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Investment-starved Ukraine plans 'nanny' for wealthy foreigners

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AFP Davos
Last Updated : Jan 23 2020 | 5:15 PM IST

Ukraine, battling a sharp decline in foreign investment, on Thursday announced a novel plan to attract more cash inflows -- a "nanny" to look after foreigners wary of putting their money in the country.

Prime Minister Oleksiy Goncharuk told investors at the economic forum in Davos that such a nanny would be a multilingual point person within the government for big foreign investors ready to help with any issue.

Foreign direct investment (FDI) into Ukraine has plummeted since the 2014 annexation of Crimea by Mosocw and the war with pro-Russian separatists in the east which led to the rapid pullout of Russian investors.

"We are offering an investment nanny," Goncharuk told a breakfast meeting of investors at the Davos World Economic Forum (WEF) organised by the Viktor Pinchuk Foundation.

"You will have this opportunity to have a specific individual in the government who will hear you," he added.

He pledged that the government of President Volodymyr Zelensky would "show the world that Ukraine is open to investment" notably by fighting corruption, which is regularly seen as the biggest scourge for the economy.

"There is no doubt that at the highest level there is no corruption," he said.

"But this is not enough."

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First Published: Jan 23 2020 | 5:15 PM IST

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