In seven months, Ukraine received $2.2B in direct foreign investment and seeks to develop its processing industry.
According to the Minister of Economy of Ukraine, Yulia Svyridenko, Ukraine’s projected investment need for 2023-2032 is estimated at $90B. At the same time, the state plans to concentrate on developing the processing industry because it provides a high percentage of added value.
Currently, the share of the processing industry in Ukraine’s GDP is 10.3%. At the same time, the processing industry shares of GDP from neighboring countries include Poland – 17.3%, Turkey – 22%, and Slovakia – 19.1%. The OECD guideline for Ukraine is 20-25%.
Svyridenko emphasized that for sustainable economic growth, Ukraine must transition from a country that exports raw materials into an exporter of finished products. In addition, to help local businesses, the government is focused on supporting exports by increasing the capacity of the Ukrainian Export Credit Agency.