Ukrainian leadership urging investment despite crisis

Ukraine’s current political leaders said that Ukraine is still an investment destination in spite of the ongoing crisis caused by Ukrainian-Russian conflict.

“Despite the economic slowdown in Ukraine, which has come as a consequence of the unstable political relationship between Ukraine and Russia, it is still worth investing in Ukraine,” Ukrainian representatives said on the EBRD Annual Meeting and Business Forum that took place in Warsaw on May 14-15.

Ukraine currently faces three challenges that need to be completed in order to bail out the country’s economy, according to the Ukrainian Minister of Economical Development and Trade, Pavlo Sheremeta.

“First of all, Ukraine still needs a legitimate president to be elected during the planned presidential elections on May 25. Second, a dialogue, both on the national and international levels needs to be held, including the dialogue with Russia. And the third, Ukraine needs a decentralization of power,” Sheremeta said.

Ukraine holds the second position in the world export of grain, according to Sergey Yevtushenko, the head of InvestUkraine, the State Agency for Investment and National Projects.

A Danish farmer Tom Axelgaard, who has been engaged in Ukrainian agricultural business for more than 10 years, also encouraged investment in the rural sector, which would help to create new jobs for Ukrainian people.

“Apart from being a ‘grain basket,’ Ukraine needs to become a ‘brain basket.’ Based on several social surveys, majority of Ukraine’s young generation chooses to tie their future careers with the IT sector. To ensure good education and jobs for them, Ukraine needs investments in the IT sphere,” Yevtushenko added.

Ukrainian Minister of Finance Oleksandr Shlapak added that investors should not fear the future.

“Do not be afraid to invest in the country, which is in crisis. If it endures difficulties, then it is alive. Come and invest in Ukraine. And, as I always repeat, pray for it,” Shlapak said.