Ukraine is going through the golden years with regard to business development, the country makes progress in the Ease of doing business index as well as continues reforms that yield increased interest from investors. President of German-Ukrainian Chamber of Industry and Commcerce Andreas Lier stated in his opening remarks at a meeting of the German business representatives with Prime Minister of Ukraine Volodymyr Groysman. The meeting was held on the eve of the visit of the Head of Government to Germany, one of the main events of which will be the third Ukrainian-German business forum.
Representatives of enterprises, which operate a total market share of over $200 billion attended a meeting in Kyiv.
"We see the greatest Ukraine," Andreas Lier stressed. "Most members of our Chamber commended that this year was one of the best in the last 15 years, which is demonstrated by the improvement of the Ease of doing business index. We see many changes and reforms - deregulation, decentralization, VAT refund without delays. We must recognize the positive transformations that are taking place. And it's important for us to see that the Government of Ukraine is committed to reforms."
"We have not yet unleashed the full the potential that we have,"Volodymyr Groysman emphasized. "We need to continue reforms and changes. At the moment, economy sees considerable growth. And it's essential to establish favorable business environment. Reasonable regulation, public procurement reform, privatization - these things open up opportunities for investment and growth, and as a result new jobs and changes in the country."
The Head of Government placed a special emphasis on the important role of the German business, which, while operating in Ukraine, is moving from the creation of small-scale enterprises to the formation of entire industrial clusters, in which both industrial capacities and scientific capabilities of Ukraine are engaged.
"I am convinced that Ukraine is not only investment destination but also a country which will provide investment returns. And the the creation of common clusters in the industry should be only strengthened," the Prime Minister claimed.
He placed a special emphasis on the fact that the Government is committed to ensuring success of each investment in the economy of Ukraine.
Germany is among the five partner countries of Ukraine in terms of turnover and direct investment. According to the first eight months of the year, bilateral trade turnover grew by 15% - to $5.4 billion dollars. As of July 1, 2018, the volume of investments in total amounted to more than $1.7 billion. Nearly 2,000 German companies are currently operating in Ukraine. During a recent meeting of Prime Minister Volodymyr Groysman and Federal Chancellor of the Federal Republic of Germany Angela Merkel, the parties agreed to increase joint trade turnover to $10 billion.