First Vice Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko held online meeting with representatives of member companies of American Chambers of Commerce in Ukraine.

The Minister informed about current state of the country’s economy, forecasts for the next year and strategic plans for post-war reconstruction. She also answered relevant questions of entrepreneurs requiring to be promptly resolved to facilitate as much as possible the development of entrepreneurship in Ukraine right now.

“It is absolutely fair to say that besides military front there is also an economic one. We really appreciate the macroeconomic assistance of our partners. But our strategic goal is to make our business work. That is why such meetings with business representatives during the war are of great importance”, said Yuliia Svyrydenko.

According to the Minister, significant share of Ukrainian enterprises had to suspend or terminate their activities because of the war. So the government is currently making all endeavors to reduce this indicator. In particular, it moves towards deregulation and liberalization, minimizing an amount of authorization documents necessary for the work.

Another serious challenge for the state voiced by Svyrydenko is fight against unemployment, which level by the end of the year, according to forecasts, will reach 28-30%. Within the scope of such fight, the Ministry of Economy is implementing the e-Robota project, which provides grants to the Ukrainians for business start-up, development of entrepreneurship and professional training.

Moreover, an important task mentioned during the online meeting is attraction of investments in Ukraine. For this purpose, the government launched an international platform in Advantage Ukraine, hosting over five hundred investment projects and opportunities in ten branches of the economy. An important step for attraction of investments is insurance against possible political and military risks. This have been already negotiated between the Ministry of Economy and the Multilateral Investment Guarantee Agency (MIGA).

The moderator of the online meeting was Andrii Hunder – the President of the American Chamber of Commerce in Ukraine. According to him, 96% of enterprises united by business association expect to continue their work next year.

“We are grateful for support and dialogue opportunity. It is very important for the work in the conditions of war, when Ukraine inspires the whole world with its courage and bravery. It is those leaders that business is ready to deal with. So we are working, believe in Ukraine and are preparing for great reconstruction”, noted Andrii Hunder.

During the following meetings, the parties agreed to approach the questions currently requiring to be resolved at the intergovernmental level more substantively. According to Svyrydenko, hard daily work is a guarantee of successful development and reconstruction of the economy.

“The meeting proved that business and government are ready jointly and in dialogue to overcome huge problems that arose as a result of large-scale Russian aggression against Ukraine. Such joint efforts have already given a positive result: GDP decline is slowing down, and export is increasing. Business is optimistic about the future and is ready to invest in the economy, as evidenced, in particular, by commencement of small privatization procedures. The Government will further work to provide optimal conditions for business. We have an ambitious common goal – to create the Ukrainian economic miracle”, summarized First Vice Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko.
 

*Reference. American Chamber of Commerce in Ukraine – a business association uniting more than 600 American, international and Ukrainian companies. Common investments of Chamber members in the economy of Ukraine amount to over US$ 50 billion.

The American Chamber of Commerce in Ukraine is part of the US Chamber of Commerce and the largest office among American Chambers of Commerce in Europe.