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Zelenskiy’s three major steps

Author : Pavel Fuks

Businessman Pavel Fuks formulated three vital steps for President Volodymyr Zelensky, without taking which it will be difficult to build a long-term strategy for the country
17:27, 24 July 2019

Volodymyr Zelensky
Open source

I’ve formulated three vital steps, without taking which it will be difficult to build a long-term strategy for the country.          

Step 1. We need real energy independence. The oil and gas industry needs support. We are not talking about subsidies, special conditions or other similar mantras, about which corrupt officials like to talk so much. To improve the situation, it is required to simply remove the taxation on the import of mining equipment. Because high tax rates in this case is not national protectionism. In Ukraine, equipment of such quality is not produced. Gas areas are difficult for gas producers. In some cases, you have to drill wells up to 5-6 km! If taxation is removed, then private companies will be able to quickly increase production. And it is also taxes to local budgets. Read, I already wrote about this.

Step 2. We need to open the land market. I read that the President’s team decided in a short time to complete the final formation of the land cadastre. Without it, there will be no land. And then what? 

I do not believe in buying Ukrainian land by foreigners. Firstly, the legislator regulates this. Secondly, Ukrainian companies are ready to compete.

Only the one who does not follow the situation does not see the black land market, the raider seizures of shares, resellers who lure shareholders from one tenant to another. Because of the shadow schemes, the situation in the agrosphere is very tense, and sometimes even criminal. People will receive “live” money from the sale. It is about billions of dollars. This will stimulate other areas of the economy. The open market will change the attitude of farmers towards the problem of land depletion.

Step 3. I offer the President, and then the future prime minister, to consider the possibility of “freezing” payments on foreign debts for at least 20 years. Let’s think straight and without emotion. In 2019, Ukraine will pay creditors about $15 billion. In 2020, another $7 billion. Incredible money for our economy. Imagine that this money is directed to the good of the country! The economy needs a splash: the revival of the labor market, the increase in real incomes of the population, large infrastructure projects. For this, Ukraine must invest in the economy at least $5 billion each year. And, as we see, we have this amount.

Ukraine was promised the Marshall Plan, like Poland in the early 1990s with $17 billion written off (an enormous amount at that time). But the Poles were also allowed to restructure the remaining part of their debts on very favorable terms: payments were reduced by 80%. We are still not credited. Now we are talking about how to break the deadlock on the problem of Donbass. Where to get money for recovery? The President has every reason to put pressure on Western partners. Ukraine has set for itself the European vector of development, it needs support…  I do not believe in half-measures. Only non-trivial solutions can reanimate the country. 

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