Klitschko: Without investment, it will be difficult for Ukrainian economy to recover

27.04.2015 17:17

The key to economic revival in Ukraine is investment, otherwise it will be difficult for the economy to recover, the mayor of Kyiv, leader of the UDAR Party Vitali Klitschko said in an interview to CNN Money.

According to Klitschko, two priorities of the authorities in economic recovery are tackling corruption and attracting new investments. “Right now, people are very skeptical about investing in Ukraine, but that's also why now it is a time of opportunity. It's prime time for investors to get in at "under market prices," Klitschko emphasized. He added that IT, software development, engineering, aeronautics, pharmaceuticals and food processing are attractive to invest in.

“We have to work without a monopoly and to give a chance for every investor to invest in Ukraine," said Klitschko. For example, Ukraine has 36% of the world's arable soil, yet "if you drive through the country, people don't live, they survive there,” the mayor said.

Also, Klitschko stressed that municipal authorities of Kyiv do their best to ensure that the city is completely energy independent by next winter. “We launched energy-efficiency program that includes reducing dependency on Russian gas through renewables and other energy efficient technologies,” Klitschko underlined.

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