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Yulia Svyridenko: French businesses are interested in investing in construction, energy, logistics, pharmaceutical manufacturing, and the financial sector

09 Nov, 2023
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Yulia Svyridenko: French businesses are interested in investing in construction, energy, logistics, pharmaceutical manufacturing, and the financial sector

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Ukraine and France plan to strengthen economic partnership by involving French businesses in the reconstruction and recovery efforts of Ukraine. Investors from France intend to increase private investments in key industrial sectors, while Ukraine, in turn, will support the cooperation between companies from both countries and expand support for small and medium-sized enterprises. This was discussed during a meeting between the First Deputy Prime Minister of Ukraine and the Minister of Economy Yulia Svyridenko and representatives of the French business association MEDEF International.

Despite the ongoing war, the Ukrainian economy has resumed growth. This year, a 5% GDP growth is expected, followed by another 5% the next year. The private sector is expected to be the main driving force for the country's recovery. Ukraine is collaborating with the European Union on a significant reconstruction plan worth 50 billion euros, which includes provisions for supporting private businesses and providing guarantees for investors totaling 8 billion euros.

Priority sectors for collaboration include energy, transportation and logistics, agriculture, critical materials, digital technologies, manufacturing, green metallurgy, and the defense-industrial complex. French businesses are invited to participate in the reconstruction of Ukraine, and private investors have a unique opportunity to establish their businesses before the country achieves victory in the ongoing war.

She noted that the Ukrainian Government has formulated a series of measures to facilitate the transition from raw material exports to processing. A key element of this strategy is providing financial and investment incentives to attract capital.

"We are ready to use and adapt the best practices of French companies and their experience in various fields. We already feel a specific interest from French businesses in areas such as construction, energy, logistics, pharmaceuticals, and the financial sector. Today, all conditions have been created for French businesses to enter the Ukrainian markets, primarily due to the fact that the French National Export Credit Agency Bpifrance has started insuring war risks.

Direct investments from French businesses are important for us to restore and deepen cooperation between Ukrainian and French companies, particularly through localization. This means new production capacities, jobs, and taxes here in Ukraine," continued Yulia Svyridenko.

According to her, in some areas, the collaboration between the private businesses of the two countries is already yielding results. This is especially true for the defense-industrial complex. France is not only supplying weaponry to Ukraine but is also interested in having their technological products manufactured by Ukrainian enterprises.

The Odessa Journal

The Odessa Journal

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