Ukraine plans to attract $5 billion in foreign investment: forecast of the Ministry of Economy
The volume of direct foreign investment in Ukraine in 2023 was $4.2 billion, but in 2024 the Ministry of Economy predicts an increase in this indicator by 20%, equal to $5 billion. About this stated Yulia Svyridenko, First Deputy Prime Minister and Minister of Economy.
Svyridenko emphasized that this is an ambitious but achievable goal, provided that reforms are actively implemented and the investment climate is stable. She noted that the main investor remains the Ukrainian business itself, which continues to reinvest funds in its own activities even in the difficult conditions of the war. This trend shows the faith of Ukrainians in their own economy, however, in order to attract foreign partners, clear progress in reforms is needed.
The minister emphasized the importance of improving the regulatory environment for foreign investors. Ukraine is moving in the direction of European integration, and fulfilling obligations to international partners such as the IMF, the World Bank, and the European Commission is critically important.
“This year, we have to fulfill 200 of the 325 indicators that are mandatory on the way to the EU. “Reforms require modernization of legislation, increased transparency and creation of conditions for transparent business operation,” Svyridenko said.
We will remind you that Prime Minister Denys Shmyhal previously noted that, despite the fact that there are no new large investments from German business, as he noted, joint ventures are being created in the field of defense. Also, the European Bank for Reconstruction and Development allocated more than €1.3 billion to support the Ukrainian economy, which demonstrates the long-term interest of international partners in cooperation with Ukraine.
However, there are a number of challenges on the way to realizing this goal. War, economic instability and business risks remain major obstacles to attracting investors. Ukrainian business demonstrates endurance and adaptability, but the involvement of international partners requires additional efforts and security guarantees.
