A Risky Country with a Big Potential – American Chamber of Commerce publishes latest Ukraine Business Climate Survey results
Kyiv, October 29, 2019
The American Chamber of Commerce in Ukraine, in partnership with Citi Ukraine, presents the results of its Business Climate Survey. The Survey was conducted among top managers of American Chamber member companies and will be presented at the Ukrainian investment forum in Mariupol.
110 top managers of member companies took part in the Survey. 82% plan to expand their business in Ukraine over the next five years.
88% of businesses surveyed are forecasting an increase in their revenues in 2019, 65% are increasing investments in Ukraine and 64% are reporting an improvement of the investment climate.
Ukraine remains most attractive for investors due to its talents (51%), low labor costs (51%), and considerable access to the European market (44%).
84% believe that Ukrainian state authorities are committed to further opening Ukraine’s market to foreign investment.
Agriculture (85%) remains Ukraine’s most attractive industry to invest in, followed by IT (73%), and energy & renewables (45%).
The biggest obstacle for business in Ukraine remains the courts (74%) followed by tax authorities (51%) and law enforcement agencies (48%)
“Businesses are cautiously optimistic about the new investment climate in Ukraine, with 82% of the American Chamber of Commerce members planning to expand their business in Ukraine. Rule of Law is top of the list of areas that requires urgent improvement. Key investment sectors remain agriculture, IT and Renewable energy. Ukrainian authorities should focus on further boosting the IT and Renewable Energy sectors, there are concerns of new legislation that could hinder further growth in these sectors.”, commented Andy Hunder, President of the American Chamber of Commerce in Ukraine.
The American Chamber of Commerce in Ukraine represents more than 600 member organizations, the biggest investors and the largest multinationals operating in Ukraine. Since 1992, the Chamber has been delivering the voice of business in Ukraine.
For more information, please contact:
Tetiana Komanytska, Communications Assistant, American Chamber of Commerce in Ukraine
+38 050 385 2008, email@example.com