German companies to have investment guarantees in Ukraine, some already interested
The German government will provide guarantees to companies that will invest in Ukraine during Russia’s full-scale invasion, its economy minister said.
Investment guarantees for German companies will be applied in case of destruction of property, for instance, after Russian missile strikes in Ukraine, Robert Habeck, who is also Germany’s vice chancellor, said in an interview with ZDF television channel.
"We don't usually do this, but in this case we will," Mr Habeck said.
He added that the German pharmaceutical giant Bayer is ready to invest €60 million in Ukraine, and the construction company Fixit is to nearly double its production capacity in the country.
According to the German government official, Ukraine is seen in German as an alternative to the Russian market, which has been lost to German companies.
"We invested a lot in Russia, and the market was lost. Now we can look for other markets, why not Ukraine?" he said after visiting Kyiv on Monday.
For German companies to enter Ukraine en masse, it is necessary to create favourable investment conditions and receive guarantees from the state, he cautioned.