Belgian investors ready to enter Ukrainian energy market
Despite ongoing military actions in the East of Ukraine and the Russia’s aggression, Belgian investors went through the hot phases of the Anti-Terrorist Operation (Ukrainian Military Operation in the Donbas) and continue to work in Ukraine, stated by Luc Jacobs, Ambassador Extraordinary and Plenipotentiary of the Kingdom of Belgium to Ukraine.
According to Jacobs, a difficult period with the security situation and lower economic activity in Ukraine did not prevent the Belgian companies from continuing their business.
"Our companies are located throughout the territory of Ukraine, from west to east. They did not leave Ukraine. They remained in the country. I’m stating that Belgian investors are increasing the ratio of their investments and even new investors are entering the market,” Jacobs said in an interview with Ukrinform news agency.
He further added: “The difficult period of security policy and lower economic activity did not contribute to the development of our companies. However, now, when economy is recovering, when we see some stability, economic activity is also recovering. It helps our companies to stay afloat, especially as far as investment and in commerce are concerned. This is encouraging. Therefore, I hope for the best.
Jacobs expressed optimism regarding Belgian business interests in Ukraine’s energy sector. "You will see more Belgian investors and the gradual opening of the market with the further implementation of reform in the energy sector. I already see a significant interest in this sector.”
To improve the work of existing foreign companies in Ukraine and to attract new companies, Jacobs recommends that the country continue reforms aimed at eradicating corruption and reduce the influence of the human factor in making decisions on investments and imports. These decisions could involve customs, the Fiscal Service or various inspections. He especially looked forward to implementing the electronic document management system.
"The doors of Ukrainian authorities at a high political level, at the Ministry level, are opening. Our partners are listening to us attentively. It is an important and very positive factor. Thus, we feel that our steps are supported. This policy of openness, transparency and effective implementation of reforms should also penetrate to the periphery, where our companies work, and not remain at the level of the capital,” the Belgian Ambassador stressed.
It was earlier reported that American Companies companies Sigma Bleуzer, Aspect Holding and Energy Transfer are interested in investing in Ukraine’s mining industry. The State Service of Geology and Mineral Resources of Ukraine offered US investors about fifty prospective shelf and land oil and gas areas .