Ukraine’s investment appeal has decreased critically low, and dramatic measures are needed to restore foreign businesses’ confidence. This was stated by OPPOSITION PLATFORM – FOR LIFE MP Serhiy Lovochkin.
“Ukraine’s economy is losing the reserves that could have been used for development. Capital investments dropped by almost 35 percent over the first six months of the year. The holding of foreign direct investments in the same period shortened by over 2 percent or by $1.1 billion. The situation keeps deteriorating: the FDI inflow had reached mere $0.2 billion over three quarters of 2020, which is by 20 times less than in the same period of 2019. This figure is critically low,” Lovochkin said.
According to him, the reasons behind the investment appeal decline must be attributed to Ukraine’s major political problems going unsolved.
“The world had been expecting that the real peace settlement would have been reached in the Donbass in the second half of 2019, and that Ukraine would start restoring its economic strengths, including its transit potential. But this has never happened. To the contrary, our nation has been conducting unreasoned foreign policy which only aggravated foreign lack of desire to invest in Ukraine,” the politician said.
The MP believes the trust of foreign businesses must be restored immediately.
“We must stop speaking and start implementing some serious political steps in ending the war. We should restore pragmatic relations with our neighbor countries. Investors must see Ukraine as a stable peaceful country that can be invested in without fearing to lose money over political cataclysms. Not a single country in the world has grown successful economically without investments. The task of attracting them must be of top priority,” Lovochkin summed up.
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