An economically developed Ukraine is a guarantee of security for the whole of Europe

An economically developed Ukraine is a guarantee of security for the whole of Europe

Under this slogan, a major conference on investment in Ukraine was held in Tallinn, Estonia, with the participation of the Baltic and Scandinavian countries: Investing in Ukraine’s Future.

Participants discussed 

  • economic potential and expanding investment opportunities in Ukraine; 
  • building partnerships and facilitating economic recovery;
  • the role of European support and strategies and approaches to Ukraine’s post-war recovery;
  • western companies entering the Ukrainian market;
  • the role of Nordic and Baltic governments in attracting private sector investment to Ukraine during the war.

Among the speakers:

  • David Arakhamia, Chairman of the Servant of the People Faction, Chairman of the Supervisory Board of UkraineInvest;
  • Kaja Kallas, Prime Minister of Estonia;
  • Kadri Simson, European Commissioner for Energy;
  • Oleksandr Melnychenko, Acting Executive Director of UkraineInvest;
  • Yevhen Baranov, Partner of Dragon Capital;
  • Vasile Tofan, Senior Partner, Horizon Capital.

David Arakhamia stressed that in order to strengthen investment security and reduce risks related to military conflicts Ukraine is developing partnerships in the field of investment insurance with leading international agencies such as MIGA and the US International Development Finance Corporation, particularly in the aspects of insurance against military operations and unforeseen events, and a number of countries have created special funds to insure the investments of their citizens.

“UkraineInvest assists foreign investors in developing and implementing investment projects in Ukraine. UkraineInvest is ensuring that reconstruction is based on attracting private investment. Companies are actively approaching us with investment plans. The number of enquiries during the war is at least three times higher than before the war. UkraineInvest is currently supporting 17 projects. Crisis always means new opportunities, and the investment community understands this,” says David Arakhamia.

In his speech, UkraineInvest acting Executive Director Oleksandr Melnychenko called on Estonian, other Baltic and Scandinavian companies to invest in Ukraine’s construction and manufacturing industries, logistics and transport, healthcare, electronic communications, and science and technology. 

He spoke about the specific investment incentives offered by the Ukrainian government to encourage foreign investment, the changes that have been made to Ukraine’s legal and regulatory framework to facilitate market entry for foreign investors, sectoral investment opportunities, and how investors from Estonia and other Baltic and Scandinavian countries can take advantage of them.

“Ukraine has developed and implemented special legislation to attract foreign direct investment. For example, the Law of Ukraine “On State Support of Investment Projects with Significant Investments” was adopted, which provides for state support of up to 30% of the volume of significant investments for relevant investment projects. The law has significantly improved the system of investment incentives. It provides, among other things, for compensation of expenses for connection to engineering and transport networks, the right of first refusal to use a land plot, provision of engineering and transport infrastructure construction at the expense of the state budget, etc.,” says Oleksandr Melnychenko.

The conference was organised by the Estonian media company Delfi Meedia, the Estonian Ministry of Foreign Affairs and Miltton. The event was attended by entrepreneurs, investors, high-ranking officials and politicians working in Ukraine, as well as diplomats and entrepreneurs from the Baltic States and Scandinavia.

The event laid the foundation for a number of fruitful partnerships.

UkraineInvest would like to thank the Estonian side for supporting Ukraine’s investment aspirations.

Follow us on Facebook, Twitter, LinkedIn, or YouTube.