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Investors won't come to Ukraine without a predictable tariff and tax policy, according to Metinvest.

"Метинвест" сообщает, что инвесторы не будут вкладывать средства в Украину без четкой тарифной и налоговой политики.

The head of the CEO office at "Metinvest" highlighted that the mining and mineral processing business is quite capital-intensive, which means that potential investors need to inject significant funds into the development of the enterprise right from the start. Only large international players have access to such resources, and for them, stability and predictability in government policy are crucial.

"Ukraine is rich in minerals, but this industry requires billions of dollars in investments. Will medium or small businesses enter this sector? No, it has to be large corporations. For instance, developing a mine similar to Pokrovskaya requires about $10 billion. Will there be a company willing to invest such amounts when transportation tariffs, electricity costs, and taxes are constantly changing? To attract investments, there must be some stability," emphasized Vodoviz.

He also pointed out that projects in the mining sector have a very long payback period: according to Ernst&Young, the time from obtaining a license and completing the necessary documentation to launching a beneficiation plant averages 18 years.

"The best indicator of whether we are doing well in the country regarding the mining industry is how many new mines and beneficiation plants have opened in Ukraine over the last 20 years. Yes, we have some projects in the justification stage. But ready ones? Zero. That is the answer," Vodoviz noted.

According to his assessment, currently, Ukrainian businesses are investing on their own in the development and maintenance of enterprises.

"Investments in the mining industry are primarily our investments. After all, Ukrainian businesses are export-oriented. We sell abroad and invest back here. Every year, we invest an average of $1 billion. Are there many businesses that can invest such amounts just to maintain current operations?" asked the CEO of "Metinvest."

He emphasized that the share of small and medium-sized businesses in Ukraine's GDP is only 20%.

"The rest is industry. And we live thanks to what industry creates, not small and medium businesses," he added.

Vodoviz underscored that operating in wartime adds difficulties for businesses, and the government must take this into account, particularly in the process of integrating European legislation. Currently, officials claim they cannot influence the Europeans' stance, despite the challenging situation in Ukraine.

"We have repeatedly noted that Brussels' position is very strict. The EU sets clear requirements for Ukraine: either you adopt European legislation, or you don't, and there is no room for negotiation. But we are at war! The economic situation is entirely different. For example, European metallurgical plants receive grants for environmental modernization. We do not have that. And we cannot meet European standards. So I urge government officials to pay attention to this," Vodoviz summarized.