PM Shmyhal: Ukraine reconstruction project opens up many opportunities for business

Prime Minister Denys Shmyhal said this at the Clusters Meet Regions conference in Kosice, Slovakia, on March 29, Ukrinform reports with reference to the Government portal.

According to the Head of Government, Ukraine already has many indisputable advantages for investors, including convenient logistics in the western direction, highly qualified and educated workers, and extensive infrastructure.

The reconstruction of Ukraine is the most ambitious project of the 21st century which requires huge resources but at the same time opens up countless opportunities and prospects for the business.

Shmyhal mentioned the five most promising sectors: energy, military-industrial complex, agriculture, natural resources, and IT.

"We are building a new economy. We are activating a public-private partnership. We adopted modern legislation so that dozens and then hundreds of powerful concession projects appear in Ukraine," the Head of Government noted.

War risk insurance is a key issue for investors, and the government is working on solutions, he added. One of them is the creation of an international trust fund which will make it possible to involve the export credit agencies of the G7 countries, the Multilateral Investment Guarantee Agency (MIGA), as well as the American agency DFC, which, according to the Prime Minister, has already declared its readiness to mobilize more than $1 billion of private capital to support Ukraine’s economy.

"Ukraine and the EU will be united not only in terms of values and politics but also economically. Each joint successful investment project brings us closer to the goal. To strong and successful Ukraine and to united and diverse Europe," the Prime Minister summed up.

As reported, the World Bank estimated Ukraine's reconstruction needs at $411 billion.