Head of the National Investment Council Boris Lozhkin believes Ukraine can attract up to $3-5 billion in investment in 2017 should it demonstrate a progress in implementing the reforms.
”I hope that next year the National Investment Council will be able to implement a number of serious institutional initiatives, as well as to attract $3-5 billion. We possess the potential and opportunities for a good start,” Lozhkin wrote on Facebook.
Ukraine`s successful future is based on a sound and competitive economy. A strong economic growth is impossible without significant inflows of foreign investment, according to Lozhkin. He noted that the attracted capital would help prop up the required GDP growth at a level of 6.5-9% per annum.
”But the problem is that Ukraine is not able to propose shelf-ready investment projects, in which, let`s say, $5-10 billion can be invested,” Lozhkin said.
He also noted that it was important not only to find investors, but also to create ”an ecosystem that is capable of producing large-scale investment projects.”
”And here it is necessary to change an approach towards investors across the whole vertical power structure. The state should become client-oriented, so that it does not only inform investors where to invest money, but also proposes projects and solutions and, of course, oversees their implementation,” Lozhkin wrote.
Earlier, Lozhkin noted that $120-200 billion had to be attracted additionally by 2036 to ensure an annual GDP growth in Ukraine of 6.5-9% during 2017-2036.
As UNIAN reported earlier, on August 29, the president of Ukraine announced the establishment of the National Investment Council, which would be chaired by Lozhkin. The Council is responsible for attracting and supporting investment, as well as creating a favorable investment climate in the country.
Foreign direct investment in Ukraine`s economy (non-resident shareholders` equity) as of July 1, 2016, amounted to $44.791 billion, marking a 5.4% rise, or $2.282 billion, compared with the beginning of the year ($42.509 billion).