Ukraine is counting on increased investment from German businesses and on the fact that modern equipment from German manufacturers will help restore Ukrainian infrastructure and modernize the economy after the war. This was stated by Yuliia Svyrydenko, First Deputy Prime Minister - Minister of Economy of Ukraine, during her speech at the sixth German-Ukrainian Business Forum, which is held in Berlin.

“The Ukrainian economy is gradually moving towards recovery. I expect GDP growth to exceed 4% this year, and next year we expect the economy to grow by 5%. Now we have a fairly stable macroeconomic situation, which is an important condition for further economic growth and investment attraction even during war.

In order to ensure a faster growth rate of the economy, we need long-term investments. It is very important for German business to understand that today Ukraine is not only a country that needs financial assistance, but also an economy that has good prospects for investors. Already 30 German companies have expressed their willingness to invest in Ukraine. I believe that German equipment can play a special role during the recovery of our country,” Yuliia Svyrydenko emphasized.

According to her, new equipment is needed both for the restoration of civilian industry and for the production of weapons and ammunition.

“Ukraine will be grateful if the German business has the opportunity to supply us with the equipment necessary for the production of military weapons, as well as the equipment necessary for the processing industry. Given that the Ukrainian Government, in view of the blocked seaports, has identified recycling as a priority branch of economic development,” Yuliia Svyrydenko noted.

According to her, Ukraine will soon need a significant number of metalworking machines and equipment for the production of construction materials, as well as equipment for the restoration of destroyed enterprises and processing of raw materials. Now Ukraine is also interested in setting up the production of products to replace imports from the russian federation and belarus. We are talking about glass, paper, metallurgical and chemical products, engineering products, etc.

The Government of Ukraine is considering options for developing joint incentive measures that would make German equipment attractive and affordable for Ukrainian industrialists. A suitable program could include lending for the purchase of equipment for Ukrainian businesses from the German EKA Euler Hermes or project financing from the German KfW Development Bank, the expansion of war insurance programs and the provision of grants from the German Government, which would cover part of the cost of equipment for Ukrainian businesses.

“The German Government already provides investment guarantees for 14 companies operating in Ukraine. We thank for the support in this area. I want to call on my German colleagues to further intensify the provision of credit guarantees and risk insurance to German companies that want to do business in Ukraine,” Yuliia Svyrydenko urged.

The development of Ukraine’s energy industry was also discussed. Yuliia Svyrydenko noted that the current focus of the Government of Ukraine’s work is the repair and restoration of generation networks, the creation of reserves of energy equipment, spare parts and fuel, strengthening the protection of energy facilities against shelling, digitization and decentralization of the energy sector, as well as demining of critical energy facilities infrastructure. 

She also thanked the German Government for their contributions to Ukraine Energy Support Fund, which was established to provide financial assistance in the restoration of the country’s critical energy infrastructure damaged by russian attacks, as well as to ensure the uninterrupted operation of the energy sector. And also for the EUR 1.4 billion winter aid package for Ukraine announced by the German Chancellor Olaf Scholz, which is currently being prepared by the German Government.