INTERNATIONAL INVESTORS ARE READY TO INVEST IN UKRAINE AFTER REFORMS IN BUSINESS ENVIRONMENT – ICU

According to Makar Paseniuk, Managing Director of ICU Group (Kyiv),  a number of investors are actively looking at investments in Ukraine, given the progress of reforms that the country has made in regulating the business environment.

“We’re seeing renewed interest from fund managers to invest in Ukraine.  ICU is currently negotiating with 10 direct-investment funds that are looking to make substantial investments of up to US$1 billion in the country. In addition, there are a number of strategic investors interested in the country,” he said as part of his speech at the Odesa Financial Forum on 22nd  September.

The biggest problem, according to Paseniuk, is the lack of investment vehicles currently available in the market. “Without an additional catalyst from the Ukrainian government in the form of pushing for project creation, we only have a few candidates as destinations for investment.”

“It will take a reset of the economy and further reform of the laws affecting business, banking and property rights to make Ukraine attractive to foreign investors.  To make this happen, in the short term, the government must create a mechanism to remove impaired assets in the banking system, which will mean functional and transparent bankruptcy laws.”