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Ukrainian agriculture sees investment increase despite crisis

Xinhua, November 27, 2015 Adjust font size:

Investment in Ukraine's agriculture is on rise despite a political and economic crisis that triggered capital outflow from other sectors, Agriculture Minister Olexiy Pavlenko said Thursday.

"From January through September 2015, capital investment into the farming sector rose by 18.1 percent year-on-year to 700 million U.S. dollars," Pavlenko was quoted as saying by the Agriculture Ministry's press service.

The minister pointed that the country's forestry and fishing industries were the most attractive investment destinations in the first nine months of 2015, posting an investment growth of 65.2 percent and 229.5 percent respectively.

While the total amount of capital investment into the Ukrainian economy fell by 6 percent in January-September, agriculture sector became a major driving force to partially offset the decline, Pavlenko added.

Ukraine, which has 42 million hectares of high-quality farmland suitable for growing grain and raising livestock, is targeting to boost its agricultural output by 30 percent by 2020 to become one of Europe's leading exporters of food.

To carry out this plan, the Ukrainian government plans to attract at least 8 billion dollars of foreign investment into the country's agriculture sector within the next five years. Endit