Ukraine and Denmark agree on a fast-track mechanism for investment
09.12.2024 | 10:20 | Section for Public and Mass Media Relations
Ukraine and Denmark have agreed to introduce a fast-track mechanism for investment that will help businesses overcome market barriers faster and improve the business climate.
The relevant Memorandum of Understanding between the two governments was signed during the Danish-Ukrainian Business Forum on November 25 in Kyiv. On the Ukrainian party, the document was signed by Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine, and on the Danish party – by Morten Bødskov, Minister for Industry, Business and Financial Affairs of Denmark.
“Ukraine needs to increase private investment for the sake of a rapid economic recovery. We are working to strengthen ties between Danish and Ukrainian companies and improve the business environment in the country. Today we have signed a memorandum that provides for the launch of the Fast-Track Mechanism between the governments of our countries, which will act as a single entry point to overcome the barriers faced by Danish companies and investors in Ukraine,” emphasized Yuliia Svyrydenko.
The Danish and Ukrainian authorities will hold regular meetings with Danish companies operating in Ukraine, where they will have the opportunity to talk about the challenges they face when investing and doing business. The parties will also establish constant communication between the governments of both countries to address pressing issues.
“The Danish government and Danish business stand side by side with Ukraine. It's not easy to start a business in your country right now, but Danish companies are eager to do so. We must support them in this endeavor. Therefore, together with Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine, we signed an agreement to assist Danish businesses involved in the reconstruction of Ukraine. Danish companies are ready to take on greater responsibility and share their knowledge and experience in many areas – from green energy or new technologies to strengthening critical infrastructure. This is another example of effective cooperation between our countries,” said Morten Bødskov, Minister for Industry, Business and Financial Affairs of Denmark.
This memorandum is a continuation of the memorandum signed between the Governments of Ukraine and Denmark in April 2024. It provided for new financing of about EUR 40 million for the Danish investment fund EIFO to facilitate new investments in the Ukrainian economy. Also, within the framework of this document, the Danish government has allocated additional funding to the Ukrainian EIFO mechanism for approximately 380 million euros to support critical infrastructure using renewable energy.
In her speech, Yuliia Svyrydenko thanked the Danish business, which continues not only to operate in Ukraine during the war, but also to invest in modernization and expansion of production. The memorandum was signed during the Ukrainian-Danish business forum. It was attended by about a hundred representatives of Ukrainian and Danish businesses.
The forum is aimed at deepening cooperation between the private sectors of both countries, promoting the localization of Danish production in Ukraine, creating joint ventures and attracting investments.
The prospects for such cooperation are mutually beneficial for both countries. After all, Ukraine's integration into the EU internal market creates many opportunities for Danish companies wishing to scale their business.
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