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Ukraine to set up investment agency around the world

October 7, 2009

The basic aim of this program is to handle 10 major investment projects worth a total of US $7 billion. Agricultural projects are one of the priorities.

The Ukrainian Agency for Foreign Investment and Development (UkrZovnishInvest) prepared a program for the Government that includes engaging foreign capital worth US $12bn starting in 2010 for the implementation of infrastructure projects. These plans were announced by Vladyslav Kaskiv, the Premier’s advisor on foreign investment, at the 9^th International Economic Forum in L’viv.

“The program is based on carrying out 10 major investment projects worth a total of US $7 billion. One of the priority areas will be agricultural projects,” he said. Mr. Kaskiv added that 40 more projects would be selected, which would need another US $5 billion in order to be implemented.

“These will be foreign direct investments. If state guarantees are applied, it will only be as an additional incentive. The projects themselves are expected to be designed to make a profit,” he explained.

According to Mr. Kaskiv, the Cabinet of Ministers plans to issue a resolution on the mechanism for selecting strategic projects within a matter of days. The selected projects will be presented at the National Investment Forum in June 2010.

At the same time, a road show will be held in 42 world financial centers, 7 of them in North and South America and 12 in Europe. Half of the sessions, which are planned to be held over two months, will be organized in 11 cities in Southeastern Asia and in 7 cities in the Middle East, as well as Africa and Australia.

UkrZovnishInvest plans to run a media campaign as well. Ukraine’s potential and opportunities will be promoted in such publications as the Financial Times, The Economist and fDi Magazine. Commercials will also be placed with the BBC, CNN and Euronews.

Part of the program will be to set up investment agencies that will work with investors at the regional level.

Tags: investment