In line with recent world investment trends, Ukraine’s FDI inflows declined considerably in 2009 and picked up in 2010 but remain below pre-crisis levels. Financial services and manufacturing together absorb 62% of the total FDI stock. EU27 countries are the main source of Ukraine’s FDI, representing over 75% of the total stock. Foreign investors participated in a number of privatisation deals, particularly in the metallurgical sector. The 2010 government reform programme stresses the contribution of foreign investment not only as a source of external financing but also as a market transformation and competition-enhancing tool and encourages increased participation of foreign investors in the revamped privatisation process.