The Economy Minister says such an ambitious goal can be achieved through the privatization of large state-owned enterprises / Photo from UNIAN
Economic Development Minister Aivaras Abromavicius announces that the Ukrainian Ministry of Economic Development and Trade plans to raise $5 billion in foreign direct investment next year.
"We expect and set a task to attract at least three major foreign investors into our country and create together the country's investment climate. In general, we project we'll attract $5 billion in foreign direct investment," the minister said while reporting on the government's performance.
Such an ambitious goal can be achieved through the privatization of large state-owned enterprises, and entry into force of the economic part of the Association Agreement, according to the minister.
As of October 1, 2015, foreign direct investment in Ukraine (non-residents' share capital) amounted to $43.949 billion, which is lower by 3.95%, or $1.807 billion, against $45.756 billion as of the beginning of the year.
The State Statistics Service reported that the decline in investment in the first nine months of 2015 was mainly due to foreign currency exchange rate differences, resulting in the reduction of share capital by $3.654 billion, while the capital outflow was insignificant and amounted to $526.2 million, as compared to $2.555 billion in new investment.
In January-September 2015, investments came from 133 countries. The major investors of Ukraine, which accounted for 83% of total investments, were from Cyprus, Germany, Netherlands, the Russian Federation, Austria, the United Kingdom, the British Virgin Islands, Switzerland, and Italy.