Ukrainian President Viktor Yanukovych has approved a 40-point plan for economic reforms during 2013-2014 years, entitled "Prosperous society, competitive economy and effective government", the president's press service reported Friday, according to Xinhua.

The plan sets down goals and timelines for implementing reforms in energy, agriculture, infrastructure and transport, education, international relations and regulatory policy spheres.

In particular, the document provides simplification of issuing permits for businesses, introduction of biometric passports, establishment of economically justified utility tariffs and closer economic cooperation with the European Union and the Customs Union states.

In addition, the new plan involves roadmap for strengthening the country's energy security through privatization of state coal mines and construction of liquefied natural gas terminals.