U.S. investors ready to invest $1.5 billion in Ukrainian agricultural sector/ Photo from UNIAN
Ukraine's Cabinet of Ministers is holding talks with partners from the United States and Canada on the possibility of setting up farm equipment production in Ukraine, Prime Minister Arseniy Yatsenyuk said when reporting to the parliament on Friday.
Yatsenyuk noted that this would be one of the stages of cooperation of Ukraine with the U.S. and Canada, which would first envisage financing of the purchase of U.S. equipment for Ukrainian farmers.
"The next step, which we are also discussing with our Canadian partners, is the construction of plants in Ukraine for joint production of agricultural machinery with U.S. and Canadian partners," the prime minister said.
According to Yatsenyuk, the production of own agricultural machinery will help Ukraine boost its harvest potential and enhance competitiveness, particularly when it comes to non-resource-related exports.
As UNIAN reported earlier, the Ukrainian Ministry of Agrarian Policy and Food announced that U.S. investors had expressed their readiness at the first U.S.-Ukraine Business Forum in Washington to invest about $1.5 billion in the Ukrainian agricultural sector. In particular, two companies announced plans to invest in port logistics, one company would like to develop seed production in Ukraine, and another one plans to be engaged in food processing, with a total investment of $500 million. In addition, Ukraine expects to attract $1 billion of investment in the form of agricultural machinery from U.S. partners.