In 2023, Latvia invested EUR 5.1 million in Ukraine’s recovery

In 2023, Latvia invested EUR 5.1 million in Ukraine’s recovery

The Latvian business community is helping Ukrainian companies set up logistics, enter global markets and establish new partnerships. Latvia has become one of the main entry points to the EU market for Ukrainian exports. More than 1.2% of Latvia’s GDP is spent on supporting Ukraine. It is one of the few countries with which trade turnover increased in 2022 (+7.4%).

This was discussed during the bilateral Ukrainian-Latvian business forum held in Kyiv as part of the visit of Latvian business representatives interested in investing in the Ukrainian economy.

Participants discussed

  • investment potential and priority areas of bilateral cooperation; 
  • Latvia’s participation in Ukraine’s reconstruction;
  • business environment in Ukraine and Latvia; 

Among the industries represented by Latvian entrepreneurs

  • energy;
  • construction and design;
  • transport and logistics;
  • biopharmaceuticals;
  • wood processing;
  • production of building materials;
  • food industry;
  • physical rehabilitation;
  • waste recycling. 

”Latvia’s logistical capabilities and Ukraine’s production capacities can be a prerequisite for quickly attracting investment capital.Ukraine offers a wide range of attractive sectors for bilateral cooperation: significant land resources, developed agro-industrial and processing complexes, energy and energy efficiency, mining, engineering, shipbuilding, infrastructure and logistics. There are also significant opportunities in the areas of construction and development of innovative technologies,” said Oleksandr Melnychenko, Acting Executive Director of UkraineInvest. 

He stressed that UkraineInvest will provide comprehensive support to interested investors, including reliable and up-to-date information, advice on doing business in Ukraine, identification of optimal investment opportunities, assistance in communicating with the authorities, and help in solving problems they may encounter.

UkraineInvest is grateful to UCCI, the Embassy of the Republic of Latvia in Ukraine and the Latvian Investment Development Agency for organising the event.

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