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Yushchenko: Government Must Be Clear On Privatization

14 June 2005 -- Ukrainian President Viktor Yushchenko today called on his government to take a clear stand on privatization, including plans to review past deals that now seem questionable.

Yushchenko said a clear policy was needed to restore confidence to businessmen in Ukraine and help attract foreign investment.

At the same time, Yushchenko urged Ukrainian lawmakers to approve a memorandum that safeguards ownership rights, a move aimed at reducing concerns about the renationalization of companies already privatized.

Yushchenko said there would be a review of some business deals made under former President Leonid Kuchma where it is suspected that state assets were sold at below-market prices to insiders.

Yushchenko's comments came before hundreds of business and political leaders were expected in Ukraine for a special roundtable organized by the World Economic Forum.