Representatives from 40 countries participated in the discussion on the reconstruction of Ukraine at “FIT for Ukraine: Construction Materials”

Representatives from 40 countries participated in the discussion on the reconstruction of Ukraine at “FIT for Ukraine: Construction Materials”

On March 30, the international online forum FIT (Forum on Investments and Transformations) for Ukraine: Construction Materials took place. This was the first event in a series of forums initiated by the government office for attracting and supporting investments, “UkraineInvest,” to discuss strategic sectors of the Ukrainian economy from the perspective of investment attraction. Participants in the forum included representatives from over 40 countries around the world.

During the event, the most relevant analytical information on current and post-war needs of Ukraine in the production of construction materials was presented. The discussion was opened by the Executive Director of UkraineInvest, Sergiy Tsivkach, with a report on the prospects for creating enterprises for the production of construction materials in the conditions of large-scale armed aggression and post-war Ukraine. In particular, investment opportunities were presented in each of the sectors – production of glass, cement, brick, steel, ceramic materials, as well as economic assessments of reconstruction needs. Potentially, the creation of new production facilities can be aimed not only at meeting the needs of the domestic market of Ukraine but also at exporting products.

Currently, the losses from hostilities in Ukraine for residential and non-residential infrastructure are estimated at $143 billion. In this case, residential buildings suffered the most, and almost 300,000 people officially applied to the state for compensation. Business asset losses amount to at least $11.3 billion.

Foreign businesses should plan investment projects in Ukraine without waiting for the end of the full-scale armed aggression, emphasized Sergiy Tsivkach. “It is very important to start planning investments in Ukraine. Project planning can take only half the time of its implementation, and it is not such a costly stage. Moreover, it can be done remotely, without constantly being in Ukraine. UkraineInvest is a reliable partner, along with other state institutions responsible for attracting investments, will help start planning remotely and free of charge for the applicant.”

Speakers at the forum included Vitaliy Koval, Head of Rivne Regional Military Administration; Mike Stenson, Head of Kingspan investment project in Ukraine; Kyrylo Pesenkov, General manager of Saint-Gobain Ukraine; Olena Voloshyna, Head of International Finance Corporation (IFC) in Ukraine; Janusz Wladyczak, President and CEO KUKE; and Volodymyr Bandura, CEO and Partner of IDEALPORE.
During the forum, participants presented practical results of cooperation with UkraineInvest in the start and further implementation of investment projects with significant investments in the production of building materials.

In the speakers’ presentations, optimistic assessments were made about the state of the economy and the pace of Ukraine’s recovery, as well as the openness of its economy to foreign investors and the availability of advantages for starting a business at this stage.

The discussion was moderated by Rominа Bandura, Senior Fellow at the Center for Strategic and International Studies (CSIS), USA.
Soon, the video of the forum will be available on the official YouTube channel of the UkraineInvest government office.

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