President Zelensky Promising Investors’ Paradise

12 Авг

On 8 August President of Ukraine Volodymyr Zelensky announced that the freshly elected Verkhovna Rada will adopt Law on Concessions this autumn. He did it in the course of his address at Ukrainian-Turkish Business Forum.

In the course of his official visit in Istanbul President of Ukraine Volodymyr Zelensky addressed the audience of the regular Ukrainian-Turkish Business Forum. In particular, he announced that:

— Ukraine’s economy will grow by 5-7% the next 5 years;
— at least 20Bn USD will be invested in the country’s infrastructure;
— 24,000 km of motor roads are going to be refurbished in the nearest future;
— Ukraine is facing a mass privatisation of state-owned business along with maximum simplification of business regulations including cancellation of restrictions in respect of labour relations and capital flow, as well as the new legislation forming the 40M ha land market.

Moreover, as concerns infrastructure he stated: “We are going to secure 15 really operating airports, and provide the work of 5 sea ports».

Further on, he declared: “In autumn we are going to pass the concession law to enable the state work safely with the private sector. We’ll be very glad to see Turkish companies as indeed reliable partners in our projects”.

He has also summoned Turkish business people to enter Ukrainian private market with their capitals, experience, and technologies.

Meanwhile, the Japanese rating agency Rating and Investment Information (R&I) has upgraded Ukraine’s position from CCC+ to B i.e. the two stairs up at once, with the stable forecast – according to Ukrainian Ministry of Finance Press Office’s Facebook. R&I noted that Ukrainian economy continues reviving with the fiscal situation improving, due to the fiscal discipline and inflation control, increase of international reserves and advancing outer shocks tolerance. The Japanese analysts have also stressed that the country’s GDP grows, inflation calms down, and the temporary balance-of-payments deficit increase will not impact Ukraine’s solvency, while its national debt to GPD ratio had fallen from 69.2% in late 2016 to 52.3% in late 2018.