On December 14, 2021, the Second Annual UkraineInvest Forum “MAKE in UA” was held in Kyiv. Gathering offline and online participants from more than 50 countries, the forum presented the main economic achievements of the country in 2021, including the program for attracting investments in the manufacturing sector of Ukraine’s economy “MAKE in UA”.
The event featured opening remarks by the Prime Minister of Ukraine Denys Shmyhal. During his speech he noted that in 2021, the priority areas of the Government’s policy included introduction of investment incentives for projects with significant investments, further digitalization of the country, completion of land reform and reforms in the field of urban planning and architecture, privatization and the launch of industrial parks.
“We are seeing an upsurge in investment activity indicators in Ukraine. By the end of the year, the Government forecasts the level of FDIs accounting to nearly USD 6.5 billion, including reinvestment. This is going to be the largest volume within the last 5 years. 2 applications from investors for receiving the state support according to the Law “On State Support for Investment Projects with Significant Investments in Ukraine” are expected to be submitted this week. The total amount of investment is approximately USD 96 million. The projects are tobe implemented in the fields of agro processing and the production of construction materials,” the Head of Government stressed.
The keynote speeches were delievered byChairman of the Servant of the People parliamentary faction, Chairman of the Supervisory Board of UkraineInvest Davyd Arakhamia, Member of the Parliament of Ukraine, Head of the Temporary Special Commission of the Verkhovna Rada on Protection of Investors’ Rights Halyna Yanchenko, Minister of the Cabinet of Ministers of Ukraine Oleh Nemchinov and Deputy Minister for Communities and Territories Development of Ukraine Ivan Lukeria.
“Due to a number of legislative initiatives, we are trying to simplify the path of an investor in Ukraine. The state institution UkraineInvest functions and maintains effective communication between the government and business. The Verkhovna Rada of Ukraine has already adopted a number of important legislative initiatives that significantly improve the investment climate of Ukraine, among them: investment incentives, land market, privatization, a law on industrial parks,” said Chairman of the Servant of the People parliamentary faction, Chairman of the Supervisory Board of UkraineInvest Davyd Arakhamia.
According to Halyna Yanchenko, the Head of the Temporary Special Commission of the Verkhovna Rada on Protection of Investors’ Rights, this year it was possible to unblock twice as many investment projects as last year. According to her, the adoption of the Law “On State Support for Investment Projects with Significant Investments in Ukraine” indicates that Ukraine has chosen the right vector for attracting investments.
More than 20 speakers took part in the event, including representatives of central and regional bodies, international organizations, business and investment circles.
“The success of Ukraine’s chosen path lies in the consolidation of reforms: reforms in the field of justice, law enforcement, customs and tax control, land turnover and digitalization are taking place simultaneously with the introduction of financial, tax, customs incentives in the processing industry, IT, electric transport production”, – emphasized the Minister of the Cabinet of Ministers of Ukraine Oleh Nemchinov.
Deputy Minister for Communities and Territories Development of Ukraine Ivan Lukeria noted at his speech that industrial parks will become one of the important tools for attracting investments to the Ukrainian communities in the coming years.
To enhance the investment attractiveness of Ukraine at the global level, UkraineInvest team initiated the “MAKE in UA” program that was presented during the forum. Its goal is to attract investment in the manufacturing sector of the Ukrainian economy.
“Manufacturing is one of the key components of the country’s economy. For the 1st half of 2021, the share of production in Ukraine’s GDP was 11.7%, and this is the best indicator over the past 3 years. By 2025, our goal is to double the flow of annual FDI in the country’s manufacturing sector. The “MAKE in UA” program identifies specific investment opportunities and will be implemented in cooperation with the regions of Ukraine and international partners,” emphasized Sergiy Tsivkach, Executive Director of UkraineInvest during his presentation.
The roundtable was also attended by the Member of the Parliament of Ukraine, Chairperson of the Sub-committee on State-Business Interaction and Investment of the Verkhovna Rada of Ukraine Committee on Economic Development Ihor Marchuk and Member of the Parliament of Ukraine, Deputy Head of Economic Development Committee Dmytro Kysylevskyi who spoke about the mechanism of creating the institute of “investment nannies”, the legislative system of industrial parks and the localization of production.
The event was organized by the Government Investment Promotion Office UkraineInvest and supported by USAID Competitive Economy Program.
The Second Annual UkraineInvest Forum “MAKE in UA” summarized a series of UkraineInvest Talks events that presented investment opportunities Ukraine. This year, UkraineInvest Talks were successfully held in Dnipro, Vinnytsia, Rivne and Vilnius, bringing together more than 12 thousand offline and online participants from more than 80 countries.
