Each invested euro, each technology, each idea is a contribution to the common future of Ukraine and the EU
Іnvestment in the Ukrainian economy is an important factor in supporting our country and strategic benefits for foreign businesses. Prime Minister of Ukraine Denys Shmyhal emphasised this during the VII Ukrainian-German Business Forum, which is taking place in Berlin on 11 December with the participation of German Chancellor Olaf Scholz.
"For Germany and for the whole of Europe, Ukraine is a field of great opportunities. This is a mutual development. When German businesses invest in our economy, they receive not only profits but also strategic benefits in key sectors," said Denys Shmyhal.
One of them is critical raw materials. According to the Prime Minister, Ukraine has the potential to meet the demand of German companies for metals and valuable rare earth elements necessary for the development of production. This, in turn, will also contribute to the growth of the German economy.
"We can be a part of the industrial chains with the European Union - mining, processing and supply," the Prime Minister said.
Another strategic area of cooperation, according to Denys Shmyhal, is security and defence. He emphasised that the capacity of the Ukrainian defence industry is growing and is expected to reach about USD 30 billion by 2025. Today, our country has the largest number of joint ventures in the defence sector with Germany.
"This area has extremely broad prospects. Our defence industry includes 800 enterprises, more than 300,000 employees, production sites, highly qualified specialists, and the ability to produce an extremely wide range of weapons. All of this will work for our common security," the Head of the Ukrainian Government stressed, adding that the Ukrainian army, which is already fighting in accordance with NATO standards, is now covering the eastern flank of Europe and will continue to do so in the future.
According to Denys Shmyhal, the digital technology and cyber defence sector is also a promising area. He emphasised that Ukraine is a leader in building a digital infrastructure for public services, and one of the world's best GovTech products is the Ukrainian Diia, which offers more than 150 services.
"We have vast experience in building a 21st century digital state. We are willing to share it with our German partners," the Prime Minister said.
According to him, the IT sector is one of the key drivers of the national economy, and there are plans to increase the share of innovative products in the country's GDP to 15-20%.
Denys Shmyhal called food security a major issue not only for Europe but also for the world.
"The Ukrainian agricultural sector is not a threat to Germany and Europe. On the contrary, it opens up new opportunities. We already feed 400 million people worldwide, and we will reach more than 600 million. This guarantees food security in risky regions of Africa and Southeast Asia. We will help reduce migration pressure on Europe and contribute to social stability in Germany and the rest of the European Union," the Prime Minister stressed.
Denys Shmyhal stressed that support for the energy sector is of great importance for Ukraine. He thanked the German Government for its leadership in supporting the energy sector and noted that after the end of the war, Ukraine has every opportunity to become a major energy hub.
"We have a huge potential for the development of nuclear generation and renewable energy sources, thus helping the EU to get rid of its dependence on russian hydrocarbons. We have a special potential for biomethane production - about 10 billion cubic metres per year. We have the largest underground gas storage facilities in Europe with a capacity of more than 30 billion cubic metres, which should become the ‘gas safe of Europe'," the Prime Minister stressed.
The logistics area of cooperation is among the strategic ones, the Head of the Ukrainian Government stressed and added that Ukraine and the EU can create a single logistics space, ensuring fast and unimpeded movement of people and goods.
Denys Shmyhal called the restoration of Ukraine an ambitious project of pan-European scale, with a key role for private businesses. According to him, investments are needed to rebuild housing, energy and transport infrastructure.
"Anyone who invests in Ukraine today is investing in a future EU member state. These words of Chancellor Olaf Scholz clearly emphasise the main advantage for potential investors. Ukraine will become a new production site, arsenal, energy hub for the EU and will take an important place in the added value chains of new technologies," the Prime Minister stressed.
The Prime Minister assures that each euro invested, each technology, each idea is a contribution to the common future of Ukraine and the European Union for decades to come.