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Ukraine targets to double FDI inflow by 2020

Xinhua, January 25, 2017 Adjust font size:

The Ukrainian government has set a target to more than double the inflow of foreign direct investment (FDI) into the country's economy in the coming years, a senior cabinet's official announced here on Tuesday.

By 2020, Ukraine is counting on attracting at least 8 billion U.S. dollars in FDI per year compared with 3.8 billion dollars in 2016, Maxim Nefyodov, Deputy Economic Development and Trade Minister, told reporters.

He said that the goal could be achieved only if the East European country implements the stalled reforms and continues further modernization of the economy.

This year, Ukraine hopes to attract at least 4.5 billion dollars of international capital injections, Nefyodov added.

Ukraine's investment climate has slightly improved last year due to the overall economic recovery and the abolishment of 367 regulatory legal acts that have created obstacles for doing business.

In a latest World Bank's Doing Business ranking, Ukraine climbed by three notches to the 80th place, advancing in terms of paying taxes, protecting minority investors and enforcing contracts. Endit