Foreign investment in Ukraine in the 1st quarter of 2013, compared to the same period last year, increased by 76%, Prime Minister Mykola Azarov told the Cabinet meeting on Wednesday.

"According to the State Statistics Service, in the 1st quarter of the current year foreign entities invested in the Ukrainian economy nearly $1.6 billion. This is 76% more than in the 1st quarter of last year. But the total amount of foreign investment as of April 1, 2013 amounted to about $56 billion, or $1,227 per capita. This is obviously not enough for a country large as ours. And this is obviously not enough for large-scale modernization of our economy," Mykola Azarov stated.

So he tasked the Ministry of Economy and the Ministry of Foreign Affairs to intensify system work for promoting Ukraine in the global financial markets.

"In Europe there are few countries that for three consecutive years in very difficult conditions wound show small but steady economic growth and development of the internal market. And Ukraine demonstrates the growth of retail sales by 50%. Practically none has this but us. Thus, the facts prove that the government's economic policy is consistent and correct, and this should be displayed in all ratings of Ukraine," the prime minister said.

He added that the holding of the business conference ABC: Ukraine & Partners in Kyiv on June 13-14 must boost the attraction of foreign investment in Ukraine.

Ukrinform