According to the information of the State Statistical Service, last year the foreigners invested almost 6 billion dollars into business in Ukraine. It is 6.2% higher than previous year. However, despite such positive numbers the question of conducting business in Ukraine is still open for many potential investors. We are still the country with the high risk and we are only at the 74th position in Political Risk Atlas, next to East Timor and Burkina Faso. So what are the possibilities for business in Ukraine? Is it worth to invest money into the economy of our country?
It is the most common question the foreigners ask us – people with whom we have business and personal relations and communicate on economic matters. We should admit that it is hard to answer. First of all, because our partners are used to count their money and never to spend them without detailed calculations. Sometimes our persuasions are not sufficient. In this case we use official information paraphrasing the promise of our leaders to simplify all procedures to arrange and conduct business in Ukraine in a way convenient for the foreigners.
We have to agree with it. The decisive step towards the foreign investors was opening of the branch of European Investment Bank in Kiev and definition of the priority directions for investments into business in Ukraine (transport infrastructure, energy sector and large ecological projects).
At the same time the state leaders acknowledge their interest to create the conditions for receiving the investments into business in Ukraine from any country and direct them into any industrial or agricultural sector. For example, the President of Ukraine during his last international visits to the Eastern countries offered to invest the money into the recreational projects in the Crimea, and the Prime Minister proposed to invest funds into the light industry, aerospace sector and road construction, thus, developing your own business too. As our leaders say, we have all the conditions and necessary guarantees for this in Ukraine.
It is known that the main directions of the business in Ukraine are metallurgical, chemical industries, mechanical engineering and food industry, mining and coal industry, oil processing and fuel-energy complex. Are there any possibilities and is it worth to invest money? Each industry should be individually examined.
The experts are sure that today only Ukrainian agricultural sector of business in Ukraine is attractive for the foreign investors. First of all, you could earn money there without problems. It is known that having almost the most fertile land in the world and the favorable climate, Ukraine differs from the European countries by the relatively low level of agriculture. We have to import even fruits and vegetables. It is not a secret that to improve the situation in the agricultural market the country will need the big investments into the business of Ukraine, which could be received only from the foreign investors interested in such business.
Working with the foreigners we daily receive evidence that hotel business is still the promising business in Ukraine. It has enough space for home and foreign investors. There is the decent situation only in capital and in some large cities. Though, for example, in Kiev there are only 3 hotel rooms for 100 residents. In the Western Europe cities there are 15 in average. It is also not a secret that most part of our hotels yield to the European hotels in terms of accommodation conditions and service level. The situation is even worse in the regional and district centers. You won’t be able to accommodate in the decent hotel, as since the Soviet Union these facilities were only a little bit renovated.
One more direction to conduct business in Ukraine, which by expert opinion is worth attention, is waste treatment industry. It is known that everybody is able to earn money recycling the waste in the developed countries. However, there are no such plants in many cities of Ukraine. The unprocessed waste is daily brought to the nearest landfills affecting the country environment in the same way as before.
The list of the challenging ideas for business in Ukraine is a long one. We haven’t mentioned the entertainment complexes, fashion industry. The processing industry is also waiting for the investments. Today business in Ukraine has broad prospects for foreign capital. You should visit our country to see it.
You can also use the online order forms for translation of the necessary documents, for tour organization services in Ukraineу or download the order forms and send them to us by mail.
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Company: Ukraine for Business (UB)
Address: Kyiv, Ukraine
Phone: +38 050 609 27 99
Phone: +38 097 361 30 19
Ukraine for Business (UB) provide the services to the foreigners in the sphere of business and educational tourism, traveling, organization of conferences, translation and interpretation.