The Executive Director of UkraineInvest, Sergiy Tsivkach, joined the event on prospects for economic cooperation with South Korea organized by the Embassy of South Korea in Poland with the participation of representatives of South Korean companies.
Addressing the audience online, Sergiy Tsivkach, emphasized that “full-scale military aggression brought economic losses to Ukraine, but also created investment opportunities.” UkraineInvest, as a government office designated to support significant investment projects, is currently making every effort to attract investments to the Ukraine’s economy before the aggression ends.
“Ukraine’s reconstruction will embrace many sectors like critical infrastructure, engineering networks, development of airports, railways, seaports, and will also bring new companies to Ukraine. We need to rebuild the country as a prosperous European democracy, where the economy produces high-tech and value-added products. Therefore, cooperation with South Korea and following its model of economic breakthrough areextremely valuable for Ukrainian partners.
During the event, Sergiy Tsivkach presented investment opportunities in projects that have already started implementation in Ukraine totaling more than $500 million, as well as benefits of participation in privatization of state-owned enterprises in Ukraine. In particular, in the development of agricultural enterprises, which is important in terms of strengthening food security; in the field of production of building materials and the construction of a logistics hub in the capital region. At the same time, Sergiy Tsivkach emphasized that such investment opportunities include already existing projects that are being implemented by well-known companies with a long history of presence in Ukraine proving their reliability.
The executive director of UkraineInvest has also presented the benefits for investors of participation in industrial parks. Currently, 61 industrial parks have been established in Ukraine. According to the law participants of industrial parks can obtain such advantages as full or partial compensation for interest rates on loans for the arrangement of industrial park, business activities, land tax exemption or reduced land tax rate, exemptions of customs duties and VAT when importing new equipment, 10-year corporate income tax exemption, exemption from real estate tax, etc.
The Executive Director of UkraineInvest has also presented advantages for investment of more than 20 million euros in the eligible industries, specified by a special law. UkraineInvest as a government office assists investors in accessing the benefits of investing into the Ukrainian market. Cooperation with the state can also be secured by the conclusion of so-called “special investment agreements”, according to which the Ukrainian state provides with 15-year assistance.
Sergiy Tsivkach emphasized that UkraineInvest actively promotes the positive image of Ukrainian business in the world, participates in attracting investors to the Ukrainian economy, and communicates the advantages of doing business in Ukraine. UkraineInvest currently has 17 investment projects worth $2.3 billion in its portfolio.
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