According to the top manager, the investment community perceives the course taken by Ukraine as the right one. At the same time, the question arises as to what the country will have achieved in twenty years at such a pace, and where it will be compared to its neighbors. “Will we succeed in catching up with them, or should we move more aggressively in order to attract investment?” he specified.
Andrey Gorokhov is confident that Ukraine has the potential to attract investment. “The positive experience of three billion-dollar Eurobonds placement confirms investors’ intentions. Likewise, the forecasts in GDP growth look optimistic: within the next 3–5 years, our economy will grow by 2–6%,” said the CEO of UMG INVESTMENTS. He stressed that the domestic economy is already showing signs of growth despite the upheavals of the crises in recent years.
“We have to move forward faster on the implementation of reforms,” the top manager noted and stressed that for business, changes in the laws on privatization and concessions, as well as the lifting of the moratorium on the sale of land, are the number-one tasks on the agenda.
Also, Andrey Gorokhov drew attention to the need to deregulate the work of banks on toxic pledges. “It is necessary to take measures so that the banks can work on toxic assets more efficiently,” he added. Andrey Gorokhov also emphasized the need to remove any artificial restrictions on capital flows in Ukraine.
“One can invest in Ukraine, but carefully. Ukraine is an emerging market, and each market has its own characteristics. For successful investment, local professional teams are needed to help the external investor take into account all the features of the region,” Mr. Gorokhov summed up.
UMG INVESTMENTS is an investment company focused on business development in the commodities and manufacturing sectors. It was founded in 2006 by SCM Group. The company’s portfolio includes three main business areas: Mining , Recycling and Trading. The total value of UMG’s portfolio of companies is estimated at $400 million.