Ministry of Economy of Ukraine
Austrian businesses express their great interest in rebuilding Ukraine – Yuliia Svyrydenko
28.03.2023 | 14:15 | Section for Public and Mass Media Relations
Ukraine and Austria have agreed to hold the Ukrainian-Austrian Business Forum on May 23 in Lviv with the joint participation of the Austrian Economic Chamber and the Ukrainian Chamber of Commerce and Industry. The main thematic sections to be discussed at the event are Ukraine’s recovery, cooperation in energy, industry and renewable green energy.
This was agreed upon at an online meeting between First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko and Federal Minister for Labour and Economy of the Republic of Austria Martin Kocher.
“We have agreed to simultaneously prepare the Ukrainian-Austrian Business Forum and a meeting of the joint working group in the framework of the Ukrainian-Austrian Joint Commission on Trade and Economic Relations. Both events are scheduled to take place in late May in Lviv. The Austrian side confirmed the great interest of Austrian businesses in participating in the projects of restoring our country and cooperating with Ukrainian business. We will discuss the general conditions for foreign business in Ukraine at the level of government officials. And within the framework of the forum, we will have a broader discussion on attracting Austrian investments to Ukraine, localizing and transferring production to our territory,” explained Yuliia Svyrydenko.
According to the First Deputy Prime Minister, the Government has identified five priorities for financing rapid reconstruction, which are energy, housing construction, humanitarian demining, critical and social infrastructure and support for the private sector.
“The Government’s priority for the immediate future is urgent reconstruction. We look forward to participating in joint projects as well as to proposals for the reconstruction of certain territorial units and specific formats of Austria’s participation in post-war reconstruction projects in Ukraine,” stressed Yuliia Svyrydenko.
The parties also discussed the possibility of providing export guarantees by the Austrian Control Bank for investments in Ukraine. Indeed, war risk insurance is one of the main obstacles to attracting foreign investment to Ukraine during wartime.
In turn, Federal Minister for Labour and Economy of the Republic of Austria Martin Kocher confirmed the interest of the Austrian Government and businesses in economic cooperation with Ukraine and its possible expansion.
For reference:
Austria maintains a position of neutrality in supplying military equipment to Ukraine. The main assistance provided to Ukraine is humanitarian.
Since the start of the war, Ukraine has received helmets, protective vests and fuel from Austria. Our country also received EUR 10 million from Austria as part of the World Bank’s Second Economic Recovery Development Policy Loan for Ukraine. The funds were provided from the World Bank’s Multi-Donor Trust Fund.
Austria allocated EUR 3.8 million within the International Summit on Food Security.
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