11 Jun 2024 13:56

CEOs of some leading global companies join Business Advisory Council on investing in Ukraine

MOSCOW. June 11 (Interfax) - Representatives of leading global companies and business associations from the United States, Canada, the United Kingdom, Norway, European Union countries, and Ukraine are interested in investing in the Ukrainian economy and have set up the Business Advisory Council (BAC), Ukrainian media said, citing the Economy Ministry.

"The BAC will help implement specific investment projects. We expect the BAC to give recommendations on what can be done to increase investments in Ukraine as early as today," Ukrainian First Deputy Prime Minister and Economy Minister Yulia Sviridenko said when commenting on the council's establishment.

The government also expects the BAC to advise it on how to integrate Ukraine into global supply chains, help Ukrainian companies enter global markets, and on what Ukraine can do to accelerate investments in priority sectors such as energy, Sviridenko said.

The council includes nearly 20 CEOs of the world's leading companies and business associations from different countries, namely the U.S., Canada, the UK, Norway, EU states, and Ukraine. Among them are McDonald's, Siemens Energy, Kawasaki Heavy Industries, Lloyd's of London, Genesis, Northrop Grumman International, Orange Polska, Inditex, Canadian Imperial Bank of Commerce, Egis, Confindustria, VNO-NCW, the Confederation of Norwegian Enterprises, and Business Sweden.

"The specific areas where we seek assistance from the Business Advsory Council include aligning investors' risk perception with the actual situation in Ukraine, proposals on facilitating Ukrainian enterprises' deeper integration into global supply chains, guidance on strategies for expanding Ukrainian businesses' access to global markets, potential for cooperation in restoring and modernizing Ukraine' energy infrastructure with a focus on distribution, and green energy solutions," Sviridenko said.

The first BAC meeting took place as part of the international Ukraine Recovery Conference 2024 in Berlin on Monday.

In addition, Ukraine earlier established the president's National Investment Council, which includes Ukrainian government officials and the heads of major international companies, such as POSCO, Unilever, PGNiG, VEON, Turkcell, DP World, Metro, Engie, Cargill,and Louis Dreyfus. Its composition was last updated in January 2022.