“Japan will invest in Ukraine. But miracles won’t happen; we need to work hard” – Alona Lebedieva

Relations between Japan and Ukraine are entering a new stage of development. At the Conference on the Reconstruction of Ukraine in Tokyo, government officials managed to sign 56 documents on cooperation with the Japanese side. According to Alona Lebedieva, owner of the Ukrainian diversified industrial and investment group of companies “Aurum Group”, Japan, which is one of the largest economies in the world, and if it sees potential in Ukraine, we simply must not lose this trust.

The Japanese government has eased the restrictions for the business community on visits to Ukraine, which were introduced because of the war. There are already reports of a review of the tax legislation, the allocation of funds for the reconstruction of Ukraine, and budget support. All this indicates that Japan and Ukraine have set a course for deepening and expanding ties. But it is important to understand that this is not absolute. We also have a lot to do for this“, – says Alona Lebedieva confidently.

She notes that unresolved issues in Ukraine, such as corruption, pressure on businesses, lack of rule of law, etc., still persist. “Without addressing these risks promptly, the partnership with Japan, as well as attracting other foreign investors, is at risk“, – warns Lebedieva.

In Tokyo, there are also plans to involve the private sector in supporting Ukraine. As the government focuses more on financial assistance, the private business sector can participate in the recovery and reconstruction of Ukraine.

Among the signed documents:

  • Intergovernmental agreements, memoranda, agreements between businesses, and agreements with local government representatives.
  • Convention on the Avoidance of Double Taxation.
  • Grant agreements for the implementation of recovery programs.
  • Intergovernmental memorandum of cooperation in the field of education and technology.
  • Memorandum on preparation for the modernization of gas compressor stations.
  • Documents in the field of energy, telecommunications, infrastructure construction, and ecology.

It’s worth noting that in the first months of 2024, Japan has become the largest donor of financial support to Ukraine. In the first quarter, it is expected that the assistance will reach around 2.2 billion dollars. This signifies a significant commitment from Japan towards Ukraine’s development and recovery.