Ukraine and Switzerland will hold joint business missions for domestic businesses to explore opportunities for Swiss companies to invest in Ukraine, as well as opportunities for Ukrainian companies in Switzerland.
This was discussed at the Swiss-Ukrainian round table in Davos on January 17, dedicated to Ukraine’s recovery, according to the website of the Ministry of Economy.
During the meeting, Deputy Economy Minister Volodymyr Kuzio noted that Ukraine had managed to build an infrastructure of war risk insurance in 2023. Thus, MIGA has already insured the first investments, Japan, the UK and Norway have already contributed to the MIGA Sure trust fund. DFC will insure 5 projects for $380 million, EBRD is working on the creation of a mechanism to insure war-related property risks for damage to goods during transportation and warehouses. Also, the Ministry of Economy together with British partners launched a mechanism of insurance of ships against war risks. In addition, by early 2024, 14 foreign Export Credit Agencies (ECAs) have insurance terms to support Ukraine and five more are working on their implementation.
The Swiss side noted that it is working on the issue of launching a reinsurance market involving their ECAs and private companies, the report said.
“Traditionally, the largest sectors of Swiss investment have been industry, financial and insurance activities. We hope to continue this trend in the future,” Vladimir Kuzio emphasized.
During the round table, representatives of Swiss companies and business associations assured that they are ready to support feasibility studies of investment projects and join the deregulation reform. The parties agreed to prepare a list of documents that, in the opinion of foreign investors, prevent them from entering the Ukrainian market or working in Ukraine, and these documents will be considered during the meeting of the interdepartmental working group on deregulation.
In addition, the issue of participation of Swiss companies in public procurement in Ukraine was raised. Within the framework of updating the Free Trade Agreement with the European Free Trade Association, Switzerland will improve the mechanism of mutual access to the public procurement market.
Representatives of Swiss companies already operating in Ukraine noted the improvement of the business climate last year.
DAVOS, invest in Ukraine, Volodymyr Kuzio
