To bolster local industry and promote international investment in Ukraine, the European Business Association (EBA) and the Global Business for Ukraine association have partnered with Ukraine Invest to create a comprehensive map of investment and business opportunities. This tool will enable potential investors to identify promising projects in a variety of regions throughout Ukraine.
To highlight Ukraine's investment potential and encourage collaborative efforts, the Geneva Chamber of Commerce and Industry organized a business meeting titled "Focus on the Market: Ukraine." The event brought together representatives from the European Business Association (EBA), Global Business for Ukraine (GB4U), and CCIG (Chambre de Commerce, D'Industrie et des Services de Genève).
During the meeting, Swiss businesses were presented with a map of investment projects in Ukraine and engaged in discussions about the realities of conducting business in the country.
The attendees were welcomed by Vincent Subilia, General Director of CCIG, and Anna Derevyanko, co-founder of GB4U and Executive Director of the European Business Association in Ukraine. Other industry experts from Ukraine and Switzerland also provided reports, including Yaroslava Savasteyeva, co-founder of GB4U, Taras Antoshchak, First Secretary of the Embassy of Ukraine in Switzerland, Nadiya Olaryan, President and Co-founder of the Association "Revival of Ukraine," and Inna Malaya-Yurlova, Founder and Virtual General Director of Bevel.
Hanna Derevyanko, Vincent Subilia
The meeting held great practical significance for all attendees, as it featured presentations from Kees Vrins, President and Founder of Allseeds Switzerland SA, and Andreas Flodström, Founder and CEO of Beetroot. They shared their firsthand experiences of successfully maintaining their businesses in Ukraine, even amidst the difficult conditions of the ongoing conflict.
During her speech, Hanna Derevyanko, Co-founder of GB4U and Executive Director of EBA in Ukraine, highlighted the fact that the investment and business opportunities map of Ukraine currently features 85 projects across 14 different industries. These industries include agriculture, construction, transportation and logistics, food and fuel production, tourism, education, healthcare, mining, waste management, and support services. Each project description provides information on the initiator, status, location, investment opportunity, investment amount, goals, and implementation timeline. In addition, information is provided on the location region, including its size, population, taxation system, educational institutions, natural resources, and infrastructure development. The investment map can be accessed at the following link: https://investmentmap.com.ua/
According to Virginia Pinderlaube, the regional representative of the State Secretariat for Economic Affairs (SECO) in Ukraine, Ukrainian companies have become more resilient and the nation has become more united during the 12 months of economic struggle. Despite the ongoing conflict, many companies chose to remain in Ukraine to fulfill their obligations to the country and its people. Moreover, Ukrainian businesses have started to expand globally and actively participate in the international market. Ukrainians have demonstrated great discipline in areas such as bank payments and energy conservation.
Before Russia's military aggression on Ukraine, bilateral Swiss-Ukrainian trade relations were developing favorably, as noted by Pinderlaube. However, since the start of the war in February 2022, economic cooperation between the two countries has been affected.
Pinderlaube also emphasized that, despite the challenges faced by Ukraine, Switzerland recognizes its potential in various areas, including the quality of implementing reforms. Ukraine has made progress in justice, rule of law, and corruption eradication, as well as decentralization of power, strengthening communities, and expanding municipal powers. The banking and financial sectors remain strong, and efforts are being made to promote transparency in the management of state property. Finally, Ukraine is transitioning towards green energy and investing in its people.
The key strengths of Ukraine lie in its dynamic and modernizing economy, commitment to implementing reforms, and resourcefulness. The Swiss view potential for cooperation and growth in Ukraine in the areas of transportation, energy, engineering services, water supply and waste management, and the development of social and commercial infrastructure. Despite the ongoing war, Switzerland recognizes the promise of economic cooperation with Ukraine and urges Swiss companies to explore opportunities for growth in the country.
The European Business Association was established in 1999 with the support of the European Commission and has since become one of Ukraine's largest and most influential business communities. Through forums and discussions, the association addresses and resolves common issues faced by businesses in Ukraine.