(New York) Ukrainian President Volodymyr Zelensky addressed the New York Stock Exchange on Tuesday to promote his country’s attractiveness for foreign investment, even though the dispute with Russia shows no sign of an imminent conclusion.
Posted at 11:31 a.m.
“We are rebuilding our economy,” explained the Head of State in a pre-recorded speech broadcast on the giant screen of the New York Stock Exchange (NYSE). “We offer you and your businesses the opportunity to work together for the benefit of all of us,” he said.
Ukraine’s gross domestic product (GDP) contracted by 15.1% in the first quarter year on year, then by around 40% in the second quarter, according to the Ukrainian central bank (NBU).
The intervention of Mr. Zelensky, a few seconds before the opening of the stock market session on Tuesday, is part of a promotional campaign, called “Advantage Ukraine” and intended to attract foreign companies to the country.
“Ukraine is the story of a future victory”, launched its president, “a chance for you to invest today in projects worth several hundred billion dollars, to share the victory with us”.
Ukrainian Prime Minister Denys Chmyhal estimated in early July that rebuilding Ukraine would cost around $750 billion.
Prior to the Russian invasion, US private investment in Ukraine totaled just $532 million in 2021, although it was up 32% year-on-year, according to the US administration.