The Office of the National Investment Council conducts a sector-based analysis to understand which areas may be attractive to investors in the post-pandemic period, - Olga Magaletska

On April 24, 2020, Olga Magaletska, the Head of the Office of the National Investment Council, participated in an online discussion Post-COVID World & Ukrainian Economy, organized by the Kyiv Post and DTEK.  

Anders Aslund – Senior Fellow at the Atlantic Council in Washington, D.C, and Adjunct Professor Georgetown University; Willem Buiter – Visiting Professor of International and Public Affairs at Columbia University; Jason Pellmar – Regional Manager for Ukraine, Belarus and Moldova IFC, a Member of World Bank Group took part in discussion. Brian Bonner – Chief Editor of the Kyiv Post, moderated the online meeting.

During an online discussion, Olga Magaletska noted "Let's be honest that during this pandemic period Ukraine is not on the first pages of world newspapers and may endure pandemic better than others countries."

Anders Aslund, a senior fellow at the Atlantic Council in Washington, noted the same thing, and emphasized that after the COVID-19 pandemic, the Ukrainian economy will be in a slightly better position than the economy of the European Union: "While the EU is projected to lose around 10% of its gross domestic product in 2020, Ukraine will lose 8%".

Regarding the investment climate, Olga Magaletska said that now, the Office of the National Investment Council is conducting a a sector-based analysis to understand which areas may be attractive to investors in the post-pandemic period.

"Previously we have many hopes for infrastructure sector and for air transportations. We considered regional airports as one of the most attractive sector for investments. However, after a pandemic, the world will change and the focus of interest will change. I do not think that potential investors as one of the most interesting topics will consider now regional airports. That is why we do now our a sector-based analysis. One of the world's consulting companies is involved in its development," said Olga Magaletska.

The Head of the Office also emphasized that the introduction by the Government of Ukraine of timely quarantine was a correct decision, which helped to counteract the spread of the disease in the country.

"Of course, a lot of business has been affected from the COVID-19 pandemic and introduction of quarantine. Sectors affected the most are energy, infrastructure and metallurgy, as well as the HORECA sector. The sectors on which the pandemic did not hit so hard are the IT and telecommunications, the agricultural, the financial and construction industries. The Government and Parliament of Ukraine are making many efforts to support citizens and business. In particular, a credit program “5.7.9” is already working to support micro and small businesses, programs for the creation of new jobs are being developed and a quarantine exit plan are also being developed. There is still a lot of work, but I hope that by joining our efforts we will come out of this crisis stronger," said Olga Magaletska.

Full video available at: https://www.youtube.com/watch?time_continue=160&v=SAtwrU6pLE4&feature=emb_logo

© 2020 Office of the National Investment Council of Ukraine