Germany signs investment insurance guarantee with Fixit to support its work in Ukraine

The creation of insurance guarantee programs by Ukraine's partners for their residents encourages foreign companies to invest in the Ukrainian economy now.

Prime Minister of Ukraine Denys Shmyhal stated this at the sixth German-Ukrainian Economic Forum in Berlin, an Ukrinform correspondent reports.

"The key to attracting investment is the insurance of military and political risks. We are grateful to the German government and Mr. Scholz for the insurance guarantee program for German investors. This encourages companies to invest now, not after the war is over," said Shmyhal.

He noted that on the sidelines of the forum, the German government signed an investment insurance guarantee to the German company Fixit for the completion of the second production facility in Ukraine. According to Shmyhal, France, Japan, Italy, Sweden and the United Kingdom have also announced risk insurance for their residents. He noted that the United States is expected to take appropriate steps.

At the same time, Shmyhal said that the Ukrainian side is doing everything possible to attract investment. In particular, deregulation of processes is underway: the government has already reviewed more than 1,000 regulatory instruments that are being improved, digitalized or canceled. Digitalization is also being implemented, which produces new digital tools for business that minimize bureaucracy.

"We are establishing industrial parks. These are industrial sites with ready-made engineering communications and tax benefits. More than 70 of them have been created so far. We plan to increase the protection of these sites," Shmyhal noted.

He added that UkraineInvest, the government office for attracting and supporting investment, is operating in Ukraine, and that logistics on the country's western border are improving.

"We are launching electronic queue systems and pilot projects of joint control. We are improving and reforming customs, integrating it into the European space. To do this, we are adapting Ukrainian legislation to the legal framework and acts of the EU," the Prime Minister said.

As reported, the Sixth German-Ukrainian Economic Forum, which gathered more than 500 representatives of politics and business, started in Berlin. The forum is held under the slogan "Recovery, smart growth and security".