Largest inflow of investment expected in agriculture, IT, infrastructure, energy, chemical, pharma industries – Economy minister
The bulk of investment in the coming years would focus on agriculture, IT, infrastructure, energy, chemical and pharmaceutical industries and partially on the aerospace and food industries, Minister of Economic Development, Trade and Agriculture of Ukraine Tymofiy Mylovanov has said.
"I would single out these sectors as sectors where we expect investments," he said during the presentation of the economic strategy on Monday.
For each industry, investment inflows from $5 billion to $10 billion are expected, while in general the strategy is based on expectations of a 40% increase in GDP by 2024 and an increase in foreign direct investment to $50 billion over five years.
"Another issue is where these investments will come from. Now the Middle East has the money, as well as global pension funds, if they can be attracted," Mylovanov said.
He said that the depreciation of fixed assets in Ukraine reaches 60%, while in Slovakia – 35%, Belarus – 38.8%, and Moldova – 42.9%.
According to him, the main idea of the economic strategy is to create a land market, a capital market, investment in human capital – education, healthcare and the creation of a labor market, as well as investment in technology.