Ukraine Election Commission Officially Confirms New President
The news has emerged that the Central Election Commission of Ukraine has studied the vote and officially declared Victor Yanukovych the winner of the presidential elections, despite an attempted appeal by opponent Yulia Tymoshenko.
Online, February 15, 2010 (Newswire.com) - The committee has unequivocally rejected her complaints, and this swift action is likely to stabilise the countries political system.
Tymoshenko has argued against the result, but international observers have called the poll an "impressive display of democracy". Both Barack Obama and Gordon Brown have congratulated Yanukovych on his win. This, alongside the Central Election Commission's endorsement of the result and rejection of any calls of fraud, means the appeal is unlikely to go anywhere. The new president will assume his post in one month, with his supporters gathering to celebrate. They are calling it the final farewell to the Orange Revolution, the 2004 elections which were bitterly fought over accusations of vote rigging. In this case observers from the Organisation for Security and Co-operation in Europe (OSCE) were blunt in saying the poll was transparent and unbiased.
Investment markets in countries with closely-fought elections tend to act jittery in the run up to the poll, as analysts weigh up the respective economic policies of the opponents. Confirmation of the result means the markets can study the policies of the winning candidate and resume stability, helping inward investment.
The new president, Yanukovych, has a number of policies likely to delight investors in Ukraine. He wants to cut the VAT rate to 17% by 2011 from 20%, and also cut corporate tax rates to 19% from 25%. He is also pushing for banks to offer mortgages with no more than 7% interest rates. As well as this, his relationship with Russia means he is able to negotiate better energy pricing deals, and is intending to develop more power stations to further boost Ukraine's energy security. These improved relations with Moscow will also help relieve tensions between the countries which became apparent under the previous president.
These pro-business policies could help boost significant growth in Ukraine, and show that the new president is serious about turning Ukraine in a business contender on the world stage. The conclusion of the elections means that this can begin.
Ukraine's strongest industry has always been its agricultural potential, as the "bread-basket" of Europe. Investors into Ukrainian agriculture are likely to enjoy the benefits of the new political system, as well as the general worldwide surge in agricultural demand.
One company offering entry into the agricultural market in the country is Aston Lloyd, whose managing director Michael Lucas believes now is the time to take advantage of its potential.
"Ukraine has long been seen as a hotspot for what is set to become the boom market of the next decade, agricultural commodities. Political stability and pro-business tax policies will only add to the attraction of this investment."
Through Aston Lloyd investors are able to generate high returns by developing under-used land and pushing crop yields up in the country, receiving an annual return on the profit from the harvest, as well as capital growth on the increasing value of the land. For further information click here for an instant download of the current project brochure: http://www.astonlloyd.co.uk/ukrainebrochure-sp/