• 14/07/2024 09:42

$1.7 billion of investments during the great war: what foreign companies are investing in in Ukraine

International investment in Ukraine increased from $0.5 billion in 2022 to $1.2 billion in 2023. This was stated by the head of the KSE Institute, Natalya Shapoval, during the first Ukraine Business Compact (UBC) Workshop – an event designed for interaction between the state and business from around the world, which contributes to the restoration of Ukraine.

$1.7 billion of investments during the great war: what do foreign companies invest in in Ukraine

Read telegram channel “Ministry of Finance”: top financial news

Natalia Shapoval also noted that during the full-scale invasion of Ukraine, 43 global companies invested, including:

    Bayer ($65 million), Carlsberg ($40 million), CEMARK, part of the CRH group of companies ( $30 million).

Another 12 companies announced investments in Ukraine – in particular, Baykar, which produces Bayraktar TB2 drones. In September 2023, the Turkish company announced that it was ready to invest $100 million in a plant, service center and headquarters in Kyiv.

Construction of the plant has already begun in February 2024 and is expected to last 12 months. As noted in the company, Ukraine is considered as a long-term, strategic partner, and not just a sales market.

Also in 2023, CRH, the leading manufacturer of building materials in the world, signed a mandate letter with the European Bank for Reconstruction and Development regarding joint acquisition of assets of the Italian company Buzzi in Ukraine.

Today, foreign companies invest most in projects in the field of IT, defense and agribusiness.

As Deputy Minister of Economy Vladimir Kuzio noted, mechanisms to support investors and mitigate investment risks are currently being developed in Ukraine.

< p>The government cooperates with international organizations and export credit agencies, and the Ministry of Economy is developing an investment attraction agency.

“We are working to expand the war risk insurance infrastructure launched last year. This year we have reserved funds to support significant investment projects and the development of industrial parks.

The second direction of our work is aimed at attracting investments through international financial institutions and development finance institutions. In addition, we expect deepening cooperation with the international business community by involving Ukrainian businesses in global production and supply chains. I believe that UBC will become a bridge uniting the efforts of government and business,” said Kuzio.

The Ministry of Economy has identified five key sectors with investment opportunities of $292 billion:

    energy, transport and logistics , agriculture, “green” metallurgy, critical materials

The priority of these industries is that they make a significant contribution to the Ukrainian economy, have global growth potential, and also need to replace destroyed capacities.

minfin.com.ua

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