Ukraine: Investment chief says govt should use more tools to attract investors

Significant economic growth is impossible without foreign investment, but Ukraine for the time being cannot offer investment projects for firms ready to invest USD 5bn-10bn or more, the newly appointed head of the National Investment Council, Boris Lozhkin, said on his Facebook on Sep 10. Lozhkin said the government should change its attitude to investors and change the environment with the help of new tools in particular. He suggested that Ukraine should follow the example of certain nations in North Africa, where presidents or prime ministers sign direct agreements with big investors on specific projects.

Lozhkin said he hoped to attract USD 3bn-5bn in investment next year. President Petro Poroshenko appointed Lozhkin, his former business partner, as head of the investment council last month. Until then, Lozhkin had headed Poroshenko’s administration. The government has thus far planned privatisation auctions, rather than direct agreements, in order to attract foreign investors. By the end of this year, the government is going to auction off the Odessa chemical plant and several energy companies.

 

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