The development of small and medium-sized businesses, including in cooperation with partner countries, is one of the priorities for the rapid recovery of Ukraine. Issues related to the promotion of investments in the Ukrainian economy and financial support for business were discussed by Deputy Minister of Economy of Ukraine – Trade Representative of Ukraine Taras Kachka with Government Plenipotentiary for Polish-Ukrainian Development Cooperation Jadwiga Emilewicz.

The meeting took place on 5 July. The Polish delegation was joined by Ambassador of the Republic of Poland to Ukraine Bartosz Cichocki, the management of the Governmental Strategic Reserves Agency as well as the Export Credit Insurance Corporation and representatives of the Polish Investment and Trade Agency.

“Rapid recovery and effective development of business, support in finding new business contacts, diversification of production and access to new sales markets – this, inter alia, is the focus of the Ministry of Economy. Together with our Polish partners, we are working on attracting investments in Ukrainian business for its recovery, including from Polish and Ukrainian entrepreneurship development funds. An important component of this process can be the insurance of military risks by KUKE, which is the Export Credit Agency of Poland,” said Taras Kachka.

The Deputy Minister added that private investments would become the basis of the reconstruction and recovery of Ukraine. However, it is important to start investing in Ukraine now, without waiting for the end of the war. War risk insurance will enable foreign investors to start cooperation with Ukrainian business and work on the restoration of Ukraine.

Indeed, KUKE is the official export credit agency of Poland. The corporation is duly authorized to provide export insurance to Polish companies with the support of the State Treasury.

The parties also discussed the issue of simplifying business in Ukraine and Poland for companies from both countries. In particular, it was about legislation in the field of public procurement. The parties discussed a plan for the coming months on how to encourage business and economic ties already today, without waiting for the hostilities to end.

In turn, the Government of Ukraine identified five priorities for rapid recovery, in particular energy, damaged housing, critical infrastructure, demining and development of small and medium-sized businesses. Among other things, Ukraine’s investment opportunities and state instruments for stimulating investments were presented at the Ukraine Recovery Conference 2023 in London. The Ukrainian side is counting on Poland’s significant contribution to the reconstruction of Ukraine, in particular, to the restoration of Kharkiv Oblast, where demining and active restoration of critical and social infrastructure is ongoing.