Rebuilding Ukraine is the most ambitious project of the 21st century, opening up countless business opportunities
Ukraine already has a number of undeniable advantages for investors. Convenient logistics to the west, highly skilled and educated workers, and extensive infrastructure. This was stated by Prime Minister of Ukraine Denys Shmyhal during an online speech at the Clusters Meet Regions conference, which is being held in Košice (Slovak Republic) with the participation of Prime Minister of Slovakia Eduard Heger.
Denys Shmyhal stressed that rebuilding Ukraine was the most ambitious project of the 21st century, requiring huge resources. But at the same time, he said, recovery opened up countless opportunities and prospects. Especially for business, which will be the engine of change.
“Ukraine has been granted the EU candidate status. The Ukrainian and European economies are gradually becoming one. We are interested in cluster cooperation with the EU as a basis for Ukraine’s successful integration into global value chains,” the Prime Minister of Ukraine said.
According to Denys Shmyhal, five sectors are the most promising: energy, defence, agriculture, natural resources, and IT.
“We are building a new economy. We are intensifying public-private partnerships. We have adopted modern legislation so that dozens, and then hundreds of powerful concession projects would emerge in Ukraine,” the Head of Ukrainian Government said.
The Prime Minister of Ukraine added that war risk insurance was a key issue for investors, and the Government of Ukraine was working on solutions. One of them is the creation of a targeted international trust fund, which would allow the G7 export credit agencies, the Multilateral Investment Guarantee Agency (MIGA), and the U.S. DFC to be involved in insurance. The latter, according to Denys Shmyhal, has already announced its readiness to mobilise more than USD 1 billion of private capital to support Ukraine’s economy.
“Ukraine and the EU will be united not only in terms of values and politics, but also economically. Every successful joint investment project brings us closer to our goal. To a strong, successful Ukraine and to a united and diverse Europe,” the Prime Minister of Ukraine summed up.