Ukraine can attract billions of dollars of investment due to implementation of an industrial relocation program and become the leading European manufacturing and industrial hub.
This was stated by UkraineInvest Executive Director Sergiy Tsivkach during his speech at “Industrial Relocation: Opportunities for Accelerated Development of Communities and Regions” conference held in Fastiv, Kyiv region.
Currently, UkraineInvest is exploring the possibility of moving production facilities from Asia to Ukraine.
Serhiy Tsivkach said that Asian countries are the main suppliers of goods to the EU. If we consider the relocation of production only by promising product categories for Ukraine, the total volume of imports of such goods from Asia to the EU in 2019 amounted to more than 800 billion US dollars.
Ukraine should take advantage of the fact that due to the outbreak of the COVID-19 pandemic, the issue of restoring global supply chains has become very important. International companies are considering relocating their production facilities from Asia to other parts of the world.
According to him, the issue of industrial relocation for Ukraine should be considered focusing on the European market. This choice is based on the volume of imports of goods from Asia to the EU, which in 2019 amounted to 1.2 trillion US dollars.
The EU spends about $ 71 billion annually on logistics, and delivery lasts at least 27-47 days. Relocation of production, including to Ukraine, will reduce costs and significantly reduce delivery time.
The Executive Director of UkraineInvest stressed that today Ukraine differs favorably from other candidate countries in many indicators of competitiveness and can worthily claim the title of European industrial and production hub.
During the business trip, Serhiy Tsivkach also met with the mayor of Fastiv and introduced the potential investor to the local authorities. They then jointly inspected a potential production site.
