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May 26, 2014

Anna Derevyanko, Executive Director EBA (Ukraine): In what way is Ukraine now?

Expectations of the business community

In what way is Ukraine now? Where the reality lies? And finally what does the business society expects in the nearest perspective?

Ukraine now is at the epicenter of all the events. While the new Government is trying to make the first steps in their way and establish the correct management of the country, business is starting to think more on how to help the Government to move the country in the right way.

Anna Derevyanko, Executive Director EBA (Ukraine): In what way is Ukraine now?

Recently the European Business Association announced the results of the EBA Investment Attractiveness Index, which is based on the regular monitoring of the investment climate of Ukraine by senior figures of EBA member-companies. The results accordingly turned out to be impressive, as Index grew up from 1,81 in the fourth quarter of 2013 to 2,72 in the first quarter of this year (from 5 possible), which is the highest one from 2011. It proves that business undoubtedly has the highest expectations and hopes that the changes will obligatory come. We have great geography willing to help Ukraine, and now the important thing is not to miss the chance.  It is necessary for everyone to see that the real progress in the fight against corruption, real steps towards deregulation and the improvements in the judicial system. Thus, business is giving carte blanche to the new Government and understands that changes can’t be seen immediately, nonetheless we are all awaiting with a great impatience for the sustainable actions, not only words.

During the EBA meeting with the Government the following priorities as for the nearest changes, have been announced: the fight against corruption, deregulation of business and the simplification of the conditions of doing business in Ukraine. Consequently, the first thing to do is to learn how to execute law and this is one the key tasks for the representatives of the Government.

We are trying from our side to keep up with all the latest politic events, so that the business society can have the possibility to influence directly on what is happening in our country. Cooperation of the Government, Business and Media is even of a higher importance nowadays, as we have to move forward in the development, as well as to be able to share with the help of national and international media the reality of what is happening. Moreover, small and medium entrepreneurs need to develop, because exactly they are usually the base of business creation in the developed European countries.

Of course, in every sector, in every industry there are a lot of their problems, legislative shortcomings and errors - technical issues. Package of proposals for solving business problems from different sectors developed in consultation with business and based on European practices and standards, has already been submitted to the government, and from given 45, we already see some progress in 16 of them.

So what exactly is business waiting for? I think that the most important for the people who rule the country is to review their values. To think about personal enrichment, manipulate power to meet their own interests - all of this must be a throwback. Get rid of the remnants of the system - the bureaucracy , bribery, corruption at all levels , a huge number of unnecessary and archaic licensing procedures - that's what is needed to be done at this stage.  From now on the direction should be toward the work for efficiency and benefit of the country - that should become a great trend. We have to start the change from ourselves and to do the steps, which help Ukraine to reach prosperity and stability.

The European Business Association is a non-governmental organization that brings together more than 900 European, international and domestic companies operating in Ukraine. Today it is the premier organization for foreign businesses in Ukraine. The EBA was established in 1999. The initiator of its creation was the European Commission who was interested in supporting European businesses in Ukraine and bilateral EU-Ukraine relations. Taking into account the priorities of Ukraine for integration with the European Union, the main objective of the Association is to improve relations between European businesses and the authorities in Ukraine to cooperate on creating a favorable business environment and attracting foreign direct investment into the economy of the country.




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