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FDI Continues To Grow Every Year

March 21, 2008

In recent years, the index of foreign direct investment (FDI) has grown consistently. In particular, an additional US $7.88 billion in FDI came to Ukraine in 2007, which is 67.1% more than in 2006, Economy Minister Bohdan Danylyshyn announced.

According to the Ministry’s press service, the Minister noted that significant growth of foreign capital was observed during the fiscal year at companies engaged in financial services, which attracted nearly US $2.28 billion; real estate, leasing, engineering and commercial services gained US $782 million; construction companies US $779.4 million. Industrial enterprises attracted nearly US $2.03 million, with the extracting and processing industries gaining US $627.9 million and US $1.39 million.

According to the Minister, analysis of statistics in those areas of Ukraine’s economy that benefited from foreign investments showed that most investments go into industry (27.6%), especially processing (23.5%), and financial services (16.3%). According to Mr. Danylyshyn, in 22.3% of investments the economic activity was not specified.

The Economy Minister noted that this trend improves the competitiveness of domestic enterprises as these investments go to renew fixed assets and introducing new production technologies.

According to Derzhkomstat, the state statistics agency, foreign investors directly invested US $8.71 million into Ukraine’s economy in 2007. 7.3% of total FDI or US $632.9 million came from CIS countries, while 92.7% or US $8077.7 million came from other countries. At the same time, non-residents withdrew nearly US $1.18 million. By comparison with the Russian Federation, FDI into Russia’s economy was more than US $120 billion in 2007, or 2.2 times more than in 2006.

Tags: FDI