The Ukrainian economy is open to investment projects with its important trade and economic partner – France. The Government of Ukraine will provide comprehensive support to French investors in the implementation of projects in engineering, transport, electrical equipment, mining, joint research and development, etc. This was announced by First Deputy Prime Minister - Minister of Economy of Ukraine Oleksiy Lyubchenko during a meeting with representatives of MEDEF International, which took place on June 24 in Kyiv.

The meeting was attended by President of the MEDEF Geoffroy Roux de Bézieux, acting Chairman of the State Tax Service of Ukraine Yevhen Oleynikov, Head of the State Service of Ukraine for Food Safety and Consumer ProtectionVladyslava Magaletska, Deputy Chairman of the State Customs Service of Ukraine Serhii Zvyagintsev, representatives of the French business circles.

"The Government of Ukraine is creating a favorable economic climate to attract strategic investors to Ukraine's economy. To this end, the Law of Ukraine “On State Support of Investment Projects with Significant Investments in Ukraine” was recently adopted, and the Government approved a package of bylaws necessary for the practical implementation of the mechanisms of this state support. These are clear messages to international business that we are ready to implement joint projects and will provide support to investors at the state level, " Oleksiy Lyubchenko stated during the meeting.

The Deputy Prime Minister also noted that this law provides support for investors who implement investment projects and create new jobs. The amount of investment should be more than 20 million euros.

"At present, priority groups of industries have been formed in Ukraine for the implementation of investment projects: mechanical engineering, transport, energy, agriculture, food production, light and processing industries. We invite French companies to mutually beneficial cooperation. For our part, we offer acceptable conditions for doing business, a good geographical location for building logistics, labor, markets and comprehensive support from the Government," Oleksiy Lyubchenko stated.

For his part, the President of the MEDEF Association Geoffroy Roux de Bézieux stressed that such meetings make Ukraine better known among French business circles, allow to find common ground, create and develop joint projects. Many French companies are already working closely with Ukrainian companies, but are interested in deepening cooperation, in particular in the implementation of infrastructure projects and are ready to consider options for localization of production in Ukraine.

In general, France ranks sixth in terms of bilateral trade in goods between Ukraine and European countries with a share of almost 5% of the total. In 2020, the volume of bilateral trade in goods between our countries amounted to more than $ 2 billion, of which exports - $ 592 million and imports - almost $ 1.5 billion. In the first 4 months of this year, the volume of bilateral trade in goods increased by almost 16% compared to the same period last year and amounted to $ 855 million. Exports increased by 34.4% and amounted to $ 235.5 million, while imports increased by 10% and amounted to $ 619.7 million.

Background

The Mouvement des entreprises de France (MEDEF),or Movement of Enterprises of France, is the largest federation of employers in France. The organization was established in 1998 and unites more than 750,000 companies. Every year, MEDEF International organizes a number of delegations of French business leaders with specific projects in the targeted countries.