Shmyhal: UkraineInvest receives applications for potential projects worth over $2B

The UkraineInvest office, which provides support to large investors, has already received applications for potential projects totaling more than $2 billion.

"To date, the government office of UkraineInvest, which provides support to large investors according to the law, has received applications for potential projects with a budget of over USD 2 billion. This initiative operates, and we encourage investors to actively use it. There are also open privatization auctions and tenders for public-private partnership projects. All these, according to our forecasts, should increase annual investments in Ukraine to USD 15 billion starting in 2025," Prime Minister Denys Shmyhal said at a meeting with Business Ombudsman Roman Waschuk, discussing the improvement of investment climate and business environment in the country, the Government portal informs.

The parties touched upon the implementation of the Law of Ukraine "On State Support of Investment Projects with Significant Investments" and other mechanisms for attracting capital to Ukraine.

Moreover, Shmyhal noted that Ukraine aimed to integrate into European markets over the next few years by signing so-called visa-free regimes with the EU in the industrial, customs, digital, transport and energy sectors. According to him, the introduction of European rules will give the Ukrainian economy additional billions of euros in revenues.

During the meeting, Waschuk informed the Prime Minister of the main objectives to be fulfilled by him as the Business Ombudsman.

"Our team of the Business Ombudsman Council reviews and resolves business complaints on a daily basis – from the smallest to the largest – and based on this experience we stand ready for systematic cooperation with the Prime Minister as an advisory body," said the Business Ombudsman.

Shmyhal and Waschuk raised the issue of joint measures to support the bill "On the Business Ombudsman Institution". The document provides for the establishment of the Office of the Business Ombudsman, which will facilitate pre-trial protection of the rights and legitimate interests of entrepreneurs from unscrupulous behavior of public entities.

Photo credit: Government portal

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