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On June 23-24, 2021, the second Ukrainian Economic Renaissance Forum was held online. “Digital” is in focus, the untapped export potential of Ukraine, the opening of the land market, corporate governance in the family business and Naftogaz, how business associations can be successful - these things were discussed during the panel discussions of the forum.

The event was attended by the representatives of community of the socially responsible business, owners and managers of companies initiating innovative projects, investors, representatives of the academic circles and the expert community, public and government officials.

The key topics were the new challenges for Ukraine and its economy, ways of attracting investments and ways of cooperation of our country with real and potential partners in the new conditions. The organizers are the Ukrainian Cooperative Federation, platform of international events InvestForumUA.

During the two-day forum, six panel discussions were held that were dedicated to the development of the Ukrainian economy in the global and Euro-Atlantic context, investment activities and business financing opportunities in Ukraine, international experience in cooperation and credit union activities, high-quality corporate governance, social partnerships and the development of business associations in Ukraine.

The participants of the panel discussion regarding the development of the Ukrainian economy in the global and Euro-Atlantic context were Hennadii Chyzhykov, the President of the Ukrainian Chamber of Commerce and Industry; Olga Magaletska, Head of the Office of the National Investment Council under the President of Ukraine; Emma Turos, executive director of the Canadian-Ukrainian Chamber of Commerce in Ukraine; Mykhailo Korylkevych, the President of the Ukrainian Cooperative Federation; Inna Mietielieva, ex-deputy minister of economy. During the discussion, the participants discussed major investment projects that are beginning to be implemented in the country. The ATB Corporation announced a 400 million US dollars investment package in the current year; the investment company UMG Investments announced the construction of a grain terminal in the seaport “Pivdennyi”, the volume of investments is more than 150 million US dollars; the company Ukrmilkinvest has created a network of family dairy farms, which in the first half of 2021 amounts to around 100 dairy farms, attracted more than 2.2 million US dollars of investments from private investors, retail investors and international donor organizations, and continues to develop.

During the panel discussion regarding investment activities in Ukraine, it was announced that, taking to account the pandemic, investors are focusing on online projects and the digital industry. The consumption structure is changing, more and more people are buying goods and services online, and this tendency will continue after the end of quarantine restrictions; moreover beside online and digital projects, foreign investors are interested in enterprises, the value of which may grow 2-3 times in the coming years. The panel members were Dmytro Kuzmenko, executive director of the Ukrainian Venture Capital and Private Equity Association; Kostiantyn Mahaletskyi, partner of Horizon Capital; Vitalii Strukov, Managing Partner of BDO company in Ukraine; Anna Horkun, CEO and owner of winemaking company 46 Parallel Wine Group; Valerii Kulytskyi, managing partner of Baltic Partners.

At the panel discussion dedicated to cooperation and the activities of credit unions it was held a discussion on the current state of the cooperative movement in Ukraine, international experience of credit union activities and determination of opportunities for unions to become alternative full-fledged financial partners of small farmers, family farms, etc., in particular, and after the launch of the land market in Ukraine. The participants were the following: Zinovii Svereda, deputy chairman of the board of the Public Union "Ukrainian Cooperative Federation"; Volodymyr Zelenchuk, chairman of the board of the Credit Union "AGRO BUSINESS CREDIT"; Yan Sheptytskyi, businessman, great-grandson of Metropolitan Bishop Andrii Sheptytskyi; Ivan Vyshenskyi, project expert of Financial Sector Transformation USAID; Olha Khodakivska, Doctor of Economics, Deputy Director of the Institute of Agriculture-based Economics; Tamara Denysenko, Head of the Ukrainian Federal Credit Union (USA); Petro Makovskyi, Chairman of the Supervisory Board of the Vyhoda Credit Union.

In the panel discussion that related to the high-quality corporate governance in Ukraine took part Olha Bosak, founder and director of the company Olha Bosak Management Consulting, Oksana Volchko, individual member of the Supervisory Board of JSB Ukrgasbank; Vladyslav Burda, founder and president of the Association of Family Business Owners in Ukraine; Lesia Korylkevych, co-founder of the family dairy farm development project; Taras Dumych, Managing Partner of Wolf Tais Law Firm.
 
The participants discussed the development prospects of high-quality corporate governance in Ukraine, the reaction of the international community to the reform, the specificity of the activities of corporate governance bodies in family-owned, joint and state-owned companies, the situation with external interference in the activities of the Supervisory Board of Naftogaz, the peculiarities of a well-formed Supervisory Board of any Ukrainian company.

The panel discussion dedicated to the topic of social partnerships and social investments was attended by Oleksandr Lisovskyi, project manager of the charity fund Love Ukraine; Tetiana Levkivska, coordinator of the Ukrainian Social Venture Fund; Oleksandr Osovets, Head of the Program Group USAID of agriculture and rural development; Vasyl Tuz, Executive Director of the Association "United Territorial Communities of Rivne region"; Viktoria Kostiuk, Head of the Non-governmental Organization “Community development agency “Intonation of CHANGE.” During the discussion the concept of all-Ukrainian platform for the establishment of partnerships between non-governmental organizations and communities based on a network of family dairy farms was presented.
 
The Ukrainian Economic Renaissance Forum was finished with a panel discussion dedicated to the development of business associations in Ukraine. It was attended by Iryna Lylyk, President of the Ukrainian Marketing Association; Oleksandr Hladunov, Vice President of the Ukrainian Marketing Association; Volodymyr Kovtunets, Deputy Chairman of the National Qualifications Agency; Taras Komarenko, Head of the company Smart People; Vladlen Sysun, Coordinator of Organizational Development of the Project UNDP “Strengthening of Member IHR Business Associations in Ukraine”; Roman Hladunenko, executive director of the Ukrainian Association of the Lime Industry; Serhii Ustinov, Head of the Board of the Association of Investors and Employers of Ukraine; Volodymyr Patis, President of the Ukrainian Association of Furniture Manufacturers. The participants answered the question: why do we need business associations in Ukraine and what tasks should they solve.

The Ukrainian Economic Renaissance Forum (UERF) was held with the assistance of the Ukrainian Catholic University, Lviv Business School, Ukrainian Lime Industry Association, Ukrainian Marketing Association, Rotary Ukraine, group of companies Monstera, Wolf Theiss, Smart People, Baltic Partners.

Contact us:

+38050 419 7506, investforum.ukraine@gmail.com

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