Supporting Ukraine through partnership: A recap of “Outlook Ukraine”
The “Outlook Ukraine” event in Oslo, 30 January 2023, was a resounding success, bringing together business leaders from both the private and public sectors to discuss ways of developing the Ukrainian economy under current circumstances.
Together with the Confederation of Norwegian Enterprises (NHO), the Norwegian-Ukrainian Chamber of Commerce (NUCC) gathered a full house of company, government and international organizations representatives to discuss and share their experience on how the private sector can take part in the rebuilding efforts and continue to support the country. Despite the ongoing war and continuous destruction of Ukrainian infrastructure, housing, and industrial buildings, Ukraine looks forward. It is not too early for Norway to do the same.
The speakers set the tone for the day, highlighting the need for collaboration between the private and public sectors in order to drive economic growth and development, and establish sufficient financial instruments to enable businesses to take part in the Build Back Better of Ukraine. The private sector representatives emphasized the importance of a supportive business environment and the need for clear, predictable rules and regulations, as well as government-backed risk insurance to mitigate the risks. On the other hand, public sector representatives emphasized their commitment to working with the private sector to create a favorable business climate and to tackle the challenges facing in Ukraine.
The panel talks were particularly insightful, with panelists sharing their experiences and perspectives on key issues such as corruption, bureaucracy, and access to finance. The discussions revealed a shared commitment to finding solutions to these challenges, and a recognition that this can only be achieved through collaboration. While Norway and the international community needs to start preparing for the post-victory Ukraine, Ukraine will do its share of the work by winning the war and creating a business climate with a transparent judicial system, reformed regulatory framework, and strong focus on rule of law.
All speakers agreed on the need to start planning now and not wait until the war ends. As a response to the question on how Norway can support, Anna Derevyanka, Head of European Business Association Ukraine said:
“Even if you would not be ready to invest now, which is understandable, really use this time to plan for the future. Time will come when you will really need it. The sooner you will prepare and find the right stakeholders, the better you will do in the future.”
Followed by three concrete ways to start:
- Exploration of opportunities: Find your niche and analyze the legislation
- Promote your technology: Send equipment so the equipment will be better known
- Find your partner: Sign an MOU with Ukrainian companies
All in all the event was an important platform for dialogue and exchange of ideas, and it was clear that everyone present was passionate about the future of Ukraine and willing to contribute.
On behalf of all the guests we would like to thank to the excellent speakers for sharing their insights and joining the discussions:
- Ole Erik Almlid, Director General of the Confederation of Norwegian Enterprise (NHO);
- Anniken Huitfeldt, Norwegian Minister of Foreign Affairs;
- Mustafa Nayyem, the head of the State Agency for Reconstruction and Development of Infrastructure
- Øystein Dørum, Chief Economist at NHO;
- Tymofyi Mylovanov, President at Kyiv School of Economics
- Susan Goeransson, EBRD – Director, Head of Infrastructure Europe;
- Anna Derevyanka, EBA Ukraine – Director
- Alina Sviderska, Scatec – General Manager Ukraine;
- Olav Einar Rygg, Export Finance Norway (Eksfin) – Chief Commercial Officer;
- Trond Moe, NEFCO – Managing Director;
- Kjartan Svaland Tveitnes, NUCC Managing Director;
- Ketil E. Bøe, Chairman of the Board of Directors at NUCC.
The recording of the event is made available here (hyperlink), for those interested in listening or relistening.