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UKRAINE: INVESTORS HAVE A CHOICE - UKRAINE VS THE WORLD" USUBC WORKING LUNCHEON WITH FRANCIS MALIGE
U.S.-Ukraine Business Council (USUBC) hosted a meeting with Francis Malige, EBRD, Managing Director, Eastern Europe and Caucasus, on the Topic “Ukraine: Investors have a choice – Ukraine VS the World”. This meeting took place on April 13th in Kyiv.
Mr. Malige discussed investment opportunities in Ukraine vs international investment options for business, emphasizing that it was critical for the government of Ukraine to focus on creating favorable business environment. He also commented on the low level of FDI in Ukraine (less than 3% of GDP in 2016) and talked about attractiveness factors for investors in Ukraine (location, large local markets, skilled and motivated workforce, black soil, skilled IT sector) versus hurdle factors – including lack of dividend repatriation and currency convertability freedom, issues with protection of property rights, rule of law, prospects of geostability.
He also commented on the progress of Ukrainian reforms comparing various sectors of economy, including energy sector reforms, central bank and commercial banking sector reforms and the need for the new strategy for the state-owned banks in Ukraine that constituted over 55% of the banking sector.