatization, energy saving and supply, agriculture and land reform, economic laws, and local government reform.

Before I start answering the questions I would like to make a short retrospective journey to the beginnings of the Foundation. Why was the Foundation for Effective Governance created? The Foundation was created to promote economic growth and strengthen the competitiveness of our country.

Only an increase in the nation’s economic productivity can drive Ukraine's sustainable economic development. To reach this objective the country should eliminate all barriers which would prevent both the development of competitiveness and best practices entering the domestic market

In May 2008, the Foundation for Effective Governance in tandem with the World Economic Forum plans to present to the public the final Ukrainian Economic Competitiveness Report

First of all, I would like to thank you sincerely for finding time and making it possible to join us today to learn about our Foundation. I established the Foundation for Effective Governance in January 2007. Today I would like to explain to you why I mean created the Foundation; what goals we have set before ourselves; and what is my role.

So, about the Foundation, its mission, principles, and projects. Mr Akhmetov has said that the Foundation’s target is to help improve the quality of living of all Ukrainians. The Foundation will pursue this goal in two ways. Firstly, by funding long-term projects that are focused on economic development and are practical in nature. Secondly, by initiating and supporting public discussion of important issues for Ukraine’s development.