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  • Ministry of Economy: French businesses willing to invest in Ukraine's recovery
    Ministry of Economy of Ukraine, posted 14 March 2024 18:30

    Priority objectives for the development of the Ukrainian economy, mechanisms for stimulating investment and prospects for increasing the presence of French business in Ukraine. These and other issues were raised during a meeting between Deputy Minister of Economy of Ukraine Oleksiy Sobolev and Director General for Globalisation, Culture, Education and International Development at the French Ministry for Europe and Foreign Affairs Aurélien Lechevallier and Ambassador of France to Ukraine Gael Vessier.

    During the meeting, Deputy Minister of Economy Oleksiy Sobolev presented 11 priority tasks for the development of Ukraine's economy. These include finding a mechanism to confiscate frozen russian assets and use them to support Ukraine's economy, increasing export opportunities, including through the development of ship insurance programmes. The key tasks also involve increased localisation of domestic production, which will contribute to the growth of economic resilience and tax revenues, development of the defence industry, and the build-up of energy generating capacities destroyed by missile attacks.

    The parties also discussed the issues of attracting investment in the recovery and development of Ukraine as well as war risk insurance. The French side expressed its interest in working together on programmes to encourage the return and retraining of temporarily displaced persons, as well as in increasing the presence of its business in Ukraine, particularly in the energy sector, extraction of critical minerals, and willingness to support measures to insure French companies' exports to Ukraine.

    In addition, Ukraine and France are currently discussing the creation of a special fund to stimulate investment and establish cooperation with the French Development Agency (Agence Française de Développement (AFD).