REUTERS
Ukraine's First Deputy Prime Minister Stepan Kubiv says foreign direct investment in Ukraine's economy amounted to US$3.8 billion in 2016, which is almost twice more than in 2015.
"Foreign investors injected $3.8 billion into the Ukrainian economy in 2016, which was twice more than in 2015. An important achievement is the fact that Ukraine has climbed up in the world rankings. Further promotion of reforms is a priority for the government. The focus of attention includes privatization, customs reform, ensuring equal conditions for doing business, and further deregulation," Kubiv said at a government seminar on the subject "The Economic Development of the Regions: Strategies and Tools to Raise Investment and Increase Export Potential."
In his words, all this has become possible due to many factors, primarily the government's work on deregulation and reduction of bureaucracy.
Read alsoUkraine's Vice PM: economy out of shadows at record paceHe also noted that among the important government's achievements were a decline in the number of permits, in licensed activities, as well as a reduction in required documents like "quarantine certificates." These measures saved UAH 2 billion for businesses.
Among the priorities for 2017 are a further reduction in the number of permits, customs and currency restrictions, as well as digitization of 70% of existing permits, according to Kubiv.
As UNIAN reported earlier, foreign direct investment in Ukraine's economy (non-resident shareholders' equity) amounted to $2.6 billion in the first nine months of 2016. The total sum of investment as of October 1, 2016, had been $45.152 billion. Investment came from 125 countries. Cyprus, the Netherlands, Germany, Russia, Austria, the United Kingdom, the British Virgin Islands, Switzerland, and Italy are Ukraine's major investors, accounting for 83.1% of the total invested sum.