Preservation of normal functioning and gradual recovery of the economy, reforms and laying the foundations for post-war reconstruction of the country, decision-making within the framework of European integration are tasks that Ukraine solves in parallel, without stopping for a minute. This was stated by Yuliia Svyrydenko, First Deputy Prime Minister – Minister of Economy of Ukraine, during a dialogue with Robert Habeck, Vice Chancellor of Germany, Federal Minister for Economic Affairs and Climate Action, within the framework of the 5th German-Ukrainian Economic Forum (Berlin) on 24 October 2022.

“For us, the normal functioning of the economy is no less important than victories on the military front,” said Yuliia Svyrydenko, who was present at the Forum online.

At the same time, as the Minister of Economy emphasized, Ukraine does not stop moving along the path of reforms.

“President Zelenskyy constantly emphasizes in his addresses that we cannot stop. And this is the main priority – not to stop. The Ukrainian economy has not stopped and reforms have not stopped,” Yuliia Svyrydenko said.

So, in particular, auctions for the sale of state-owned property have been resumed. In addition, the Government recently transferred more than 800 enterprises to the management of the State Property Fund. As Yuliia Svyrydenko noted, privatization will allow enterprises to get an effective owner and investments. In addition, jobs will be created, which is especially relevant given the forecast unemployment rate of 30% at the end of the year.

Micro-grant programs to support small and medium-sized enterprises by eRobota also address both economic recovery and job creation at the same time.

In particular, the Own Business program allows those willing to start their own business and employ at least 2 people. As Yuliia Svyrydenko noted, this program is the most popular among all micro-grant business support programs introduced by the government: to date, more than 10,000 citizens have applied for participation in the Own Business program.

Yuliia Svyrydenko emphasized the crucial role of measures implemented by EU countries for the functioning of Ukraine’s economy. In particular, the decision to cancel all customs duties for a period of one year. She noted that Ukraine and its partners were working to prolong the decision:

“We discussed this with Mr. Habeck during the meeting of G7 trade ministers, where Ukraine was invited. It is necessary to prolong the decision in order for Ukraine to continue to have access to European markets.”

Speaking about decisions within the framework of European integration, the First Deputy Prime Minister emphasized: the Ukrainian Government is doing everything to implement the recommendations formulated when the decision was made to grant Ukraine the status of a candidate for EU accession. Work on the adoption of the necessary legislation is also in progress.

As part of the implementation of the Ukraine Recovery Plan, the key issues that are currently being resolved are the filling of the plan, the attraction of investors and the insurance of investment risks. So, the Advantage Ukraine platform, which has collected proposals for investors worth more than 400 billion US dollars, attracts the attention of businesses from different countries of the world, and we already have a significant number of applications. The launch of risk insurance programs will intensify the process even more.

“The number one issue is military risk insurance. And we are grateful to our partners for the fact that there is already a pilot project with the World Bank – with MIGA, which allows covering these risks at the level of 90%. And we will be grateful to our German partners if they join a similar initiative and encourage German businesses to come to the Ukrainian market. To be able to start and develop investment projects already today, even before the end of hostilities,” Yuliia Svyrydenko said. “We are very much counting on the fact that German businesses will participate in the development of our country. Any investment project requires appropriate preparation. And now is the perfect time to start the process.”

In turn, Robert Habeck, Vice Chancellor of Germany, Federal Minister for Economic Affairs and Climate Action, noted that Ukraine and its partners currently face at least four key tasks:

• Passing the winter period is a task that has absolute priority.
• Establishment of direct cooperation between Ukrainian and EU companies.
• Infrastructure reconstruction – what the Marshall Plan will be for Ukraine.
• Reforms in Ukraine and joining the internal European market.

The Federal Minister of Economy emphasized that, despite the wartime conditions, large German companies go to Ukraine and stay in Ukraine. He initiated the visit of German entrepreneurs and investors to our country. 

“We want to preserve the partnership. When the economic sphere becomes safe, Ukraine, after the russian market vanishes, will become a premium partner. This applies to both the chemical industry and other suppliers. When the reforms are successful and investments are guaranteed, cooperation with Ukraine will be worth it. Therefore, it is already necessary to think about the fact that, when the situation becomes a little more stable, a delegation of German businessmen will visit Ukraine,” Robert Habeck said.

Reference of the Ministry of Economy

The 5th German-Ukrainian Economic Forum was held in Berlin on 24 October 2022. Organizers: Association of German Chambers of Commerce and Industry (DIHK), German-Ukrainian Chamber of Commerce (AHK Ukraine), German Eastern Business Association (Ost-Ausschuss der Deutschen Wirtschaft).

Discussion panels were held as part of the Forum:

• Sustainable development in reconstruction – new materials and energy efficiency for the reconstruction of Ukraine.
• German-Ukrainian energy partnership – deepening and expanding renewable energy sources.
• Logistics and infrastructure: water, railway and roads.
• Agriculture and food – restarting the Ukrainian agrarian economy.
• Cyber security and digital solutions.

We remind you that in negotiations with partners, Ukraine is asking to prolong the decision on the cancellation of customs duties at least until the end of 2024. And also, inter alia, to prolong the decision to cancel the permit system for motor vehicles, which at one time became a lifesaver for supplies to Ukraine.