Global companies create Business Advisory Council to bolster investments in Ukraine
Leading global companies and business associations from the USA, Canada, Great Britain, Norway, EU countries, and Ukraine, interested in investing in the Ukrainian economy, created the Business Advisory Council (BAC), first Deputy Economy Minister Yulia Svyrydenko reported on X.
"BAC will promote specific investment projects implementation,”she wrote.
“We expect the BAC will give recommendations on what can be done to encourage investments in Ukraine right now.”
Ukraine is also looking for recommendations on how to integrate the country into global supply chains, help Ukrainian companies enter global markets, and what the country can do to hasten investments in top-priority sectors, for instance, energy, she added.
BAC includes almost two dozen of leading global companies heads and business associations from various countries — the USA, Canada, Great Britain, Norway, EU countries, and Ukraine. McDonald's, Siemens Energy, Kawasaki Heavy Industries and Lloyd's of London, Genesis, Northrop Grumman International, Orange Polska, Inditex, Canadian Imperial Bank of Commerce, Egis, Confindustria, VNO-NCW, Confederation of Industry and Employers of the Netherlands, Norwegian Confederation of Enterprises, Business Sweden are among the members.
The first BAC meeting took place before Ukraine Recovery Conference (URC-2024) in Berlin on June 10.
"It is important for us to change the way how investors percept Ukraine,” Svyrydenko concluded.
“Many companies are investing in Ukraine despite the war, business definitely faces challenges. Our common goal is to work out ways to overcome the obstacles faced by investors who want to enter the Ukrainian market."
Ukraine’s President National Investment Council was also established in Ukraine, which includes both representatives of the Ukrainian government and largest international companies leadres, such as POSCO, Unilever, PGNiG, VEON, Turkcell, DP World, Metro, Engie, Cargill, Louis Dreyfus, it was reported earlier. Its composition was last updated in January 2022, even before the Russian full-scale invasion.
A Japan-Ukraine roundtable discussion on Ukrainian-Japanese cooperation in the agricultural sector was organized prior to URC 2024 resulting in 23 memorandums on cooperation having signed.
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