Economy ministry: German businesses to be involved in Ukraine’s reconstruction

The relevant statement was made by Ukrainian Economy Deputy Minister Oleksandr Gryban during the conference ‘Prospects of Ukraine as a Place for Investment and Business’, which was held with the participation of German Vice Chancellor, Federal Minister for Economic Affairs and Climate Action Robert Habeck, an Ukrinform correspondent reports, referring to the Ukrainian Economy Ministry.

“We are currently holding a series of meetings with businesses and presenting Ukraine and its economic potential to our partners, whom we want to involve in the country’s reconstruction. This time the following topics have been discussed: financing, insurance of war risks, details of doing business in Ukraine, and the possibility of attracting German businesses to increase the added value in the GDP structure, through the establishment of various production facilities within our country with the help of foreign investments,” Gryban told.

In his words, the German government was one of the first to introduce a war risk insurance mechanism for German investors and trading companies. This mechanism, which is already used by many companies, is implemented through the German branch of PricewaterhouseCoopers.

In the course of the meeting, Gryban and Habeck discussed the current issues of German-Ukrainian economic cooperation.

“Despite the war, German businesses do not stop working in Ukraine. Companies pay taxes, support Ukrainian employees and show the high standards of transparency. Some enterprises, such as Bayer, for example, are already implementing projects to expand production, thereby demonstrating investment confidence in Ukraine. This should become an example for other investors,” Gryban noted.

German businesses have been invited to invest even more in Ukraine, without waiting for the end of the war. After all, right now there are opportunities to reserve the most promising investment projects.

A reminder that Ukraine’s reconstruction is the most ambitious project of the 21st century, which requires huge resources, and at the same time opens up new investment opportunities. According to the data from the World Bank, Ukraine’s reconstruction needs are estimated at USD 411 billion.

Photo: Ukrainian Economy Ministry