World business leaders are interested in investing in Ukraine
Yulia Svyridenko met with CEOs of top companies in New York.
First Deputy Prime Minister – Minister of Economy of Ukraine Yulia Svyridenko held a series of meetings in New York with representatives of leading global companies to involve them in Advantage Ukraine – a program to encourage foreign investments in the economy of Ukraine. In particular, such meetings were held with representatives of U.S. Steel led by Jessica Graziano, NuScale Sales Director Cheryl Collins, JP Morgan led by Hergana Thiel, and representatives of General Electric, MUFG Bank, Honeywell, and Halliburton. In addition, during the round table, the Ukrainian delegation had a constructive dialogue with the management of Mastercard Inc. and other leading companies of the world.
The Ukrainian delegation told potential investors in particular about the possibilities of the Advantage Ukraine platform. President of Ukraine Volodymyr Zelensky and the Ministry of Economy presented it at the opening of the New York Stock Exchange. Projects and opportunities in 10 industries are collected on the website; they can be implemented in partnership with the state and leading private domestic companies.
Business representatives are interested in the investment potential of Ukraine and have already started studying projects for possible capital investments.
In particular, promising areas of cooperation are:
- construction of “smart networks” (Smart Grids),
- introduction of industrial batteries and other balancing capacities (Energy Storages and different balancing capacities),
- gas production using advanced drilling technologies (natural gas upstream progressive drilling solutions),
- green metallurgy using direct reduction iron (DRI-based green metallurgy).
All these projects can attract billions of dollars of investment into the economy of Ukraine and, thanks to cooperation with the world’s leading companies, bring our state to a leading position.
“The flagships of world business are ready for a serious substantive dialogue regarding potential involvement in investment projects,” assures Yulia Svyridenko. “For its part, Ukraine will do everything possible to ensure that each company receives high-quality, comprehensive support at all stages of its involvement. Within the state, we create conditions for businesses to develop. These are deregulation, labor market reforms, quick investment mechanisms, and working hard for further tax reform. The recipe for the future economic miracle of Ukraine is the most favourable environment for entrepreneurship, the reduction of the state in the economy, and powerful capital investments, the amount of which will be accumulated up to 750 billion dollars in the future.”
It plans to establish strategic partnerships for attracting direct investments and debt capital with all the world’s leading investment banks. The team of the Ministry of Economy has already started this process with the New York office of the largest Japanese bank holding MUFG, whose assets amount to more than USD 3 trillion, as well as with the headquarters of JP Morgan Chase – the largest bank holding company in the USA, with assets exceeding $3.8 trillion. dollars
With these financial giants, during a working visit to New York, the issues of involving their clients in the study of Ukraine’s investment opportunities were discussed. It was also determined which international debt instruments would be the most profitable (the lowest possible interest rate and the longest repayment period) in the current conditions for Ukrainian borrowers from both the private and public sectors.
Investment banks are ready to involve their experts from the analytical and research direction in the international expert working group, which is planned for the near future. This working group is designed to verify the multiplier effects on the economy by attracting investments in various industries.
We will remind that at the opening of the New York Stock Exchange, a platform for potential foreign investors was presented, where more than 500 investment projects and opportunities in 10 sectors of the economy were collected. It is part of the large Advantage Ukraine campaign, which WPP developed with the support of the President of Ukraine.