Japanese entrepreneurs are seriously interested in investing in Ukraine’s economy, Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine Kishiro Amae said at his last Friday’s meeting with journalists. Primarily they are attracted by Ukraine as future neighbor of the enlarged European Union. The diplomat said that, while first the Japanese started investing in Western Europe, later their capital flow was directed to the countries of the former socialist camp countries, and now comes Ukraine’s turn. The Japanese are interested mostly in Western Ukraine, because of its closeness to the enlarged EU borders. However, in Ambassador Amae’s words, this doesn’t mean that investment won’t go to other regions. “We cannot make our entrepreneurs invest in one or other area; it is up to them,” the ambassador said. However, he also stated that the Japanese’s interest is caused by two major factors: able workers and low wages compared to those in the EU. However, manpower alone is not enough for success. “In fact this is like marriage. Entrepreneurs want to learn more about their future spouse,” he said, resorting to metaphors. Meanwhile, foreign investors are attracted to Ukraine not solely by its cheap manpower and closeness to the EU, but also stable political situation and security guarantees for the future investment. “Three years ago Japanese businessmen were visiting Ukraine, but after exploring the situation they gave up and returned home,” Ambassador Amae recalls. Now, in his words, the situation has changed: businessmen act in a more serious way; they want to obtain more information on their partners and business conditions in Ukraine. When asked if the presidential campaign would impede the process of foreign investment, the diplomat said, “It doesn’t matter who will be the next president. What really matters is creating normal climate for investment.” Incidentally, November 18 the Japan External Trade Organization (JETRO) and Ukrainian Organizing Committee held a seminar in Dusseldorf on the investment climate in Ukraine. Representatives of over a hundred Japanese companies having their representation in Germany were told about Ukraine’s economic growth and the potential of investment activity in our country.
However, Ambassador Am ae also said, Kyiv should make more effort so that the Japanese capitals started bringing profits. “This is like a competition between Ukraine and Russia. Russia has in fact same investment conditions as Ukraine. Moscow is working very hard to attract foreign investment,” the ambassador stated, implying that Kyiv should demonstrate equal eagerness in this respect. Ambassador Amae stressed that Ukrainian government should create “equal, transparent, and fair conditions” for the Japanese companies already working in Ukraine as well as those willing to tie up their money for long-term cooperation.
