UkraineInvest (Ukraine Investment Promotion Office) was established on October 19, 2016, by a resolution of the Cabinet of Ministers of Ukraine No. 740 as an independent advisory body with a mandate to attract and support foreign direct investment (FDI) and to help improve Ukraine's image as a secure investment destination.

UkraineInvest engages in the following activities:

  1. UkraineInvest provides a single-source office to provide foreign investors with appropriate resources, contacts and personal assistance, enhancing the ease of doing business in Ukraine to attract new investors (“Concierge Service”);[1]
  2. UkraineInvest engages in active outreach to potential partners in Ukraine and across the world for existing projects in Ukraine (Matchmaking/Outreach);
  3. UkraineInvest provides relevant, concise and actionable information to foreign investors considering entering the Ukrainian market; publicizing the developing and dynamic story about opportunities for investing and doing business in Ukraine (Awareness/Communication);[2]
  4. UkraineInvest develops partnerships with other stakeholders to support this initiative: the existing business community, foreign embassies in Ukraine and Ukrainian embassies abroad, business associations, international financial institutions, and state agencies (Collaboration);
  5. UkraineInvest identifies reoccurring obstacles facing investors and helps resolve issues in an appropriate manner through government channels (Advocacy);
  6. UkraineInvest is committed to being transparent, fair, and focused on long-term strategy and success for longer-term economic growth.

Sectors

UkraineInvest highlights Ukraine's benefits to foreign investors in its 1+4 sector strategy when promoting those economic sectors where Ukraine enjoys a distinct comparative advantage:[3]

  1. Innovation Technologies (artificial intelligence, cyber security, nanotechnologies).
  2. Agribusiness (food processing, primary production),
  3. Energy (esp. renewables and energy-efficiency),
  4. Manufacturing (clusters – automotive, aerospace, pharmaceuticals),
  5. Infrastructure (ports and airports, transportation infrastructure).

All of these are enhanced by Ukraine's rapidly developing high-tech industries which provide encompassing innovative value. Collectively, they assist with unlocking new investment and help Ukraine's integration into the global value chain of world markets.

Directors

Daniel Bilak is the Director of the Investment Promotion Office and Chief Investment Adviser to the Prime Minister of Ukraine. Daniel Bilak was appointed Director of UkraineInvest and Chief Investment Adviser to the Prime Minister of Ukraine by the Cabinet of Ministers of Ukraine as of November 1, 2016. Together with the Government Commissioner for Investments, he guides investors and advises the Prime Minister on improvements to the investment and business environment in Ukraine. A Canadian-qualified lawyer with over 25 years of professional experience in Ukraine and the region, he previously advised major international and Ukrainian businesses in the energy, agribusiness, infrastructure and technology sectors. He was most recently the Managing Partner of the Ukraine office of the global law firm CMS Cameron McKenna. He also acted as Counsel to the Business Ombudsman Institution and for many years served as a senior United Nations Development Program (UNDP) governance expert to the Ukrainian government.

See also

References

  1. ↑ "UKRAINE INVEST: New promo office aims to attract USD 1 billion in investment by 2018". bunews.com.ua. Retrieved 2019-05-19.
  2. ↑ Bilak, Daniel (17 April 2017). "Why Investors Are Giving Ukraine a Second Chance". Atlantic Council. Retrieved 2019-05-19.
  3. ↑ https://ukraineinvest.gov.ua/wp-content/uploads/2020/04/UkraineNOW_b.pdf
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