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Ukraine seeks to lure 8 bln USD investment in agriculture by 2020

Xinhua, December 15, 2015 Adjust font size:

Ukraine is seeking to attract at least 8 billion U.S. dollars in private investments in agriculture sector within the next five years, the country's Agriculture Minister Olexiy Pavlenko said here on Monday.

"Despite the overall crisis in the economy, Ukraine's agriculture sector remains attractive for local and foreign business. We estimated that the farm sector will draw 8 billion dollars of investment by 2020," Pavlenko was quoted as saying by the Agriculture Ministry's press service.

To attract potential investors, the ministry has slashed the number of regulatory documents needed for doing agri-business from 143 to 85 and prepared a project to allow privatization of more than 400 state-controlled agriculture enterprises, Pavlenko said.

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.

According to the Agriculture Ministry, 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. Enditem