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5.3 FDI
Prime Minister Shmygal predicted at the end of December that Ukraine will end this year with $6.5bn in new foreign investment. He has not provided a breakdown of investments. Last year, Ukraine recorded a net outflow of $868mn. In 2019, the last year before the pandemic, Ukraine recorded a net inflow of $5.9bn.
Kazakh asbestos producer is interested in Ukrainian subsoil. Kazakh company Kostanay Minerals plans to invest in Ukrainian subsoil with deposits of titanium ores, announced State Service of Geology and Subsoil of Ukraine. The head of the Geology Department, Roman Opimakh, held a meeting with a Kazakh delegation headed by the chairman Kostanay Minerals Erbol Nurkhozhayev. Foreign guests have announced that they plan to expand their business and are considering investing in Ukrainian subsoil areas with titanium ore deposits through e-auctions and purchasing the largest titanium company.
More than $860mn of investment from the US in Ukraine. This was the figure announced on gov.ua which accounted for 2% of the total investment in Ukraine. The government portal added that bilateral trade in goods and services between Ukraine and the United States for the first nine months of 2021 amounted to $5,413.5mn, 23.8% more than last year; and the export from Ukraine amounted to $2,482,7mn (+46%).
In the middle of December the first two foreign investments under the ‘nanny law’ will be submitted to the Economy Ministry for approval, Serhiy Tsivkach, executive director of UkraineInvest, told the Make in UA forum yesterday. The two investments – one in food processing, the other in insulation materials -- total $96 million. In the pipeline, he said, are 25 others, totaling $2 billion. Signed by President Zelenskiy last February the law gives
33 UKRAINE Country Report January 2022 www.intellinews.com