Dynamic processes in Ukraine's economy and reforms that the country is undergoing before membership in the European Union open up new opportunities for European business. The EU is ready to help European investors move into Ukraine, as a result of current investments in Ukraine and investments in developments and the stability of all European economics.
Extended European Commissioner Marta Kos announced this today at a press conference in Brussels as part of the Ukraine-EU business forum, reports an Ukrinform correspondent.
“There is no longer any shortage of food, – invest in Ukraine or not. And food – what should you invest, then at the same time for the right time. The economy of Ukraine is developing, Ukrainian institutions reformed and undergo adaptation to EU standards. This means that all European companies can benefit from entering this market even before Ukraine becomes a member of the EU… Also, my message to the European business Today it is like this: Ukraine is open for business, and we are ready to help you achieve this as quickly as possible,” said the representative of the European Commission.
Vaughn noted that the European Commission recently issued a call to European companies expressing interest in investing in Ukraine and contributing to European business the recuperation has changed. The greatest “appetite” for European business is in such sectors as defense, energy and new technologies, infrastructure and digital transformation.
According to Kos, the integration of Ukraine into the European Union is no longer as expected; it is already in progress. Ukraine is integrating into the EU single market in “real time” mode – in energy, in the digital sphere, in the transport sector and in industrial standards.
“The trajectory is obvious. Piece by piece, Ukraine is becoming part of the world’s largest and most stable economic bloc, which is the market of the European Union,” said the European Commissioner.
Vaughn guessed that EU assistance for Ukraine rests on serious resources. The Ukrainian investment framework within the Ukrainian Fund in the EU surplus budget for 2024-2027 is expected to cost 9.3 billion euros, which may receive, at least, 40 billion euros The euro of sovereign and private investments over the next three years.
Such activity, in the words of the representative of the European Commission, is not beneficial, but an investment in the future, and not depriving Ukraine, or the whole of Europe. We are talking about the functioning of schools, roads, ports, wind energy farms and other infrastructure that will allow Ukraine not only to rebuild after the war, but also to meet EU standards. fully integrate into the European network of production of the given product.
“Today I am proud to announce that with Prime Minister Shmigal we are beginning to strengthen the partnership between the EU and Ukraine, creating a high-level platform for mobilization “The European private sector, which will provide the opportunity to generate capital, innovation and evidence from the EU for the long-term needs of Ukraine,” Kos said.
In these words, the new structure is more concentrated in three key directions.
The first is the promotion of reforms to improve the investment environment, in order to make Ukraine more profitable for European investors. This transfers, at the same time, the continuation of sectoral integration of Ukraine into the EU Single Market through trade areas and other instruments to the European Union.
Another direction is to unlock the full potential of the investment framework within the Ukrainian Fund, limiting the use of financial instruments to provide guarantees and reduce risks for private investors in order to gain inflow of capital to Ukraine. This, in its turn, supports small and medium-sized businesses in Ukraine, especially those that suffered as a result of the war, since such businesses themselves are the “driver” for the renewal of the entire region.
“Thirdly, we decided to actively promote Ukraine as an attractive avenue for investment, especially in strategic sectors, which are not uncommon for Ukraine, and also for the EU. We talk about defense, green energy, infrastructure and technology. This platform can support Ukrainian and European business, at forums such as this business summit, or the upcoming conference on the renewal of Ukraine,” said the representative of the European Commission.
“The renewal of Ukraine is not just about concrete and steel. This is about the awakening of the future, that Ukraine is strong, democratic and possible and is not only a neighbor, but also a fully integrated partner of the European Union. Also investors, innovators and entrepreneurs – this is your moment. By investing in Ukraine, you are also investing in future Europe,” Kos said.
As has already been reported, the Ukraine-EU business summit is taking place in Brussels today, bringing together politicians, representatives of industry and private business in Europe and Ukraine.
First photo: Anže Petkovšek