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Ukraine plans to attract foreign investment in the construction of elevators on the borders with the European Union

01 June
2023

A draft law has been registered in the Verkhovna Rada that will help attract foreign investment in the development of land corridors for the export of Ukrainian agricultural products, which will contribute to the preservation of world food security in the conditions of the unstable operation of the Black Sea Grain Initiative. The head of the parliamentary committee on agrarian and land policy, Oleksandr Haydu, told about this, Ukrinform reports.

There are ideas to attract funds from foreign partners and investments for the construction of railway elevators, automobile multimodal complexes, grain containers. This is necessary to simplify logistics and export Ukrainian products. We want to foresee the relevant directions at the level of the law," said the People's Deputy.

According to him, the draft law No. 8025 is currently registered in the parliament, which is aimed at defining special mechanisms for supporting the field of agriculture in the conditions of martial law, including the attraction of foreign investments for the construction of railway elevators, automobile multimodal complexes, grain containers.

The document envisages the introduction of separate areas of support for the capital construction of export infrastructure, in relation to the renewal of the fleet of grain trucks, grain containers, loading and unloading equipment, as well as the introduction of insurance for the storage or processing of agricultural products against risks in the form of hostilities and military operations.

In addition, the project creates a support mechanism for manufacturers of domestic machinery and equipment (grain trucks, trailers, containers) by purchasing it with subsequent free provision for use by agricultural producers, as well as providing it to international non-profit organizationsanization of the status of operators of multimodal transportation in terms of export of agricultural products.

In conditions where the work of the "grain initiative" is unstable, we need to consider other ways of supporting the work of farmers. The document will make it possible to significantly improve the situation in the direction of the export of agricultural products of Ukrainian production, to support domestic producers and to attract international assistance for clearly defined mechanisms," Haydu summarized.

The leaders of the G7 countries recognize the importance of continuing to export Ukrainian grain to the world market, in particular, using the "corridors of solidarity" and the Black Sea Grain Initiative.

In late May 2022, the European Union launched the "Solidarity Lanes" initiative to help Ukraine export agricultural goods via all possible routes — including rail, road and river transport — amid disruptions caused by the Russian war.