Among core areas of investment into Ukraine for the German
business are viewed transport infrastructure, agricultural sector, power industry and energy efficiency. Prime Minister of Ukraine
Arseniy Yatsenyuk announced
in 10 minutes programme on Sunday,
October 25, speaking
about outcomes of the recent Ukrainian-German economic forum
stressed that in the
past 18 months the Government's
program of reforms had
been aimed primarily to ensure fiscal and financial stabilization: "Onerous debts, billions in spending to serve them, unprecedented sums in expenses for national security and defense. It was vital to find extra funds to improve wages and
pensions. It was necessary to finance social, health
and education areas.
So, our first package of economic transformations was aimed directly
at stabilizing the economic situation. And this is the basis of our programme
with international creditors."
Now, he stressed, we should think about economic upswing: "We predict that in 2016 the
Ukrainian economy will boost
Minister reminded that on
1 January 2016 an Agreement on free trade area between Ukraine and the European Union was due to come in force: "This will be a strong impetus for the Ukrainian
economy to become competitive and for the foreign
investments to come
noted that on October 23, along with Federal Chancellor of Germany Angela
Merkel they opened the first conference in
history of between Ukraine
and Germany gathering
representatives of the two states:
"Over the past year and a half the German business hasn’t
left Ukraine, and, on the contrary, is willing to further invest in the Ukrainian economy".
According to the Head of the Government, German entrepreneurs say that Ukraine "has done a lot”: “But much more should be done to ensure flow of German investments into
Ukraine and as a result
opening new businesses, creating new jobs and bringing
The key area of
German investments in the Ukrainian economy, Arseniy Yatsenyuk underlined, - is primarily the transport
infrastructure. He informed that the Government had
already started negotiations with Germany’s Siemens for updating the rolling
stock of Ukrainian railways and performing their modernization.
Another important area of investment is
agriculture: "We need investment in order to have new equipment of high
we are holding negotiations on the release of financial assistance for Ukraine
through the Hermes company which will focus on
providing Ukrainian farmers with loans to purchase German equipment - such as
CLAAS and John Deere combine harvesters, being produced in Germany."
Energy is one more area for German business
investment. Arseniy Yatsenyuk said that he had appealed to German companies
"that it is time to invest in the Ukrainian gas transportation
system": "We have adopted a corresponding law, and there is every
opportunity to let German energy companies join the Ukrainian energy system and
together operate the Ukrainian GTS and storage facilities."
be the best way to avoid bypassing Ukraine and building pipelines of various
kinds designed to deprive Ukraine's transit potential. This is a very strong
kind of energy business and the formation of a joint energy policy between
Ukraine, Germany and the EU as a whole," added the Prime
also said that Germany considered Ukraine as one of the key countries in terms
of investments in energy efficiency and energy saving. This,
according to him, has become possible "thanks to the reforms in the energy
sector, which we carried out, including the very difficult but right reforms in
pricing and tariff of energy resources, in the management systems of energy
monopolists of the state."
German investments in energy efficiency, he emphasised,
"mean new boilers, insulation and technologies that save energy resources
and enable to pay less for utility services."
"Our economic cooperation with Germany is very important. Germany is
a leader in economic development of the European Union. And despite all the problems that
exist in the EU and Germany, including those related to the migrant crisis,
losses of member countries of the European Union because of imposed sanctions
against the Russian Federation - German Chancellor Angela Merkel supports the
Ukrainian people," Arseniy Yatsenyuk pointed out.
The Prime Minister has also said that on 26 October Commerce
Secretary Penny Pritzker arrives to Ukraine
"with the purpose of attracting US investments into the Ukrainian
economy": "After our investment conference held in Washington, American
business is coming to Ukraine in order to invest in Ukraine, create new
enterprises, new jobs and develop our economy."