Business opportunities in Ukraine
15 July 2024 07:23
BUSINESS AND INVESTMENT OPPORTUNITIES IN UKRAINE
UKRAINE AT A GLANCE
- Area: 603, 700 km2
- Population: 42 million
- Geographical center of Europe. Geographic location makes it an important transit corridor for trade.
- Rich and complementary mineral resources in high concentrations and close proximity to each other.
- High reserves of coal, iron ore, natural gas, manganese, salt, oil, graphite, sulfur, kaolin, titanium, nickel, magnesium, and mercury.
Main economic features
- highly educated and competitive manpower
- rich natural resources
- open and export-oriented economy
- WTO member
- FTA with EU, EFTA, Montenegro, Canada, Israel and Turkey
- extensive railway and highway networks, sea and river ports, airports.
Agriculture Superpower
Potential to provide food for 800 million people
- arable lands 70% of the territory
- 25% world`s most fertile black soil
- worldwide largest exporter: sunflower oil, grain, barley and corn, wheat and soybean, poultry and honey, eggs.
IT Powerhouse
Ukraine is the first country to digitalize most of its personal official and government-related paperwork. Ukraine ranks 4th in worldwide volume of mobile device powered financial transactions. Ukraine’s number of crypto users puts it to the 4th place in the world with legalized mining and cryptocurrency ecosystem.
Details: Ministry of Economy of Ukraine
https://www.me.gov.ua/?lang=en-GB
TRADE SUPPORT BY MINISTRY OF FOREIGN AFFAIRS
EXPORTERS AND INVESTORS COUNCIL
EIC is a platform, which unites Ukrainian producers, exporters and leading business associations providing necessary support in promoting their goods and services abroad and entering new markets, as well as attracting foreign investors and companies to Ukraine effectively using diplomatic tools, resources and networks.
INTERNATIONAL PLATFORM NAZOVNI
NAZOVNI provides contacts of potential partners to export and import.
Application form for non-resident companies of Ukraine who want to buy products or services from Ukrainian suppliers
https://nazovni.online/en/import-application
Catalog of Ukrainian Goods for Export (download below)
catalog-of-ukrainian-goods-export-jun24.pdf
catalog-buy-from-cherkasy-region.pdf
catalog-buy-from-poltava-region.pdf
INVESTMENT OPPORTUNITIES IN UKRAINE
The URC2024 was instrumental in mobilising continued international support for the resilience, recovery, reconstruction, reform and modernisation of Ukraine in business, human, local and EU dimensions. Important cross-cutting issues such as macro-economic stability, resilience and security, energy, critical infrastructure, housing, climate actions, green recovery, healthcare, education, environment and gender were integrated into these dimensions. To ensure engagement in addressing these issues all across society, the URC2024 enabled the meaningful participation of a broad range of stakeholders. Upholding the spirit of the Ukraine Reform Conferences that took place until 2022 and the Lugano Principles, the URC2024 also showcased Ukrainian progress on reform in the context of its economic resilience and the EU accession process. Businesses and municipalities seized new business opportunities, exchanged experiences and presented their achievements at the Recovery Forum business fair.
The URC2024 was prepared jointly with international partners through a series of pre-events on the “Road to URC2024”, including civil society consultations on each dimension of the URC. The Multi-Agency Donor Coordination Platform for Ukraine uniting 30 partners, including donors and international financial institutions, in support of Ukraine, met at ministerial level for the first time. Members adopted a Joint Communiqué reaffirming their commitment to foster robust and effective channels for assistance coordination to meet Ukraine’s highest priority needs.
In total, over 110 agreements were signed including a dozen business to business agreements. Together with announcements made during the URC2024 they amount to over 16 billion euro, including strong support for energy resilience, the defence industry, social infrastructure, reconstruction of critical infrastructure and private sector development, agriculture and processing. Parts are financed through new commitments under the EU’s Ukraine Facility.
(extract from Co-Chairs’ Statement by the Governments of Ukraine and the Federal Republic of Germany Ukraine Recovery Conference 2024)
https://www.urc-international.com/
Ukraine Investment Guide as outcome of URC-2024
(Download here)
ukraine-investment-guide-2024.pdf
Advantage Ukraine
In July 2022, at the conference in Lugano, Ukraine presented a powerful and comprehensive plan for recovery of the country. The implementation of this strategy is designed for 10 years and gained favorable assessments and support from international partners.
Ukraine sets an ambitious, however quite realistic goal: to make a huge step from transitional to developing economy by 2032.
To attract foreign investors to the Ukrainian economy, a unique electronic platform Advantage Ukraine has been created, which hosts more than 500 investment projects and opportunities in 10 sectors of the economy.
Having registered on the platform, each potential investor will receive comprehensive information about investment opportunities, specific projects and benefits that he or she will have from investing in the economy of Ukraine.
UkraineInvest
INVESTMENT PROMOTION OFFICE
https://ukraineinvest.gov.ua/en/
UkraineInvest Services
https://ukraineinvest.gov.ua/en/services-team-2/our-services/
Guide: Rebuilding Ukraine with the Private Sector
Rebuilding Ukraine with Private Sector is set to become the important source of information about Ukraine to potential investors. It contains information on Ukraine’s investment profile, financial incentives, business opportunities, as well as analytical data from various industries.
https://ukraineinvest.gov.ua/en/guide/
Digital Restoration EcoSystem for Accountable Management (DREAM)
DREAM collects, organizes and publishes open data across all stages of reconstruction projects in real time, implementing the highest standards of transparency, and accountability. Anyone, anywhere, can monitor the effectiveness and efficiency of project delivery, and use these insights to mitigate risks, conduct accurate reporting and improve overall project performance.
KEY INDUSTRIES TO INVEST
The defence industry of Ukraine is a strategically important sector and a large employer in Ukraine. After working for several decades mostly for the arms export markets, in 2014 it has moved significantly into increased Ukrainian military procurement.
Metallurgy. Ukraine is among the countries with expertise in high-technology metallurgical processes and full-cycle production of titanium and titanium-containing products. Ukraine holds an estimated 6.5 billion tonnes of crude iron ore reserves. There is a huge potential for direct reduced iron market and green metallurgy.
Agriculture. Historically known as the “bread basket of Europe”, Ukraine is set to become the “food basket” of the world. With 33% of the world’s black soil concentrated in Ukraine, a favorable climate and proximity to key markets, Ukraine is becoming an agriculture export powerhouse with huge processing opportunities.
Energy sector. Traditionally, Ukraine has a powerful and developed energy sector, including gas, electricity, hydro, coal and nuclear. Ukraine’s renewables sector is poised for rapid growth. Creating balancing capacities and development of the energy storage system are promising directions for investments.
Pharma in Ukraine is the industry which combines a long history of development with innovations. This industry is among the leaders of investment. Ukrainian pharmaceutical companies keep up to international standards, most of the production capacities have been partially restored and obtained GMP.
Industrial manufacturing is an important sector of the Ukrainian economy. Large network of mechanical engineering enterprises in Ukraine produces turbines and electrical generators, railway cars, mining and agricultural equipment, machine tools, aircraft engines, production equipment for the light and food industries.
USEFUL LINKS
State Service of Ukraine on Food Safety and Consumer Protection - www.consumer.gov.ua/
Ministry of Infrastructure of Ukraine - www.mtu.gov.ua/en/
Ukrainian Chamber of Commerce and Industry – www.ucci.org.ua/en/
European Business Association - www.eba.com.ua
American Chamber of Commerce in Ukraine - www.chamber.ua