Ukraine's Economy Minister Yulia Svyrydenko announced important steps in expanding insurance coverage to attract investment during her speech at URC-2024. She emphasized that Ukrainian legislation has been adapted to include military and political risks related to foreign direct investment, UNN correspondent reports.
We bring together all the water insurance instruments that exist in the market to show you how broad this support is so that you can see it. We are actively expanding our risk insurance offer to encourage investment by both Ukrainian and international investors, in particular to mitigate war risk insurance
She noted that these risks include political violence, restrictions on currency conversion, expropriation, as well as risks related to trade, transportation or storage of goods and financial obligations.
We strive to develop comprehensive risk insurance options and cooperate with foreign governments and expert agencies of partner countries to develop specialized insurance solutions for global investors at the national level. Recent Ukrainian legislation has expanded the powers of the National Expert Credit Agency to include insurance of direct investments and investment loans for the development of export-oriented businesses. So now we are amending the current legislation and starting to provide this insurance for Ukrainian companies to obtain insurance in April 2024
According to her, Ukraine has expanded the definition of insurance coverage to include military risks, such as military conflicts and unusual events, as well as political risks, such as legitimate government actions and illegal license revocation. Additional instruments will also be available through the newly established Ukrainian Guarantee Program as part of the investment program in Ukraine, which includes financing plans.
Thus, one of these two parts, EUR 7.8 billion, will provide financial risk coverage for a wide range of operations in both the public and private sectors
She urged investors to use this mechanism and take advantage of this support system.
During these two days, we emphasized several times that the war is not an embargo on investment, and the final figures of foreign direct investment last year showed us that 4.2 billion in the Ukrainian economy is more than in 2016-2017, and we must raise these figures
Recall
The Ministry of Economy presented an investment guide containing 95 investment projects at the Ukraine 2024 Recovery Conference in Berlin. The document contains key information for investors, experts, and analysts interested in economic policy, recovery, and investment activity in Ukraine.