Ministry of Economy of Ukraine
Participation of Korean business in Ukraine’s recovery to be another step towards strengthening bilateral relations – Yuliia Svyrydenko
15.05.2023 | 19:37 | Section for Public and Mass Media RelationsIn 2023, USD 14 billion will be needed for the rapid recovery of Ukraine. In particular, priority areas for cooperation between Ukraine and Korea are: electricity and hydrogen, production of energy equipment, development of green metallurgy, logistics, production of lithium and batteries, electric cars and urban transport. Ukraine is interested in the extensive involvement of Korean business in the implementation of joint investment projects for the reconstruction of Ukraine and the restoration of its economy.
These and other topics were discussed by First Deputy Prime Minister of Ukraine – Minister of Economy of Ukraine Yuliia Svyrydenko during a meeting with the Korean-Ukrainian Association of Trade and Industry (KUATI) and Korean companies on 15 May. The meeting was attended by such Korean companies as Viva Mobility (JJ Group), Woojin, SoftBank, SK Mobile Energy, Tera Factory, Doosan Enerbility, KEPCO, LS, Daemyoung, Hanwha, Hyundai Heavy Industries, Hyundai Corporation and TYM.
“We are facing two main tasks: do everything to win and start rebuilding Ukraine already today, without waiting for the end of the war. Projects worth hundreds of millions of US dollars have already been directed to the Advantage Ukraine platform. According to the World Bank estimates, the needs for the reconstruction of Ukraine already amount to more than USD 400 billion, and the financing of development projects, according to the Ministry of Economy estimates, is more than USD 500 billion. Investing in the development of Ukraine is a new perspective for Korean business, and we expect its participation in this process,” noted Yuliia Svyrydenko.
The First Deputy Prime Minister noted that it was about projects directly related to the reconstruction of Ukraine and projects aimed at the development of the economy: residential construction, renewable energy, battery production, shipbuilding, automotive, railway business and production of specialized agricultural machinery.
Thus, Yuliia Svyrydenko invited Korean companies producing electric cars and machine builders to cooperate, in particular, preliminary agreements were reached on the potential location of production facilities in Ukraine.
The First Deputy Prime Minister offered Korean companies to locate their production facilities also in industrial parks as well as to join the development of industrial parks in Ukraine as their management companies. Ukraine, in turn, offers state incentives in the form of exemption from payment of import duty and VAT on imported equipment for manufacturing enterprises.
“We thank the Korean side for participating in the Luhansk conference on the reconstruction of Ukraine and the conference on the restoration of Ukraine in Berlin. We also expect the Korean side to participate in the Ukraine Recovery Conference, which will be held in July in London. Ukraine has an ambitious goal, which is to create a safe environment for people to live comfortably and do business in Ukraine within 12 months after the end of the war. I hope that Korean business will actively participate in this process,” emphasized Yuliia Svyrydenko.
Reed also:
-
15.05.2024 | 17:44
| Section for Public and Mass Media Relations
UEPA National Award: apply for the entrepreneurship development award
The selection of participants for the national award for contribution to the development of entrepreneurship — Ukrainian Enterprise Promotion Awards (UEPA) — has started. -
15.05.2024 | 17:42
| Section for Public and Mass Media Relations
Government cancels restrictions on payments for imported services
The Government has cancelled restrictions on payments for the import of works and services. The decision was made at a meeting of the Cabinet of Ministers on 7 May.
-
15.05.2024 | 17:41
| Section for Public and Mass Media Relations
Government supports ratification of the Free Trade Agreement between Ukraine and the Republic of Turkey
On 7 May, the Cabinet of Ministers of Ukraine approved a draft law on the ratification of the Free Trade Agreement between Ukraine and the Republic of Turkey. Today’s decision creates the basis for completing domestic procedures for the entry into force of the Agreement. The next step is to submit the draft law for ratification by the Verkhovna Rada of Ukraine.
-
15.05.2024 | 17:38
| Section for Public and Mass Media Relations
Government earmarks at least UAH 1.45 billion for Khmelnytskyi region businesses under the Made in Ukraine policy: Yuliia Svyrydenko
The Government has earmarked at least UAH 1.45 billion for Khmelnytskyi region businesses in the state budget for 2024 as part of the Made in Ukraine policy. These funds will be used for three key policy areas: production development, stimulating non-resource exports, and attracting investment in the real sector. It is about financing business support programmes. This was stated by First Deputy Prime Minister of Ukraine - Minister of Economy Yuliia Svyrydenko during the presentation of the Made in Ukraine policy in Khmelnytskyi chaired by President of Ukraine Volodymyr Zelenskyy and a meeting with local business. -
15.05.2024 | 17:34
| Section for Public and Mass Media Relations
Made in Ukraine: drone manufacturers will be eligible for grants on favourable terms
Companies that manufacture drones will have an opportunity to receive a grant from the state in the amount of 80% of the cost of the submitted project. The preferential regime for granting funds to such manufacturers will be valid throughout the entire controlled territory of Ukraine. The Government supported the decision at a meeting on 3 May 2024.