Senior Ukrainian Government officials met a group of British firms in London today to highlight investment opportunities there as the country prepares for the Euro-2012 football tournament it will jointly host with Poland.  

 

The conference was organised by Ukraine's European Business Association and the UK’s All Party Parliamentary Group on Ukraine and companies heard that Euro 2012 was a perfect opportunity to invest in Ukraine, both for the tournament for the sustainable infrastructure needed to support the long-term transformation of the country's economy.

 

Government estimates put the overall infrastructure investment needed for Euro 2012 in Ukraine at a staggering $25 billion (£12.67 billion), of which $20 billion (£10.13 billion)  is expected to come from the private sector.

 

In addition to the construction of stadiums, the investment will focus on requirements in the transport, municipal and tourism sectors.

 

Guest of honour at the conference, HRH Prince Michael of Kent, said: "England's leadership in the business of international football, and the United Kingdom's experience and knowledge of hosting major international events, provides the Ukraine, together with Poland, with an ideal potential partner to advise on the planning and execution of the 2012 Championships."

 

Ukraine’s Vice-Prime Minister Hryhoriy Nemyrya saw long-term benefits from investing in the tournament.

 

He said: “Hosting the 2012 football championships is stimulating investment in infrastructure and supports Ukraine's continued economic development.

 

"A showcase for our cities, culture and hospitality, as well as the best football talent in Europe, it will provide a legacy that will endure long after the tournament is over.

 

The conference was hosted by the European Bank for Reconstruction and Development (EBA), whose President, Jean Lemierre, told delegates, “What is important now is that Ukraine attracts the sort of high quality sustainable investment that will make Euro 2012 tournament a great success and also provide the Ukrainian economy with the infrastructure it needs for the 21st century.”

 

Malcolm Wicks, Britain's Minister of State for Business, Enterprise and Regulatory Reform said: "Euro 2012 is a chance for us to celebrate the friendship and the commercial ties between our two countries.

 

"It's a unique opportunity to showcase Ukraine to the rest of Europe, and to the world.

 

"The potential gains are enormous: economic, social and cultural, as well as the obvious sporting legacy. It’s also a chance for our two countries to work on some really important projects that will help prepare Ukraine for the moment, in four years time, when millions of football fans will be watching with keen interest, myself included"

 

EBA Executive Director Anna Derevyanko said: “The business community perceives Euro 2012 Championship as unique opportunity for boosting economic development of Ukraine and attracting sustainable investments.

 

"We believe that only with substantial support of foreign and local investors Ukraine will be ready to successfully hold this event and use the opportunity for infrastructural changes”.

 

In Ukraine, the tournament is being played in six cities: Kyiv, Dnipropetrovsk, Lviv, Donetsk, Kharkiv and Odessa.

 

New arenas are being built in all of these sites.

 

Host cities are planning airport refurbishments or expansions.

 

A significant increase in investment is planned for the transport infrastructure, first of all roads and railways.