Andy Hunder, President of the American Chamber of Commerce in Ukraine, and Roman Waschuk, Ukraine's Business Ombudsman, visited AmCham Czechia's office last week to inform members of the present and future of Ukraine's economy.
The news is remarkable. 78% of AmCham Ukraine's members are operating. 83% are paying full salaries to their employees, despite the fact that 23% of them have sustained damage from the war. "The internet in Kiev works better today than it did before the war," Andy shared (verbally, not online).
This is why the government and business community in Ukraine are ready to tell the world the time to return is now. A global campaign to do business in Ukraine will be rolled out in the next few weeks. "Around 750 billion euro will be spent on reconstruction," Andy informed us, "using international grants, loans, confiscated assets, and the state budget. We have the second most state-owned companies in the world, and many of those will be privatized. That promises a big economic transformation."
Roman explained the country will streamline regulations to make it better to do business without losing sight of the ultimate goal of EU membership and the need to harmonize with the acquis communautaire. "Our economy is already on the way to being integrated with the EU, but it is an invisible type of integration, because most of our exports are business to business, and not brands that you see on your shelves.. For instance, our corn is in almost every piece of jambon created in Spain."
For those concerned about the conflict, Roman reminded us that "Ukraine can contain eight Czech Republics. There is a lot of territory that is very far from any missile attack."
AmCham CZ agreed to work with Andy to utilize the AmCham network- including the American Chamber of Commerce to the European Union and our neighbors American Chamber of Commerce in Poland, The American Chamber of Commerce in Germany, AmCham Slovakia and AmCham Romania as well as CIPE Europe & Eurasia - to increase investment, to reform economic policy, and to promote Ukraine's membership in the EU.