PM: Ukraine’s unfulfilled investment potential is $63 billion

PM: Ukraine’s unfulfilled investment potential is $63 billion

For the years of independence, Ukraine's unfulfilled investment potential has reached $63 billion.

"Ukraine's investment potential is $63 billion. Our region is quite attractive for investment in general, but tens of billions of dollars in investment have gone past Ukraine over the past 30 years," Prime Minister of Ukraine Denys Shmyhal said during the presentation of the country's economic audit and vectors of economic development until 2030, an Ukrinform correspondent reports.

Last year, the amount of foreign direct investment in Ukraine was five times less than private transfers of Ukrainians working abroad, Shmyhal noted.

"We need to raise Ukraine's attractiveness to foreign investors," he said.

The Prime Minister also added that Ukraine had significant untapped potential in trade.

"And down by $407 billion in our international trade and transit potential. We are losing such huge funds even with the existing trade structure and already concluded trade and economic agreements," Shmyhal said.

As the Prime Minister noted, there is an opportunity to increase export of goods to East, Africa, and Latin America by supporting exports and trade diplomacy. The Ministry of Strategic Industries was given a task to reach $1 billion in new export contracts for Ukrainian producers next year. According to Shmyhal, Ukraine has the potential in all high-tech production sectors that can be revealed: space production, mechanical engineering and a number of other industries.


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2021 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period: