Agro Perspectiva

Andriy Klyuyev: Ukraine – a potential candidate for the "new economic miracle" of the global scale

29.12.2011 12:17 "Agro Perspectiva" (Kyiv) — Now Ukraine has reached a stable rate of economic development and becomes a potential candidate for a «new economic miracle» of the global scale. This was stated by the First vice Prime Minister - Minister of Economic Development and Trade of Ukraine Andriy Klyuyev in his interview to «Kyivpost». According to him benefits of investment into the Ukrainian economy are evident through a number of transparent, clear and absolutely irrefutable criteria. Among the enabling conditions for investment into the domestic economy Andriy Klyuyev announced solvency of external and internal debt, the stability of the economy, industrial production growth and increase of foreign capital. «At a time when debt problems in Greece continue to threaten stability in the Euro zone, credit rating of Italy has been reduced and social tensions in Spain are growing, assessment by investors on the risks of sovereign default of Ukraine has no doubt on solvency of our country, and the national economy shows a steady increase of 5%» - Andriy Klyuyev said. He also noted that industrial production growth is over 8%, which affected on the financial results that are in 1.7 times more than in 2010 year. «If the 2000–2004-th years of major investments were made in real estate, dominates the share of equity investments by non-residents. Those investments in industry increased for 13.5% compared to 2010 year, and investment in the hotel business grew more than twice: for 125.6%» - Andriy Klyuyev said. He also led among the factors of investment attractiveness of Ukraine existence in our country a lot of unused land, the possibility of building a significant number of cattle farms and dairy plants - even in the continued growth of the world market for food. «High level of development of adjacent markets, severely limits their growth potential - these markets is simply not able to accept a new infusion. The agricultural sector of the economy of Western Europe has reached its limit: all land under cultivation, animal husbandry and dairy production can increase only due to technological progress» - Andriy Klyuyev said. «This example - just one sector of the economy and this situation is observed in many other industries: mining, engineering, thermal power, food, transportation. In accordance with different ratings and research, these branches of Ukrainian economy are the most attractive for investment. Only for these reasons foreign businesses simply can not bypass Ukraine», - the First vice Prime Minister said. In addition, Andriy Klyuyev among other favourable conditions of investing into the Ukrainian economy mentioned the geographically advantageous location of Ukraine and its rail-transport system, - what, according to the First vice Prime Minister, will make it possible to significantly reduce the cost of transporting goods produced in Ukraine to any country in Europe. «Add to this the availability of modern production facilities in Ukraine which are now ready to receive orders, availability of skilled, disciplined and inexpensive staff with excellent education, and you will have all the necessary ingredients to ensure the success of the business project», - the First vice Prime Minister of Ukraine stated in a article.