Denys Shmyhal presents the benefits of investing in Ukraine during a meeting with American businesses in Washington

Prime Minister Denys Shmyhal met with representatives of American businesses to outline the key benefits of investing in Ukraine. The event took place on 23 April in Washington, DC.

"Investments in Ukraine are investments in a future member of the European Union," he said. Denys Shmyhal stressed that Ukraine had begun accession negotiations with the EU and was seeking to complete this process in two years, while at the same time integrating into the EU's Internal Market and implementing European directives to synchronise legislation.

The Prime Minister has emphasised that Ukraine proves a unique opportunity for international businesses with a production hub with competitive prices for exporting products to the EU and global markets created, and a large-scale investment space formed to invest in the country's recovery.

He stressed that the Government was actively working to create favourable conditions for the development of production and technology business. In particular, 100 industrial parks have been opened with regulatory and tax benefits, the state compensates up to 30% of the cost of large projects, and provides risk insurance. Special attention is paid to technology companies: the unique Diia.City regime with the lowest taxes in Europe promotes the development of the industry.

"The reconstruction of Ukraine will be the largest economic project in Europe in recent generations. The World Bank estimates the total recovery needs at more than USD 500 billion. And this is a market for projects that will be available to the private sector for implementation," said Denys Shmyhal while adding that the main areas are housing, energy grid, roads, ports, and engineering infrastructure.

The Prime Minister also stressed that the frozen russian assets could be the main resource for recovery.

"About USD 300 billion of russian assets have been seized in the West. The G7 countries have already launched the ERA mechanism, which provides for the use of profits from frozen russian assets. This is USD 50 billion for Ukraine. The second step is the complete confiscation of russian assets,’ Denys Shmyhal said, adding that a tax on the export of russian energy and raw materials should also be introduced to cover the part of the recovery needs not covered by frozen russian assets.

The Prime Minister thanked the companies that continue to operate in Ukraine and those that have entered the Ukrainian market. According to him, almost a hundred new US companies appeared in Ukraine last year, and the number of international companies already present in the Ukrainian market and planning to continue investing despite the war has increased to 70% in 2024.

"We are grateful to every business that operates and invests in Ukraine, creates production facilities and jobs. We appreciate everyone's contribution to our sustainability and development," said Denys Shmyhal.