Kyiv International Economic Forum Comes to End
Hundreds of business leaders and officials discussed ways to increase investment in Ukraine during the Kyiv International Economic Forum
The higher risk of investing in developing countries can be justified by the potentially high future returns. This was the broad conclusion investors made during a panel discussion at the Kyiv International Economic Forum.
The General Director of an investment company, Tomáš Fiala, said that the average rate of return on his projects in Ukraine is about 35 percent.
“There are many sectors of interest to us here. There are export-oriented ones related to agriculture, processing, food production as well as IT. There are a lot of talented programmers here,” he said.
Several Ukrainian tech companies showcased some of their latest innovations.
Co-founder of Ukrainian Drone Producer, Valeriy Yakovenko showed an agricultural drone that helps farmers boost crop production and monitor crop growth — by identifying plant infestations and irrigation problems.
“Our task is to discuss how robotics can affect modern business. What processes can be optimized; what can be changed or improved. We have clients abroad. With them we mostly work in the IT sector – we process data and handle product support,” Yakovenko said.
For the European Bank for Reconstruction and Development, Ukrainian energy and infrastructure is particularly attractive.
“Ukraine is one of the strategic countries for the EBRD. As I mentioned, it is one of the countries with the highest portfolio and is actually, as of today, may become the first country for cooperation with the bank. And that is crucial for us because of the sheer size of the country. Its’ GDP. And for the obvious reason of transition of the country to a more efficient market economy,” the Managing Director for Eastern Europe and Caucasus, EBRD, Matteo Patrone said.
Investors say, to maintain economic growth, Ukraine needs to change its monetary policy, reform the courts, demonopolize key sectors of economy, and speed up digital transformation.