Agro-industrial complex is of great importance for Ukraine, forming a quarter of GDP, and the lion's share of exports, first vice Prime Minister of Ukraine Serhiy Arbuzov said during discussion "Investing in the agrarian sector of Ukraine. Feed the world together" as part of the 1st International Annual Business Conference ABC: Ukraine & Partners, ForUm correspondent reports.
According to official, it creates conditions for improving the financial position of the industry for the emergence of new jobs.
He noted that every 4th hryvnia of export earnings is provided by agriculture. "Agribusiness companies provide a significant portion of export earnings. This allows creating conditions for improvement of the agricultural enterprises and creating tens of thousands of jobs. It is clear that the investment potential of the agricultural sector is not fully implemented. Therefore, the government is set to substantially increase foreign investment in the industry," first vice Prime Minister said.
"We have managed improve the investment climate in the agricultural sector: for example, the growth rate of capital investment in the sector over the last seven years was 192%, whereas in the economy - 115%. Foreign investment is growing. In 2012, it grew by 6.4%, about 60% of this amount is directed at the development of agricultural production, including cereals. This year, investment is expected to be increased up to $3 billion," Arbuzov added.
He specified that based on private investment, powerful sector of poultry industry has grown, which not only meets domestic demand, but also working for export. "Foreign loans are expanded and attracted to the sector.
In addition, for the entire period of the global economic crisis, the number of domestic companies, IPO was carried out only by farmers - it means a lot. "In the next 5-10 years, Ukrainian agricultural enterprises can attract $ 20-30 billion investment.
The Cabinet has retained a special tax for industry. However, its potential is still far from being fully implemented. For further development, the Agriculture Ministry has extended the memorandum of understanding with the grain traders," the official noted.
In general, the two main goals of the country in the agricultural sector are to maintain the country's position in traditional markets, and expand the geography of sales. "Ukraine is already involved in ensuring global food security and intends to do so in the future," Arbuzov concluded.
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