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Ukraine is still attractive for foreign investors, acting prime minister says

“Investors continue to work in our country, moreover, they increase volumes of investments,” Arbuzov said

Acting Prime Minister Sergei Arbuzov ITAR-TASS/Maxim Nikitin

Acting Prime Minister Sergei Arbuzov

© ITAR-TASS/Maxim Nikitin

KIEV, February 14. /ITAR-TASS/. Foreign businesses have not been frightened off by the political crisis in Ukraine, which is still seen as an attractive country in terms of investments, the press service of the Ukrainian government quoted acting Prime Minister Sergei Arbuzov as saying on Friday.

“Investors continue to work in our country, moreover, they increase volumes of investments,” Arbuzov said.

He reminded that there were plans to launch the manufacture of electric locomotives in Zaporozhye jointly with the Czech company Skoda Transportation. In Dnepropetrovsk, a lithium ion battery production line production line has been recently commissioned in collaboration with a Chinese company.

According to Arbuzov, Ukraine also hopes for more close investment cooperation with Russia in the current year. “First investments from Russia will be coming already in 2014. It has become possible thanks to the Ukrainian-Russian agreements reached in late 2013,” he said.

According to Ukraine’s State Statistics Service, direct foreign investments in the country nearly halved in 2013 on the previous year to 2.86 billion U.S. dollars.

As of January 1, 2014, direct foreign investments in the Ukrainian economy reached $58.17 billion. The country’s biggest investor was Cyprus ($19.036 billion), Germany ($6.292 billion), the Netherlands ($5.562 billion), and Russia ($4.287 billion).

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