In April 2023, the company announced a EUR 60 million investment in seed production.
Oliver Gierlichs, Managing Director & CFO, Bayer Ukraine, said this during his speech at the industry forum FIT for Ukraine Bukovyna: Fruit and Vegetable Processing in Chernivtsi.
“Long before the war broke out, the company invested around 200 million euros to set up corn seed production at a plant in the Zhytomyr region. Bayer is one of the largest investors in the region. Its taxes account for about 25% of the local community budget. In 2022, the company decided to continue investing in the expansion of seed production, and in April 2023 it announced its decision to increase this investment by EUR 60 million. Bayer has been active in Ukraine since 1992 and we continue to do so today. We want to meet demand in Ukraine and further increase exports to the EU,” said Oliver Gierlichs.
The aim of the forum was to create an information and presentation platform for agribusinesses, highlighting the prospects for investment in the region’s industry, increasing its competitiveness and export potential for the rapid recovery and development of the Ukrainian economy.
The event was attended by more than 700 large and medium-sized enterprises of the region, representatives of the government, financial institutions, investors, heads of retail chains and business circles of Bukovyna, for whom the speakers presented analytical materials on the state of the sector in the region, financial opportunities and government incentives for the implementation of investment projects.
The forum also included an EXPO zone where regional companies presented their products and services.
Organisers:
FIT for Ukraine is a series of investment forums for businesses interested in Ukraine’s reconstruction. In 2023, more than 7,000 people from 65 countries participated in FIT for Ukraine events.
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