Partners from the European Union do not rule out that Ukraine may join the EU’s Investment Plan, however, the main condition is the successful adaptation of Ukraine’s economy to regulations and standards adopted in the EU and the accelerated modernization of the economy.
Boosting Ukraine’s participation in EU projects was discussed by Ukrainian delegates, who attended the 26th Economic Forum of Central and Eastern Europe in the Polish city of Krynica Zdroj, along with representatives of European institutions, politicians and diplomats. The Ukrainian delegation included industrialists and entrepreneurs, as well as activists of the National Forum “Transformation of Ukraine.”
Joining the so-called “Juncker plan” is in Ukraine’s interest. This is a five-year European Union Investment Plan worth EUR 315 billion. It was proposed by President of the European Commission Jean-Claude Juncker.
The project is based on injection of EUR 21 billion in seed money in the economy in order attract private investment, which should make up most of the target sum.
“Our goal is to join the project. EU partners do not rule out this, but we need to do our homework in the end: adapt the economy, create incentives for growth of business and investment activity, fully switch to international safety, quality and production standards,” President of the Ukrainian League of Industrialists and Entrepreneurs (ULIE) Anatoliy Kinakh said.
He sees that this “slightly open” window of opportunity is an excellent incentive for quicker and more efficient reforms in the country. What is more, there are achievements in that direction – a bailout program developed by the Anti-Crisis Council of NGOs to overcome negative economic consequences and a concept paper for transformation of the state, which was prepared by the National Forum “Transformation of Ukraine.”
The Transformation of Ukraine Forum includes representatives of the Ukrainian state institutions, politicians, the clergy, businessmen, public figures, EU representatives, foreign experts and diplomats. One of the members of the Supervisory Board is an active lobbyist of Ukraine – Jerzy Kwiecinski, who is Secretary of State in Poland’s Ministry of Economic Development and a member of the Cabinet of Ministers of the Republic of Poland. He helps facilitate not only relations with the government but also with the parliaments of neighboring states.
Polish experts are ready to share their experience, participate in the elaboration of the concept of a program for the development of Ukraine. They also expressed their intention to continue support of Ukraine’s position regarding the deepening of cooperation with the EU, greater integration under joint projects.
“But we do not focus only on friendly partners from Poland. We use the ULIE’s representative office in Brussels to be in constant dialogue directly with the leadership of the EU, the European Parliament, the European Commission, and others. Partners from BusinessEurope, the largest business association in Europe, have also been engaged in lobbying Ukrainian business’ interests and strengthening their contacts with European colleagues,” the ULIE president said.
The ULIE signed a memorandum of cooperation with BusinessEurope, which involves, among other things, joint monitoring of EU programs and the participation of Ukrainian businesses and NGOs in them.
“These are great and yet unrealized opportunities. We should do our best and avail ourselves of these opportunities,” Anatoliy Kinakh said.
European officials, heads of national government, businesspeople gathered for one of the most important economic and political events in Central and Eastern Europe, the 26th Economic Forum, held in the Polish city of Krynica Zdroj on September 6-8. The event focused on the EU’s unity.
They discussed macroeconomics, management, international politics and security. This is a unique opportunity to reach preliminary agreements on major subjects of economic life, energy and others.
How it is possible for Ukraine to participate in the global Fourth Industrial Revolution? How to attract investment to the country? The answers to these strategic questions will be given by world-renowned economists and reformers during the 3rd Kyiv International Economic Forum.
The 3rd Kyiv International Economic Forum (KIEF) under the slogan “Ukraine on the eve of the Fourth Industrial Revolution” will take place in Kyiv on October 6-7, 2016. As compared to the first two Forums, both the subject and scale of the event have been changed. The subject of KIEF 2016 will be maximally close to the practice of attracting investment to Ukraine and its participation in the Fourth Industrial Revolution, which has become the keynote of this year’s World Economic Forum in Davos.
At the next turn of the global development associated with the manifestation of the Fourth Industrial Revolution, countries of the world compete for a place among those who possess new technologies. Ukraine can’t ignore this process, although a lot of opportunities missed over the past 25 years push our country to the periphery of the world processes. So, how can we take another chance given by history on the eve of the new industrial revolution?
“We want a lively and fruitful discussion at KIEF 2016 to help improve national economic policy and propose effective strategies for businesses. It is extremely important for Ukraine to participate in the Fourth Industrial Revolution. Due to this, we have also changed the Forum’s slogan “Ukraine: from the Third World to the First” for the new one, which underlines the fact that our country has got the potential to be among the players of the Industrial Revolution 4.0,” says Yurii Pivovarov, the Executive Director of the Kyiv International Economic Forum.
The keynote of KIEF 2016 will be the issue of attracting investment. Crisis traits of the Ukrainian economy can be considered positive when it comes to the opportunity of getting lower asset prices. The production infrastructure is largely outdated, but investments can bring high capitalization, considering the educated and inexpensive labor force, and developed transport channels of our country, which borders with four EU members and has easy access by sea to Turkey and the Middle East. During the second day of the Forum, the experts will discuss the opportunities that are opened to foreign investors in Ukraine, the investment attractiveness of various economic sectors and investment programs of Ukrainian regions.
КIEF-2016 will bring together several dozen leading foreign and Ukrainian economists, reformers, businessmen and government officials. Including experts from countries, whose experience of economic transformation can be useful for Ukraine.
The first KIEF that was held in 2014 presented the overall vision for the modernization of Ukraine’s economy. The tools to help Ukraine make an economic breakthrough were identified at the second KIEF, which brought together 67 experts from 20 countries, 150 media and more than 800 guests. World-renowned economists recommended Ukraine to purposefully manage the economy through the Business–Government–Society triangle, and not leave it to the mercy of the free market. To convey the ideas of the Forum to the politicians, business community and civil society, a communication platform was set up under the auspices of KIEF, with the series of thematic round tables.
Follow the news on the Forum’s website (http://forumkyiv.org/en/ ) and on the official Facebook page (https://www.facebook.com/kyiveconomicforum).
Kyiv International Economic Forum (KIEF) is a permanently operating venue for the formation of Ukrainian economic development strategy. It is aimed to set up a dialogue between experts, businesses and government, borrowing the best international practices, creating a road map for the development and promotion of the conversion of ideas into the real action.
VINNYTSIA. Sept 16 (Interfax-Ukraine) – Vinnytsia has officially launched the U-LEAD with Europe program to support decentralization in Ukraine.
“The decentralization reform is crucial in order to re-establish and strengthen the link between the local communities and their representatives,” European Commissioner for Neighbourhood Policy and Enlargement Negotiations Johannes Hahn said, when launching the program.
“The ongoing of the decentralization reform in Ukraine already provides real benefits to local communities through increase in local budgets and has a great potential to bring even more,” he stated.
Hahn said the U-LEAD program would support Ukraine in establishing a more transparent multi-level governance system, which is accountable and responsive to the needs of all citizens of Ukraine.
At the launch event, Prime Minister of Ukraine Volodymyr Groysman thanked the European Union for its continued support to the decentralization process in Ukraine and stressed the government’s commitment to the implementation of this milestone reform.
The U-LEAD program provides for improvement of administrative services at the local level and strengthening the capacity of implementing the reform policy at the national, regional and local levels. At the local level it is planned to create and reconstruct up to 600 centers for providing administrative services, as well as conduct 1,800 trainings for their employees.
The program budget is EUR 102 million. Its implementation is planned for the period from 2016 to 2020.
KYIV. Sept 16 (Interfax-Ukraine) – Ukraine’s Cabinet of Ministers has approved an agreement with Romania revoking long-term visa fees.
According to government resolution No. 617 dated September 8, the agreement was signed by the governments of the two countries on May 6, 2016 in Solotvyne (Zakarpattia region).
According to the report, the agreement envisages free-of-charge registration of long-term visas – permitting Ukrainian citizens and Romanian citizens to enter Romania or Ukraine to register documents permitting stay or residence in these states for the period of over 90 days.
The implementation of the agreement would help to develop bilateral relations between the two countries, intensify contacts in social, economic, cultural and humanitarian spheres.
KYIV. Sept 16 (Interfax-Ukraine) – Switzerland’s Aspra Finanz Holding AG that held 48% each in insurance companies Vector Invest and Vector Invest Life (both based in Kyiv) has left the companies as a shareholder, the companies have reported.
An individual that held 42% of shares in Vector Invest left the company as a shareholder. An individual that held 42% of shares in Vector Invest Life also left the company as a shareholder.
Other individual acquired 100% or 7,500 voting shares in Vector Invest and an individual became the only shareholder in Vector Invest Life buying 11,000 shares.
Ultimate beneficiaries of the two companies are the founder of Pozniaky-Zhyl-Bud Corporation Never Mkhitarian and Aspra Finanz Holding AG, the ultimate beneficiary of which is Sinan Bodmer (Switzerland).
According to the public register, Mkhitarian holds 47% of shares in Vector Invest Life and Kyiv’s resident Hahik Mikaelian – 5%.
