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strengthen the industrial sector, create new jobs, and fill budgets at all levels. Over 10 months, the ECA has supported ₴4.99B ($136M) in exports and insured ₴800.4M in bank financing to Ukrainian exporters to implement contracts.
At Rebuild Ukraine in Toronto, Ukraine called on Canadian businesses to invest. The deputy head of the Office of the President of Ukraine, Rostyslav Shurma, said at the conference that Ukraine provides two opportunities for Canadian investors to make money: the first is the reconstruction of the country and the economy. The second is natural resources: significant reserves of natural gas, huge potential to produce solar and wind energy, as well as hydrogen, and the largest reserves of lithium and uranium in Europe. Meanwhile, Canada's Minister of International Trade, Mary Angie announced at the conference that she will lead a business mission coming to Ukraine next year. She emphasized that "really the best Canadian entrepreneurs" will come to Ukraine as part of the mission. Soon, the Parliament of Canada should ratify an updated agreement on free trade between the countries. The Canadian business mission will arrive with specific investment proposals for the Ukraine economy and post-war recovery, saidEconomy Minister Yuliya Svyridenko.
The demand for imports can create 600 processing enterprises in Ukraine with a production capacity of $90B. According to Parliament Member Dmytro Kysylevsky, the volume of raw materials and the demand for goods in Ukraine make it reasonable to create approximately 600 processing enterprises in Ukraine. The total value of processing capacities necessary to produce goods for export and domestic consumption is estimated to be up to $90B. According to Kysylevsky , the processing industry’s contribution to Ukraine's GDP is catastrophically small. In 2022, it amounted to 8% against the OECD benchmark of 20%. Only a change in the Ukrainian economy's structure can solve the employment issue and significantly affect the population's well-being," he explained. At the same time, there is no other way out of Ukraine’s employment troubles except to create jobs by restructuring the economy in the direction of the export-oriented processing industry. However, processing grains into flour, animal feed, or bioethanol is not the extent of this envisaged production. This increase in production would also fuel exports of technologies such as mechanical engineering, aerospace engineering, and the defence industry.
A Ukrainian group of companies and Hyundai Engineering will cooperate in fertilizer production. Group DF International GmbH has signed a memorandum of understanding with Hyundai Engineering. The document provides for the creation of joint investment projects in the field of fertilizer production both in Ukraine and in other areas. In particular, it plans for the joint implementation of projects related to the construction of new chemical plants and the reconstruction of existing chemical plants belonging to the group. At the same time, it is emphasized that the parties will faithfully cooperate and make all necessary efforts to achieve the common goal of restoring Ukraine. Group DF is an international group of companies whose assets are concentrated in the chemical industry, titanium production, gas, and banking sectors. Hyundai Engineering Co., Ltd is a world-renowned engineering, procurement, and construction contractor for oil and gas processing plants and fertilizer and chemical plants.
Companies founded by Ukrainians are actively attracting international investment. Swarmer, an AI startup that makes it easier for people to operate
60 UKRAINE Country Report December 2023 www.intellinews.com