Business news from Ukraine

KYIV INTERNATIONAL ECONOMIC FORUM HAS BEEN SUCCESSFULLY HELD IN THE CAPITAL OF UKRAINE

On October 7-8, the Kyiv International Economic Forum (KIEF) was held at the Parkovy Exhibition and Convention Center. Over 1,500 participants attended the event, during which 25-panel discussions took place. Over 120 speakers from leading international organizations and private companies, in particular the European Investment Bank, BlackRock Investment Institute, WTO, EBRD, OECD, Club of Rome, World Economic Forum, McKinsey & Company, and others, shared their vision of the future of the global economy.

The initiator of the Forum was the UFuture holding company, headed by the entrepreneur Vasуl Khmelnytsky. KIEF is a platform for the formation of a strategy for the economic development of Ukraine. The Forum is focused on organizing a dialogue between experts, business, and government, borrowing the best world experience, creating a roadmap for development, and facilitating the conversion of ideas into real actions.

In his opinion, Ukraine has significant prospects in the world market. A powerful agricultural sector creates prospects for the development of modern production in FoodTech. The government and businesses must invest more in the processing of raw materials and the creation of finished products, which creates additional jobs and contributes to overall economic growth.

According to the founder of KIEF, there is a problem with the development of the infrastructure of startups, now in Ukraine. Despite the availability of high-quality technical education, university graduates do not have a proper business education. For this, the state must create an ecosystem for the development of startups.

Vasуl Khmelnytsky noted the positive changes in the state’s approach to the development of small and medium-sized businesses in Ukraine. A positive example is the «5-7-9» lending program, which made it easier for entrepreneurs to access capital. However, according to the entrepreneur, the state has a lot to do. Thus, the share of SMEs in the structure of the Ukrainian economy is 1.5%, while in the world it is 3-4% on average. For the development of entrepreneurship, the state must conduct educational work, in particular, starting from school.

General Director of the Forum Yurii Pyvovarov noted that the country’s reputation is important for leaders of business, and the country itself. The world should understand that it is comfortable to live, work, invest, develop business here. Therefore, it is necessary to develop a long-term strategy for the development of the image of Ukraine, and KIEF has been making a great contribution to the development of this reputation for the eighth year.

“There are three major trends to be an economically successful country. First: money goes into innovations and ideas. Here we have a chance. It is necessary to develop the infrastructure of incubators, start-ups, and the state to support promising projects. The second trend is climate. There is a lot of money going there, new, more environmentally friendly production facilities are being built. The third trend is the development of production. The pandemic has shown that there are logistical difficulties in transporting from China to Europe. There is a window of opportunity in Ukraine, but it is small. Work is underway to develop production, in particular, the Verkhovna Rada adopted a draft law on the development of industrial parks. But this requires more effort,” said Pivovarov.

During the forum, the issue of investment in developing countries, their risk, and profitability were raised. If earlier it was more profitable than investing in developed countries, in the last decade the trend has reversed. And we need to understand whether Ukraine in such conditions can be attractive for foreign and domestic investors. Among the advantages of Ukraine, the speakers named low competition, which creates the preconditions for a quick return on investment and getting large profits. Another plus is that Ukraine is striving to join the European Union. This choice means harmonization of legislation and regulation with the European one, predictability, and building a level playing field. Experts named IT, infrastructure, agriculture, banking, fintech, e-commerce, and big data as the most attractive in terms of investment.

During the panel “Can Developing Markets Fuel Global Recovery?” panelists noted that the digital trend is growing all over the world, and the covid only contributes to this. Beata Harasim, the senior investment strategist at BlackRock Investment Institute, said many countries are underfunded to move to green energy. Emerging markets need additional support from wealthy countries. “Covid has helped reinforce several trends, one of which is the transition to zero carbon emissions. Countries whose economies are based on exhaustible resources should pay more and more attention to renewable energy sources,” said Beata Harasim.

One of the discussions was: “Financing the Future: Money for Sustainable Development”. Speaking during the meeting, EBRD Director for Eastern Europe and the Caucasus Matteo Patrone said that in order to achieve the sustainable development goals set by 2030, it is necessary to invest about $30 trillion, at least $1 trillion annually. The private sector should also make a contribution because the state does not have the necessary resources. The $27 trillion invested in low and negative yield bonds could be reinvested to achieve sustainable development goals, he said. He believes that the time for such investments is not lost yet. “In Ukraine and many others, there is a deviation from the goals of sustainable development. Approximately $1 billion of investments in Ukraine are under threat, ”said Patrone.

Ann Cairns, the Executive Vice-Chair of Mastercard, spoke at the panel “Economy of the 21st Century: An Era of Changes and Opportunities”. She said that Mastercard has seen a change in online shopping in the past 10 months, more than in the last 5 years. People started spending more locally, which is understandable due to widespread lockdowns. Almost a billion people received payments from their governments around the world during the period of covid. The corona crisis has intensified digitalization: we see the development of artificial intelligence and the introduction of digital currencies, as well as a huge development in the financial sector.

And Vice Prime Minister – Minister of Digital Transformation of Ukraine Mykhailo Fedorov noted that during the pandemic, technology companies developed most of all, those that are convenient: Uber, Booking and the like. They have transformed established business models. According to the speaker, states should turn into technology companies, be fast, convenient, and develop those areas where there is no business component. And the best way for Ukraine is to become the most comfortable country in the world, and this is possible thanks to technology. Digitalization has made a leap in our country, not only thanks to the pandemic but also because of a change in consumer culture and a change of government. Fedorov believes that Ukraine has made digitalization a certain pop culture, which is why we are on the right path, where convenience is a competitive advantage in the struggle for development.

KIEF remains a permanent discussion platform for developing strategic decisions for the Ukrainian establishment, business, and society. The organizers predict that next year the Forum will be even larger and expand the geography of its participants.

VII KYIV INTERNATIONAL ECONOMIC FORUM WILL BE HELD ON OCTOBER 7-8 IN THE CAPITAL OF UKRAINE

On October 7 and 8, the capital of Ukraine will host the Kyiv International Economic Forum (KIEF), which for the seventh year has brought together well-known world economists, influential businessmen, representatives of the Ukrainian establishment, and authoritative economic experts.
The main issue of the forum in 2021 is peace in an era of radical changes. The COVID-19 pandemic has shown how fragile our perception of reality is. Traditional sectors of the economy are under serious attack, while technology is gaining in importance. The world’s best experts, analysts, entrepreneurs, and top management will offer their expertise to find answers to the most important questions of the development of the world economy.
Why is it important to visit KIEF 2021?
KIEF is the main platform for business representatives, economists, scientists, and investors, within which global trends are discussed, a development vector for 2021 is formed, new business contacts are established and partnerships are strengthened.
For the first time in Ukraine, the partner of this Forum will be one of the best international educational platforms for professional discussions about the economy – Economist Impact. The platform will host two panel discussions – “The Role of Emerging Markets in Global Economic Recovery” and “Welcome to the Health-care Revolution”.
During traditional networking, the world’s best experts, investors, and entrepreneurs will share their insights and answer questions, so that you can not only present your ideas but also build a complete business development strategy.
Over 130 speakers from leading international organizations and private companies, in particular WTO, EBRD, OECD, Club of Rome, World Economic Forum, McKinsey & Company,Mastercard and others, will share their vision of the future of the global economy.
The most important trends in the development of markets, issues of leadership in the new economy, as well as authentic examples of the transformation of the global economic system will not go unnoticed by the speakers of the Forum. Panelists will also talk about the latest technological advances in the development of medicine, the importance of which has grown incredibly in the face of a global pandemic.
The KIEF team strives to make Ukraine a new point of attraction for European and world investments through the development of modern production facilities. We help to establish contacts with the largest foreign investors who are ready to provide experience, knowledge, and capital for the development of the best projects.
The permanent strategic partner of the Forum is the UFuture holding company, which unites the companies and social projects of Vasyl Khmelnytsky.
The initiator of the forum Vasyl Khmelnytsky commented on the idea of creating and holding the Forum: “We live in an age of global and very rapid changes. They inspire and excite at the same time. Ukraine faces a choice: to hold on to fragile stability or to move boldly in an innovative direction. Today we can make a quantum leap in development – for this, we need knowledge, cooperation, and decisive action. I see the success of our common future in the synergy of a modernized public sector, the energy of entrepreneurs, and the talent of scientists. We must unite for the global goals facing humanity. It is time to move forward, transform business and economy in accordance with the requirements of the present. After all, KIEF is held so that we feel the trends of the future and become the ones who bring them to life”.
Kyiv International Economic Forum is a unique platform for the exchange of views and expertise for the economic development of Ukraine and the world. The forum brings together about 130 speakers to address key business development challenges, with an emphasis on adaptability and innovation.
Tickets and detailed information about the Forum are available at the link: https://forumkyiv.org/en/forum/2021/terms

KYIV INTERNATIONAL ECONOMIC FORUM TO TAKE PLACE IN KYIV ON 8-9 NOVEMBER

On November 8 and 9, the capital of Ukraine will host the Kyiv International Economic Forum (KIEF) that for the sixth consecutive year brings together well-known world economists, recognized businessmen, representatives of the Ukrainian government and highly respected economic experts.
The main discussion issue of the Forum 2019 is the future in a changing world. From business cases to visionary ideas – KIEF’s speakers will talk about rapid changes in the technology-driven economy. Entrepreneurs, top managers, analysts and strategists of companies, as well as heads of international organizations will answer the main question: what the fourth industrial revolution is and how to get prepared for it.
Why visit the KIEF 2019?
The KIEF is the main platform for business people, economists, scientists and investors to discuss global trends, shape the 2020 development vector, establish new business contacts and strengthen partnerships.
This year at the Forum, speakers will unveil the concepts of doing business in the face of climate change as well as the mechanisms for effectively managing natural disasters under their direct influence on the economy. You will learn how to prepare your business for the effects of climate change.
Speakers from global financial institutions, who have the latest information about the world’s economy, will report about the risks and consequences of the global crisis. You will be able to get ready for the next stage of development of the financial system.
The below speakers will share their vision of the future for the financial world system:
Robert Koopman, the Chief Economist of the World Trade Organization;
Giovanni Salvetti, the Managing Director of the Rothschild International Banking Group, CEE Coordinator;
Vazil Hudák, the Vice President of the European Investment Bank;
Johan Eliasch, a Swedish billionaire businessman, the Chairman and CEO of Head.
Also at the Forum, the representatives of global companies with millions in revenue, investment funds and international banks will speak about their business cases on raising capital. You will learn about new approaches to attracting foreign direct investment for business development.
In addition to educational goals, one of the main KIEF’s goals is to enhance the investment attractiveness of Ukraine. In order to introduce the business opportunities of Ukraine, potential foreign investors were invited to the Forum.
A permanent strategic partner of the Forum is the holding company UFuture, which incorporates companies and social projects of Vasyl Khmelnytskyi.
Vasyl Khmelnitsky, the initiator of the Forum, commented on the idea of creating and holding the Forum: “We live in the days of global and very rapid changes. They inspire and cause concern at the same time. Ukraine faces a choice: to stick to a fragile stability or to move fearlessly towards innovations. It is today when we can make a quantum leap in development – and for this, we require knowledge, cooperation and decisive actions. I see the success of our common future in the synergy of the modernized public sector, the energy of entrepreneurs and the talent of scientists. We must unite for the sake of the global goals, which the humankind have. It is time to move forward, transform business and economy according to the requirements of today. After all, the KIEF is organized to make us feel the trends of the future and become the ones who bring them to life.”
The Kyiv International Economic Forum is an ongoing platform for forming the strategy of Ukraine’s economic development. Each year, the Forum brings together around 2,000 guests and speakers from more than 30 countries to shape integrated strategies of business modernization with a focus on adaptability and innovation.
More information about the Forum’s speakers and panel discussions is available at: https://forumkyiv.org/uk/

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KYIV INTERNATIONAL ECONOMIC FORUM ESTABLISHES DIALOGUE BETWEEN UKRAINIAN AND FOREIGN BUSINESS

Over 2,000 participants of the fifth Kyiv International Economic Forum (KIEF) were exchanging ideas and experience, finding partners, clients, and investors on October 18–19, 2018 in Kyiv. KIEF has confirmed its reputation as a world-class business event and a powerful platform for dialogue between Ukrainian and foreign business, which plays the role of a generator of new investment projects.
More than 100 speakers—well-known entrepreneurs, economists, investors, representatives of financial organizations and authorities from more than 30 countries have participated in this Forum. More than 150 representatives of both Ukrainian and foreign media—from the USA, Great Britain, Germany, Poland, and France—have covered the Forum.
The Forum was opened by the Prime Minister of Ukraine Volodymyr Groysman. He drew attention to the growth of Ukraine’s GDP for ten quarters in a row and the country’s rise in most global ratings, but he also noted that we can and must achieve even greater growth because Ukraine has a large unrealized potential. Mr. Prime Minister is confident that human capital can help the Ukrainian economy to grow by more than 5% a year. Therefore, one of the Government’s priorities is investment in education and training of professional personnel.
The future of countries, businesses, and communities in the high-tech world, where breakthrough technologies and rapid transformations change the rules of the game on the conventional markets, was the key topic of this year’s KIEF. World-renowned experts from various fields gave their insights and predictions about key changes that will influence the humankind in the coming years, and what countries and businesses need to do to use the challenges of the new era for the better. During the discussions, the issue of human capital was of top priority because innovation requires talents and developed ecosystems, not cheap labor and raw materials.
“Five years ago, when I was inviting foreign investors to Ukraine, I told them about cheap labor and smart people. But today these advantages do not work—technology is more important. There are two challenges facing the manufacturing—robotization and artificial intelligence. To effectively use these innovations and beat the competition, companies need talented professionals. Therefore, it is important to ensure all possible conditions for talents to stay in the country and create successful teams here,” comments the initiator of KIEF and founder of the UFuture Investment Group Vasyl Khmelnytsky.
Foreign investors also pointed out the rich human potential of our country. In particular, José Manuel Entrecanales, CEO of Acciona, which entered Ukraine with large investments in renewable energy this year, noted that “Ukraine has more talent that you would normally find at an emerging market.”
Vasyl Khmelnytsky brought into focus another aspect of the new era: “Today many large companies in Ukraine are introducing innovations. As a result, there will be job cuts. Therefore, the state needs to support small and medium businesses, as they can create millions of jobs and balance the situation in the labor market.”
KIEF also plays an important reputation role—it represents Ukraine to foreign business. The Forum helps Ukrainian and foreign entrepreneurs meet in person, find common language and interests, as well as agree on the development of joint projects. Like in previous years, KIEF was attended by numerous delegations of potential investors, this time from Italy, Spain, and others.
Participants of the panel discussions of KIEF 2018 paid much attention to the global competition and transformations businesses need to undergo in various areas in order to survive in modern conditions. During the Forum, industry specialists and entrepreneurs also searched for answers to current issues of the local economy. Among them were: creating innovation ecosystems to retain qualified personnel inside the country, search for resources to develop transport infrastructure, interaction of small, medium and large businesses, introduction of new technologies in the agricultural sector, etc.
Kyiv International Economic Forum (KIEF) is a permanent platform for the formation of Ukraine’s economic development strategy. It is aimed at organizing a dialogue between experts, business and government, adopting the best international experience, creating a roadmap for development and facilitating the conversion of ideas into real actions. www.forumkyiv.org.

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KYIV INTERNATIONAL ECONOMIC FORUM TO BE KEY EVENT OF KYIV INVESTMENT WEEK FROM OCTOBER 15 TO 19

Kyiv Investment Week, a series of business and technological events for investors, business angels, start-ups and entrepreneurs from all over Europe will be held in Kyiv from October 15 to 19, 2018. For five days, the capital of Ukraine will become the main European platform for communication of international and Ukrainian businesses and start-ups. In total, eight events will be attended by about 3,000 participants and 130 speakers from Europe, America and Asia. The objective of Kyiv Investment Week is to represent Ukraine to foreign investors and help participants establish new business contacts and strengthen partnerships.
Kyiv International Economic Forum (KIEF) will become the key event of the week. The fifth anniversary KIEF will be held on October 18-19, 2018 and will bring together world-class economists, famous businessmen, investors and visionaries from more than thirty countries. The leitmotif of the forum will be the future of the countries in the high-tech world. Participants in the KIEF are expected to discuss the strategies and tools of competitiveness, consequences of trade wars, investment attractiveness, as well as the introduction of modern technologies in industry, banking and agrarian spheres, etc.
“During Kyiv Investment Week, several promising business events aimed at increasing the investment attractiveness of Ukraine will be concentrated in Kyiv. This is also one of the main tasks of KIEF. To participate in the forum in Kyiv, numerous delegations of potential investors will arrive to familiarize themselves with the business opportunities of Ukraine. Thus, KIEF and Kyiv Investment Week will really influence the improvement of Ukraine’s reputation in the world,” comments Yuriy Pyvovarov, Head of the KIEF Organizing Committee.
Moreover, the Kyiv Investment Week program includes a one-day business tour for foreign investors around the key points of the Ukrainian start-up ecosystem (October 15, 2018); UNIT Investment Summit in the UNIT.City Innovation Park, which will unite investors, who manage more than $300 million, under one roof (October 16, 2018); the evening of the final presentations of the RadarTech PopCorp FinTech Accelerator (October 17, 2018); Kyiv Barcrowling Week, the week of discounts in the best creative bars and restaurants (October 15-18, 2018); CreativeMornings/Kyiv, the monthly breakfast-lecture for creative professionals (October 19, 2018) and Kyiv Silicon Drinkabout, the Friday’s networking party of the Kyiv high-tech community (October 19, 2018).
Kyiv International Economic Forum (KIEF) is a permanent platform for the formation of Ukraine’s economic development strategy. It is aimed at organizing a dialogue between experts, business and government, adopting the best international experience, creating a roadmap for development and facilitating the conversion of ideas into real actions. www.forumkyiv.org

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