European business, governments and financial institutions are jointly seeking answers to the challenges of rebuilding Ukraine. At the EU-Ukraine Business Summit in Brussels, concrete declarations were made on investments, partnerships and reforms that are not only intended to aid reconstruct the country after the war, but besides to accelerate its integration with the European Union.
The EU-Ukraine Business Summit was held in Brussels, a key event dedicated to the reconstruction of Ukraine, improving the investment climate and deepening economical cooperation with the European Union. Over 700 representatives of governments, financial institutions and business from Europe and Ukraine attended the meeting. The co-organizers were the European Commission, the Government of Ukraine, the Polish Presidency of the EU Council and Italy.
Polish perspective: time for “Ukraine now”
Minister for the European Union Adam Sz Trapka, representing Poland at the summit, stressed that economical cooperation with Ukraine is not only a necessity but besides an chance to strategically redefine EU policy.
– Putin never abandoned his imperial ambitions. The European Union present has a historical chance to decision the paradigm from "Russia first" to "Ukraine now". The reconstruction of Ukraine is not only a restoration of the destroyed – it is innovation, transformation and a strategical way towards full integration with the EU. We must stay united. Europe needs peace as much as any another part of the world – noted Adam Trap.
Paweł Kowal, a peculiar typical of the Polish government for reconstruction of Ukraine, spoke in a akin tone. He pointed out that the process of Ukraine's accession to the EU should go hand in hand with the real engagement of investors, including Poland.
– This isn't just about Ukrainian aspirations. This is about the future and safety architecture in Europe. A united Europe is key to a unchangeable and prosperous future for all – stressed Paweł Kowal.
The voice of business: rebuilding through infrastructure and innovation
The summit was besides attended by business leaders and investors active in rebuilding Ukraine and shaping its economical future.
One of the speakers of the panel "Reconstruction of Ukraine and reindustrialisation of Europe: A Common economical Future" was Yuri Ryżenkov, CEO of the Metinvest Group. In his speech, he presented 4 key priorities on the road to integration with Europe: physical infrastructure restoration, regulatory improvement – especially with respect to natural monopolies, engagement of global financial institutions in the reconstruction of Ukraine and implementation of innovation.
–Infrastructure is crucial due to the fact that everything starts with it. But the most crucial thing is not only to rebuild it, but besides to make it better and more modern – He said Ryzankov. Business needs predictability and transparency. We must improvement the Ukrainian regulatory system, destruct bureaucracy and make new, transparent regulations. This is an absolute precedence on the way to the European Union – he added.
A signal of assurance for investors
Ryzenkov besides stressed the key function of global financial institutions as investment catalysts:
– When specified institutions enter the country, they give a signal of assurance that encourages another financial actors to follow in their footsteps. However, we would like to see how these mechanisms will besides work for tiny and medium-sized enterprises as well as large companies in joint projects. – he noted.
He besides pointed to the increasing importance of innovation, in peculiar artificial intelligence,
in the reconstruction process.
– Artificial intelligence is already in Ukraine. It is already part of the reconstruction process. And I'm certain another Ukrainian companies are besides working on akin projects. – said, referring to the concept of Steel Dream – a reconstruction task of Ukraine that uses steel and artificial intelligence to plan and manufacture buildings.
EU reaffirms strong commitment to Ukraine
The summit was besides attended by the Ukrainian Prime Minister Denys Szmyhal and EU Enlargement Commissioner Marta Kos, who jointly announced a fresh strategical initiative for investment and reform. A fresh EU-Ukraine business partnership has been launched to deepen economical ties, support the reconstruction of the country and accelerate Ukraine's integration into the EU Single Market. This initiative focuses on 3 priorities: the improvement of the business environment, the mobilisation of backing and the promotion of Ukraine as an attractive place to invest.
The European Commission besides announced a second call for proposals for companies curious in participation
in reconstruction of Ukraine.
The event was not only a platform for dialog but besides a confirmation of the EU's lasting commitment to support Ukraine's long-term economical resilience. The focus was on investment in the future, modernisation as an component of accession and reconstruction with a view to EU integration.
