The Cabinet of Ministers has identified key sectors of the economy for investment
Yulia Svyrydenko reveals plans to attract investment in priority sectors
First Vice Prime Minister of Ukraine, Head of the Ministry of Economy Yulia Svyrydenko, said that the government has identified several sectors of the economy that are considered key to attracting investment and further GDP growth.
"The government, together with the private sector, has identified several sectors that, in our opinion, should give the greatest increase in GDP growth. We are talking about specific projects involving private investors in sectors such as energy, agriculture, manufacturing, transportation, logistics, IT and critical materials", she said.
Svyridenko emphasized that the war has not become an obstacle to investment, and Ukraine has successfully proved this over the past two years. She noted that the government has a number of tools to support both small and medium-sized businesses and large manufacturers. As an example, she cited the UAH 45 billion that the Cabinet of Ministers has allocated to support manufacturers as part of the Made in Ukraine economic policy.
To attract foreign investors, the government offers war risk insurance infrastructure, industrial parks and tax benefits for their use, as well as support for projects with significant investments of more than €12 million, with the possibility of compensation of up to 30% of the investment amount.
"Another important component is the investment component of the Ukraine Facility – Ukraine Investment Framework program, which will attract up to €40 billion in public and private investment", Svyrydenko added.
The Made in Ukraine program was announced by President, Volodymyr Zelenskyy, in February as a cashback initiative to support entrepreneurs by returning part of the funds from the purchase of domestic goods and services. In March, the first 'Made in Ukraine' office was opened in Sumy to support micro and small businesses, where entrepreneurs can get advice on how to participate in government programs.