22 Nov 2023 18:19

Zelensky's rep calls on Canadian businesses to invest in Ukraine

MOSCOW. Nov 22 (Interfax) - Deputy Head of the Ukrainian President's Office Rostislav Shurma has called on Canadian businesses to invest in Ukraine's restoration, Ukrainian media reported quoting Shurma as saying at the Rebuild Ukraine conference in Canada's Toronto.

"We think that the Ukrainian economy should be restored, primarily through private business. However, any project will be difficult for private investors to implement due to military risks. That is why they [projects] should be based on public-private partnership," Shurma said.

There is a positive example of Germany and France, which have provided state insurance for all of their companies that invested in Ukraine, he said.

Canadian investors have two opportunities to make money, he said. The first one is through restoring the country and its economy, and the second one is thanks to Ukraine's natural advantages, he said.

Shurma cited Westinghouse, which supplies nuclear fuel to Ukrainian nuclear power plants, as an example. "We are converting one reactor after another to Westinghouse fuel. And we are determined to buy 100% of the fuel from Westinghouse only," he said.

Another possible area for investment is Ukrainian agriculture, which is a huge consumer of fertilizer, crop protection products, seeds and agricultural equipment, therefore, a market for Canadian producers, as well, he said.

"We will be interested not only in supplying these products, but also in localizing their production in Ukraine," Shurma said.

Any agricultural product manufactured in Ukraine will have advantages on the international market, he said. "Chicken produced in Ukraine is one of the cheapest in the world thanks to the natural resources of our country," he said.

Ukraine also has substantial natural gas reserves, he said, adding that Ukraine has enormous potential for producing solar, wind and hydrogen energy, and has Europe's largest lithium and uranium reserves.

"We are ready to work together with Canadian investors to develop these resources. For this, tools such as export credit agencies and guarantees from the Canadian government can be used," Shurma said.