You're reading: Ukraine, Germany’s DB sign memo on Ukrzaliznytsia transformation

DAVOS – The Ministry of Infrastructure of Ukraine and Deutsche Bahn in Davos, Switzerland, on Jan. 22 signed a memorandum on strategic partnership in the industry and the development of Ukrzaliznytsia.

“This memorandum is not yet about privatization, and not about concession, but on strategic partnership. That’s great news,” Prime Minister Oleksiy Honcharuk said, when opening a meeting of the National Investment Council under the president of Ukraine in Davos.

He noted that the country needs such assistance to improve the situation with the country’s railways and realize its logistics potential.

Honcharuk called on all investors to invest more actively in Ukraine.

“Ukraine is, perhaps, the best country and the developing economy in the world for investing at the moment,” he said.

At the same time, speaking about the memorandum on Twitter, Honcharuk noted that German specialists will reform the management mechanisms of Ukrzaliznytsia, while Ukraine will retain full control over the enterprise.

“I hope that German operational efficiency and zero tolerance for corruption will become the basis for changing the situation in the company,” the prime minister said.