• Українською
  • Unity of the free world in the face of a common threat is the key to security and economic growth: Yuliia Svyrydenko
    Ministry of Economy of Ukraine, posted 20 May 2023 15:24

    Ukraine is broadcasting a formula for peace based on universal principles – territorial integrity, international justice, food and energy security. With the support of the free world, respect for the principles of international law and democratic values, Ukraine already has new business opportunities aimed at restoring the country and economic growth.

    This was stated by Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, during the Asian Leadership Conference as part of the Ukrainian delegation’s visit to the Republic of Korea with the participation of First Lady of Ukraine Olena Zelenska.

    “Despite the ongoing war, all sectors of the Ukrainian economy are working, generating thousands of projects and investment opportunities for Ukrainian and international businesses. We urge international companies to come to Ukraine without waiting for the war to end and invest in Ukraine’s recovery projects: housing, renewable energy, agriculture, transport and hundreds of other projects that are available on the Advantage Ukraine platform. Our goal is to create a safe environment for people to live comfortably and for business to develop in Ukraine,” said Yuliia Svyrydenko.

    Ukraine’s reconstruction has two parts: immediate assistance to restore destroyed infrastructure and housing, and post-war reconstruction. According to the World Bank, Ukraine’s reconstruction needs already exceed USD 400 billion, while the Ministry of Economy estimates that the financing of development projects exceeds USD 500 billion. In 2023, however, Ukraine will need USD 14 billion for rapid recovery.

    The Ukrainian government is working to accelerate demining, restore energy and housing infrastructure, and develop an effective investment risk insurance mechanism to create a favourable business climate in the country.

    During its visit to the Republic of Korea, the Ukrainian delegation has already signed a preliminary agreement with the Korean Government on obtaining loans on favourable terms from the Economic Development Cooperation Fund (EDCF).

    Korean companies are interested in investing in sectors such as electricity and hydrogen, energy equipment, green metallurgy, logistics, lithium and battery production, electric cars and urban transport. In addition, the Korea-Ukraine Association of Trade and Industries (KUATI) has prepared a programme of immediate support for public sector enterprises in Ukraine. In particular, TYM, a leading tractor manufacturer, has already decided to donate 14 sets of heavy agricultural machinery to Ukraine as technical assistance.

    Moreover, the Korean Government is considering increasing its support for humanitarian demining, including the provision of more specialised equipment. It is expected that this issue will be resolved in the near future.

    “Despite the war, Ukrainian businesses continue to operate and develop. Despite the logistical challenges, we continue to trade internationally. All this is a natural part of our resistance. We want not only to preserve the economy, but also to develop it, and our ambition is to rebuild the country today,” emphasised Yuliia Svyrydenko.