Burc Eruygur
09 February 2023•Update: 09 February 2023
ISTANBUL
Ukraine’s premier on Thursday discussed investments for his country’s reconstruction and postwar growth with representatives from US-based multinational banking and financial services company JP Morgan.
“Energy, the agricultural sector, natural resources, digital technologies, and infrastructure restoration are the most promising areas of investment in Ukraine,” Denys Shmyhal said in a message on his Telegram account.
Noting that Ukraine needs investment for reconstruction and postwar growth, Shmyhal said that his government creates a “favorable investment environment” by “canceling unnecessary licenses and permits and minimizing requirements for projects containing significant investments.”
Shmyhal also said a UkraineInvest office under the country’s Cabinet is currently supporting eight large projects worth a total of $1.35 billion.
UkraineInvest is an independent advisory body established in 2016 meant to attract and support foreign direct investment to the country.
“In addition, we are working on war risk insurance and obtaining investment guarantees. There are already agreements with the MIGA (Multilateral Investment Guarantee Agency) group of the World Bank,” Shmyhal said.
He added that a memorandum of understanding was signed between the Ukrainian Economy Ministry and JP Morgan, which will contribute to deepening cooperation on the way to the country’s large-scale reconstruction.
