For several years, levels of foreign investment in Ukraine have remained far lower than a decade ago. Many potential private sector investors watched from the sidelines to gauge whether their perceived risks would lessen over time—enough so to take advantage of obvious opportunities in a country of 41.8 million people.
“Now we need to get the country back on the investment radar screen,” said Jason, Pellmar, IFC’s Country Manager. The country’s railroads are one area ripe for reform that could start to attract investment.
Ukraine’s railway company ( Ukrzaliznytsia, or Ukrainian Railways) is essential for getting the country’s key exports—agricultural products, metals, machinery, and ores—to international markets. However, nearly 30 years after Ukrainian independence, Ukrainian Railways remains a state-owned monopoly with an outdated level of service and highly depreciated infrastructure and rolling stock. According to many observers, the quality and reliability of the company’s services could be significantly improved.
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