Ukraine needs to attract up to $10 billion in foreign direct investment annually to achieve substantial economic growth, according to head of Office of the National Investment Council Yulia Kovaliv.
”Today, Ukraine has reached macro-stabilization. However, in terms of GDP, we are significantly behind the neighboring Eastern European states. The main drivers that would allow us to quickly catch up in this regard are foreign investment and exports. To provide for a substantial growth of Ukraine`s economy, it is necessary to receive an average of $7-10 billion in foreign direct investment annually,” Kovaliv said at the forum titled ”Why Foreign Direct Investment is Important.”
Investors launch a whole chain of economic relations, creating the so-called multiplicative effect, the official says.
GfK Ukraine study ”Evaluation of Socio-Economic Impact of the Coca-Cola System in Ukraine” was also presented at the forum, which exemplified the investment impact on the Ukrainian economy.
In particular, the total investment in Ukraine by Coca-Cola in 2015 was estimated at $490 million, which accounted for 1% of total foreign direct investment in Ukraine as of the end of 2015. Moreover, the overall economic effect of its activities in Ukraine in 2015 stood at UAH 4.9 billion, or $182.3 million, which accounted for 0.25% of GDP,” the study said.
Earlier, foreign investors in 2016 injected in Ukraine`s economy $4.406 billion in direct investment (equity), which was $642 million, or 17.1%, more than the figure $3.764 billion in 2015, according to the State Statistics Service.