Ukraine is broadcasting a formula for peace based on universal principles, which are territorial integrity, international justice, food and energy security. With the support of the free world, respect for the principles of international law and democratic values, Ukraine already has new business opportunities aimed at the country’s recovery and economic growth.  

This was stated by First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko at the Asian Leadership Conference as part of the Ukrainian delegation’s visit to the Republic of Korea with the participation of First Lady of Ukraine Olena Zelenska.

“Despite the ongoing war, all sectors of the Ukrainian economy are working, generating thousands of projects and investment opportunities for Ukrainian and international businesses. We call on international companies to come to Ukraine without waiting for the war to end and invest in Ukraine’s recovery projects: housing construction, renewable energy, agro-industrial complex, transport and hundreds of other projects that are available on the Advantage Ukraine platform. Our goal is to create a safe environment for people to live comfortably and for business to develop in Ukraine,” Yuliia Svyrydenko said.

Ukraine’s reconstruction consists of two parts, in particular immediate assistance to restore destroyed infrastructure and housing as well as post-war reconstruction of the country. According to the World Bank estimates, the needs for the reconstruction of Ukraine already amount to more than USD 400 billion, and the financing of development projects, according to the Ministry of Economy estimates, is more than USD 500 billion. At the same time, Ukraine will need USD 14 billion for quick recovery in 2023. 

The Ukrainian government is working to accelerate demining, restore energy and housing infrastructure, and develop an effective investment risk insurance mechanism to create a favourable business climate in the country.

During its visit to the Republic of Korea, the Ukrainian delegation has already signed a preliminary agreement with the Korean Government on obtaining loans on favourable terms from the Economic Development Cooperation Fund (EDCF).

Korean businesses are interested in investing in the following sectors: electricity and hydrogen, production of energy equipment, development of green metallurgy, logistics, production of lithium and batteries, electric cars and urban transport. In addition, the Korea-Ukraine Association of Trade and Industries (KUATI) has prepared a program of immediate support for public sector enterprises in Ukraine. In particular, TYM, a leading tractor manufacturer, has already decided to donate 14 sets of heavy agricultural machinery to Ukraine as technical assistance.

In addition, the Korean Government is considering to increase its support for humanitarian demining, including the provision of more specialized equipment. It is expected that this issue will be resolved in the near future.

“Despite the war, Ukrainian businesses continue to operate and develop. Despite the logistical challenges, we continue our international trade. All this is a natural part of our resistance. We want not only to preserve the economy but also to develop it, and our ambition is to recover the country today,” emphasized Yuliia Svyrydenko.