Shmyhal: UkraineInvest has received applications worth over $2 B from 23 investors

"There are investment nannies in Ukraine. UkraineInvest has been identified as a key institution. Already nine employees have been identified as persons guiding large investment projects. To date, 23 investors have applied to take advantage of this law. The total amount they plan to invest in Ukraine is over $2 billion," Prime Minister Denys Shmyhal said at a press conference.

According to him, the investments will be made this year and next.

"Accordingly, UkraineInvest employees are assigned to such investors and guide them," Shmyhal added.

The Head of Government also commented on his order to the ministers, heads of regional state administrations to create or resume at least one production facility with the number of employees from 500 to 3,000 people.

"This is probably not exactly a market mechanism, but it is not illegal. In principle, it is the direct duty of every minister and head of the regional state administration, to create in their territory or in their industry conditions and guide the entry of investment companies with Ukrainian or foreign capital," Shmyhal said.

The Investment Promotion Office (UkraineInvest) is a permanent advisory body to the Cabinet of Ministers, established by a government decree in October 2016 to attract foreign direct investment to Ukraine and improve the country's image as a country attractive for investment.

The Investment Promotion Office is a project under the agreement between the Western NIS Enterprise Fund and NGO " Foundation for Support of Reforms in Ukraine". WNISEF assists the Government of Ukraine in developing effective economic and leadership policies and strengthens strategic cooperation between countries and between the private and public sectors as provided for in the Memorandum of Understanding between WNISEF and the Ministry of Economic Development and Trade of Ukraine.

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