Ukraine needs reforms for US companies to invest in it – US Special Representative
Penny Pritzker, the US Special Representative for Ukraine’s Economic Recovery, has said that American private companies would like to invest in Ukraine but that it must implement reforms in accountability and transparency.
Source: Voice of America; Pritzker interview with Reuters
Details: According to Pritzker, US companies would like to invest in Ukrainian energy, housing, infrastructure, agriculture, transportation and mining, but Ukraine must implement accountability and transparency reforms to make such investments safe.
Pritzker notes that preparations for rebuilding Ukraine after the war with Russia should begin now, despite the fact that hostilities continue.
Since her appointment as a US special representative (14 September - UP), she has met with 30 private companies willing to participate in the reconstruction.
Quote: "The potential for Ukraine is extraordinary. It has enormous opportunities in agriculture, in energy, in metals and mining, critical minerals and in a number of different sectors. But in order to fulfil that potential, there's pre-work that has to go on, that can go on successfully now, and the Ukrainian government is up for that challenge."
"Everyone sees the opportunity and I actually have been encouraged by the private sector's interest in trying to sort this out. It requires some law changes in Ukraine. It requires some government partnership with the private sector and then it requires the private sector to function."
Background:
- On 14 September, US President Joe Biden appointed Penny Pritzker as Special Representative for Ukraine's Economic Recovery.
- Her responsibilities include working with the authorities of Ukraine, the US and partners, as well as the private sector.
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