Large business considers agriculture most attractive industry to invest in – survey of American Chamber of Commerce in Ukraine
Agriculture, IT and energy & renewables are the most attractive industries to invest in, according to the Ukraine Business Climate Survey conducted by the American Chamber of Commerce in Ukraine.
"Three the most attractive sectors for investment: agriculture, IT and energy and renewables, Horizon Capital Chief Executive Officer Lenna Koszarny said, announcing the results of the survey during the RE:think. Invest in Ukraine forum opened in Mariupol on Tuesday.
According to the survey, 82% of respondents plan to expand their business in Ukraine over the next five years, only 5% said that they do not have such plans and 13% said that they do not know.
In addition, 88% of businesses surveyed are forecasting an increase in their revenues in 2019, one third expects growth by 10%, almost the same – by over 10% and 7% expect the increase by more than 25%.
Commenting on the plans to increase salaries in 2020, 46% of representatives of large businesses said that they plan to increase them by 5-10%, and around one third – by over 10%.
At the same time, the biggest obstacle for business in Ukraine remains the courts (74%) followed by tax authorities (51%) and law enforcement agencies (48%). Some 40% of surveyed businesses faced corruption in the context of their professional activity/while conducting business in Ukraine last year and 48% did not face it.
Koszarny said that 84% believe that Ukrainian state authorities are committed to further opening Ukraine's market to foreign investment, and 16% do not believe in it.
Around a half of businesses surveyed were doing business in Ukraine for over 20 years, and 41% - over 10 years.