Foreign investors have started leaving Ukraine not just because of the crisis, but also because of the high level of corruption among Ukrainian officials.
According to Deutsche Welle, since the beginning of the financial crisis, Israeli companies alone have lost around $500 million in Ukrainian market, which has caused a lot of people to give up operating in Ukraine. “The crisis did affect our business in Ukraine, as did the corruption. That is why we are stopping any business initiatives in this country,” one foreign investor said in an interview for Calcalist newspaper. He suggested all his colleagues to follow his example.
Independent economic experts note that though the growth of Ukrainian economy provided high incomes, foreign investors tried to ignore high level of corruption among officials. Today investors are seeking clear and legal investment schemes, but acknowledge that the Ukrainian authorities are not likely to help them in this, experts say.
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