Fund Blazer: Two trillion dollars in world are not invested

In the world there is a global lack of confidence, executive director of the International Fund Blazer Oleh Ustenko told ForUm correspondent.

"There is no trust at all levels between companies, between banks and companies, between the government and business. Such situation is observed not in Ukraine only, but in the whole world," he said.

Ustenko noted that according to the U.S. last week data,  two trillion dollars are free funds, accumulated in the accounts of companies, which are held in cash and are not invested. "These are huge sums, non-investment of such funds means less money are used for economic development, job creation. It is obvious that in these times of global distrust, pragmatism of each country is growing," he said.

 

According to him, Ukraine’s motto should be as follows: "There are no permanent enemies, no permanent allies. The main thing is our interests".

Ustenko noted that Ukraine has to compete with very serious players.

As for investment, he said that in 2012 the country will receive 4 - 5.5 billion dollars, allocated for the developing economies. We receive rather large investments," the director of the Fund said.
The expert noted that Ukraine has to fight for investors, including domestic ones, on a more serious basis. "They are now interested in the transparency of the judicial system, the absence of corruption, removal of administrative barriers," Ustenko said.

 

According to him, it is not enough just to speak about necessity of investments. "We are a small open economy. 50% of our GDP comes from exports ... It is necessary to play on several chess boards, Europe, Russia, the SCO, Asian destinations, as well as to think about the development of the internal market," Ustenko noted.

According to him, in order to achieve this goal, Ukraine needs a global national idea, the essence of which is forming the middle class through the stimulation of economic growth.