Ukraine must be "covered" by avalanche of investments, both external and internal – Zelensky

11:40, 04 February 2020
Economy
227 0
REUTERS

Ukrainian President Volodymyr Zelensky has said the reforms currently implemented by the Ukrainian authorities aim at a significant increase in foreign and domestic investment, as Ukraine is becoming a stable and clear market of potentially great opportunities.

Speaking at the Ukrainian-Turkish business forum in Kyiv, Zelensky noted the work undertaken by the two countries to create favorable conditions for business and investment was of great importance. And now, he says, Ukraine is doing the "homework" that citizens and investors have been expecting for almost 20 years, the president's press service reported.

"Today, we are implementing unprecedented reforms as quickly as possible. We work 25 hours a day and eight days a week. The elimination of administrative barriers, the expansion of the rights of economic entities, the digitization of state processes, the introduction of a transparent land market, the large-scale privatization and many other very important reforms are being implemented by us for the sole purpose: Ukraine must be "covered" by an avalanche of investments – both external and internal," the president said.

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Zelensky noted Ukraine was currently demonstrating a positive trend of sustainable economic growth and macroeconomic stability, including an increase in GDP, a decrease in inflation, an increase in international reserves, an increase in the credit rating with a change in the forecast to "stable" and "positive."

"All these are eloquent signals to every current and potential future investor that Ukraine is becoming a stable and clear market of potentially great opportunities. We are one of the few countries that allows you to earn such a high income on invested capital," Zelensky said.

The president also reminded that a transparent land market was being introduced in Ukraine, which would make the country more attractive for investment. "Although foreigners will not be able to buy land, they will be able to invest in agricultural processing," he explained.

Speaking to those who are hesitant about starting a new business or expanding the existing business in Ukraine, Zelensky stressed that the stage of getting oneself acquainted with information, drawing up perspective plans and preparatory work was already behind, and now it was time to act.

"We live in the era of active action. Indecision or short-sightedness create lost opportunities. Don't lose them and invest in Ukraine. Not just in real estate, manufacturing or goods. Invest in Ukrainians, and this will deliver incredible results. I invite everyone to active cooperation in order to jointly create a new success story of our cooperation, cooperation of our countries," the Ukrainian president said.

For his part, President of the Republic of Turkey Recep Tayyip Erdoğan said that Turkey considered the development of bilateral relations with Ukraine and strengthening of trade and economic cooperation very important. He also expressed confidence that today's business forum would provide new opportunities for its participants.

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