Economic development agency UkraineInvest has joined the effort to build four logistics hubs with a total investment value of $1bn.

The hubs will be developed by Terwin, a Ukrainian business consultancy. Ruslan Shostak, the company’s founder, signed a memorandum of understanding with Sergiy Tsivkach, the chief executive of UkraineInvest.

Shostak said the country’s future and its hopes to join the EU required a better logistics system.

“According to experts, there is a shortage of 500,000 sq m of warehouse space in Kyiv region and another 500,000 sq m throughout Ukraine,” he said.

“Based on this, we started the construction of the logistics hub, which includes four complexes in four regions of Ukraine (Odesa, Lviv, Dnipro, and Kyiv).

“Construction of the first phase in Odesa region has already begun. The total investment in this large-scale project will amount to about $1bn.”

Tsivkach added that the state’s willingness to establish the terms of cooperation with investors as equal partners was “an important positive marker for the investment community”.

UkraineInvest said its role would include providing information, consulting and organisational support, as well as liaising with investors and troubleshooting.