UkraineInvest Executive Director Sergiy Tsivkach opened the first online forum FIT for Ukraine: Construction Materials with the participation of business representatives from more than 40 countries, investors, representatives of state bodies and financial institutions.
“Our goal as organizers of the FIT for Ukraine forums is to explain what type of investment opportunities Ukraine offers. Each example is based on an analytical approach. Businesses should understand what exactly will be needed for the reconstruction of Ukraine, what types of industries and products, and what can be planned now with the appropriate analytics,” said Sergiy Tsivkach.
At the beginning of his speech, the Executive Director of UkraineInvest noted that the damage caused by military actions on the territory of Ukraine to residential and non-residential infrastructure is currently estimated at $143 billion. At the same time, residential buildings were the most affected; in total, more than 150,000 residential buildings were damaged or destroyed, including private houses, apartment buildings and dormitories; 650 administrative buildings were destroyed. The area of buildings completely destroyed or severely damaged amounts to 65 million m2.
Nearly 300,000 people have officially applied to the state for compensation for lost housing through the Diya system.
Losses to business assets caused by Russia’s full-scale armed aggression amount to at least $11.3 billion.
To rebuild all or part of the lost residential area, Ukraine needs 3.9 million m2 of glass, 5.7 million m3 or 11.9 million tons of concrete, 39.3 million m2 of bricks, 45 million m2 of tiles. “These are very preliminary estimates,” said Sergiy Tsivkach.
Corresponding demand for construction materials creates investment opportunities in the field of construction materials production in Ukraine. During the presentation, the Executive Director of UkraineInvest outlined the advantages of investing in the production of each type of construction materials, the availability of natural resources for this production, the structure of the industry, export opportunities and the key players in each sector. “The scope for development is significant,” emphasized Sergiy Tsivkach.
The Executive Director of UkraineInvest also presented investment incentives for significant investment projects provided by current legislation.
“We will assist investors who contact us in obtaining state support for investment projects, free of charge. We invite businesses to take advantage of these opportunities and receive state support to shorten the payback period of investment projects,” Sergiy Tsivkach urged.
In addition to working on the domestic market, relevant projects can take advantage of the geographical location and economic opportunities to export from Ukraine to regional and global markets. Ukraine has access to the markets of EU countries under the Deep and Comprehensive Free Trade Area Agreement with the EU and is a party to free trade agreements with 47 other countries.
The international online forum FIT (Forum on Investments and Transformations) for Ukraine: Construction Materials was held on the 30th of March. It was the first event in a series of forums initiated by the government investment promotion to discuss strategic sectors of the Ukrainian economy from the point of view of attracting investment.
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