On February 4, 2010, the official opening of the EU-funded Twinning Project “Enhancing performance of InvestUkraine: Ukrainian Center for Foreign Investment Promotion in line with best European practices” took place.

Ms. Urike Hauer, Counsellor and Head of Trade & Economic Section of the EU Delegation to Ukraine addressed to the guests of the event with words of welcome. The guests were also greeted by Leonid Pyrozhkov, Director of EU Cooperation Department of the Ministry of Economy of Ukraine and Acting Director of InvestUkraine and the Project manager of the Ukrainian side, Olena Hantsyak-Kaskiv.  The EU-funded project will be implemented by experts from Germany and Poland.

Karl-Heinz DÜBNER, Resident Twinning Advisor told in detail about the goals, methodology, and outlined the work plan for the Project Implementation. Olena Hantsyak-Kaskiv summed up in her speech: “As a result of implementation of the Twinning Project in line with best European practices we want to get efficient mechanism which will be necessary for the government holding a course for development”.

According to Ulrike Hauer, Counsellor, Head of Trade & Economic Section, "Foreign investors provide know-how, introduce new technological standards and facilitate access to international markets for domestic companies but they expect friendly, predictable, more transparent rules-based markets and stable institutional and legal environments."

The project is expected to strengthen the operational and marketing abilities of the InvestUkraine as the central authority for development and implementation of the new FDI promotion strategy in order to emphasize Ukraine's competitive advantages as one of the biggest European markets.

Among the participants there were representatives of state institutions of Ukraine, Poland and Germany, the Delegation of the European Union, the Twinning Programme Administartion Office in Ukraine, as well as representatives of regional organizations on investment attraction, USAID project “LINC”, business community and the representatives of mass-media.

The key partners of the project are: The Ukrainian Center for Foreign Investment Promotion (InvestUkraine) as the final recipient, The National Agency of Ukraine for Foreign Investment and Development, The Ministry of Economy of Ukraine, The State Agency of Ukraine for Investments and Innovations, Ukrainian Regional Public Administrations and Regional Investment Promotion units.

Reference:

Twinning project “Enhancing performance of InvestUkraine: The Ukrainian Center For Foreign Investment Promotion in line with best European practices” will last for 2 years with the participation of experts from the Ministry of Economy and Technology of Germany and the Polish State Investment Agency.

The overall objective of the project: development and implementation of foreign investment promotion in Ukraine in line with internationally recognized practices.

The project purpose: enhancing the institutional capacities and improving performance of «InvestUkraine» to fulfill promotional functions in accordance with the leading European practices.