• Українською
  • Both the current and following years for Ukraine are the years of economic recovery and struggle for investments, says Oleksiy Lyubchenko
    Ministry of Economy of Ukraine, posted 15 July 2021 12:14

    Both the current and following years for Ukraine are the years of economic recovery and the struggle for foreign investment. This was stated by First Deputy Prime Minister - Minister of Economy of Ukraine Oleksiy Lyubchenko during the event " Increasing Foreign Direct Investment in Ukraine - Strategic Dialogue" organized by the USAID Competitive Economy Program in Ukraine (USAID CEP), the Office of the National Investment Council, UkraineInvest and Ernst & Young (EY) on July 15.

    "Both the current and following years for Ukraine are years of economic recovery. About 4% of economic growth is expected, price and exchange rate stability will be preserved. And these are quite balanced calculations," Oleksiy Lyubchenko said.

    Regarding the attraction of foreign investments, the Ministry of Economy determined as the main areas of activity the development of international transport corridors, IT sector, investment in critical infrastructure, implementation of advanced developments in hydrogen and green energy sectors and more.

    "We are aware that the struggle for world investment will be fierce. But Ukraine has what to offer foreign investors. Here are a few examples: integration into the European transport network TEN-T can bring Ukraine almost US$ 4.5 billion in investments until 2030, primarily investments in the port industry, air transport, solutions in the IT sector, such as Diia.City, etc.," said the First Deputy Prime Minister of Ukraine.

    Oleksiy Lyubchenko also outlined the state strategy and mechanisms for attracting resources. "A presidential initiative has been adopted - the Law on State Support of Investment Projects with Significant Investments. We will soon finish work on bylaws, which will allow investors to submit documents. We pay great attention to strengthening the legal protection of business, improving legal instruments to combat corruption, corporate raiding - phenomena that cause great damage to the country's investment image and other measures as well," said Oleksiy Lyubchenko.

    But the main thing, according to the First Deputy Prime Minister of Ukraine, is not an investment for the sake of investment, but more general goals: “We must clearly understand our intersectoral balances, growth points that will have a multiplier effect with the least investment, and most importantly, the purpose the economy should develop is to create jobs. Our task is to strategically dispose of the resources that the state will receive. And our main investment is aimed at future development - into human capital and financing of educational programs. This is determined by the core priorities of the financial and economic sector of the Government of Ukraine."

    During the event, the Strategy for Attracting Foreign Direct Investment in Ukraine was presented. The document was developed at the request of the Government of Ukraine by the USAID Competitive Economy Program in Ukraine through Ernst & Young after consultations with the Office of the National Investment Council, the Ministry of Economy, USAID, and the institution implementing investment policy - UkraineInvest.

    Oleksiy Lyubchenko expressed hope that the Strategy for Attracting Foreign Direct Investments would become a guide for further progress and strengthening Ukraine's position in global competition.