Ukraine needs USD 500bn investment to reach 1991 level
2010-11-15 17:25:08
The Ukrainian economy needs USD 500 billion investment in order to restore Ukraine's GDP at the level of 1991, Council of Entrepreneurs chairman Leonid Kozachenko has said on Monday.
He noted that currently Ukraine exports mainly primary products and products with a low degree of processing or value added making the national economy vulnerable and dependent on world prices.
"In order to export finished products, such as engineering, we need to invest a lot of money," said the expert.
According to Kozachenko, in 1991 exports of high value added products was twice as much as the export of raw materials, while today raw materials are exported more than two-thirds than the products. He stressed that to change the situation Ukraine should upgrade enterprises and put them on a path of innovative development.