Investing in Ukraine: Insights

Toronto hosts the 2nd Annual Edition Rebuild 2023

By Marek J.D.Goldyn – Editor-In-Chief – The Canadian National News / The EUROPEAN Club of Canada

The two days International conference brought mostly Ukrainian – Canadian community with business interests in war torn Ukraine which is fighting for its independence after 32 years of Proclamation of a new state as the largest country in Europe.

By Khrystyna Banakh -Reporter- The Canadian National News / The EUROPEAN Club of Canada

Investing in Ukraine: Insights from the “Rebuild Ukraine & Ukraine by Design” Conference In today’s dynamic business landscape, challenges unveil hidden opportunities, especially when investing in Ukraine. Aligning with this resilient nation, characterized by strength and an unwavering commitment to growth, promises a future marked by prosperity and stability.

Participating with enthusiasm in the two-day “Rebuild Ukraine & Ukraine by Design” business conference, jointly organized by the Canadian-Ukrainian Chamber of Commerce, the Business Council of Canada (BCC), the Embassy of Ukraine in Canada, the Embassy of Canada in Ukraine, and the Ministry of Economic Development and Trade of Ukraine, has been an enlightening experience.

This gathering, featuring over 200 participants from diplomatic institutions, businesses, and government sectors of Ukraine and Canada, delves into investment potential while navigating inherent risks.

During the conference, a very interesting conversation with Ruslan Kurt, a contemporary Ukrainian artist based in Toronto, unfolded. His art installation, “Doors. Through The Horror of War,” shares the heartbreaking stories of millions of Ukrainians compelled to flee their homes due to war and terror caused by Russian soldiers. Drawing parallels between lives and doors, the installation aims to convey profound themes of life, death, fortitude, courage, and the price of freedom by guiding attendees through the doors of Ukrainian homes.

Khrystyna Kurganska, the chairperson of the board at NGO DOLADU, presented a compelling vision for establishing a comprehensive mental health ecosystem for Ukrainians, fostering the development of a resilient and sustainable society.

Engaging with these and other talented Ukrainians attendees in the conference not only provided hope and confidence but also reinforced the belief in Ukraine’s inevitable triumph. Victory is assured in the face of challenges, making the investment landscape in Ukraine even more promising.

Irina Bilots Reports

 Rebuild Ukraine conference blog

As news about the war in Ukraine have faded away from international media sources, the ongoing war remains no less devastating than at its start on 24^th of February 2022. Canada, being a home of approximately 1.36 mln. Ukrainian Canadians, the largest Slavic group in the country, has welcomed additional 200K Ukrainian refugees since the war start. For these groups, the war is not forgotten and continues to disturb their daily routines and routines of their extended families who are back in Ukraine.

Given a vivid interest in the war, it is no wonder that Toronto served as a perfect place to host Rebuild Ukraine conference on Nov 21-22 to bring together prominent Ukrainian politicians, policy makers, representatives of business and non-profit communities from Ukraine and those of Ukrainian origin residing in Canada.

Rebuilding Ukraine is not going to be an easy task. Current aid needs to recover from damages caused by war are estimated at over US$400 bln. Representatives of several international development banks, mainly International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), Black Sea Trade and Development Bank are dedicated and not scared of this large figure. Artem Shevalev, Alternate Director in the Board of Directors of the EBRD, pointed out that “US$400 bln. over 10 years of reconstruction efforts is only 0.1% of G7 countries’ GDP. When one puts it into that perspective, the figure is no longer as frightening”. What could be problematic though is the drain of the human capital and creating conditions, under which people would be able to come back home.

What is interesting that apart from a few months of shock when the war just broke out, Canadian companies continued to display strong interest in the Ukrainian market. Those who were there, remained, and new ones are interested to enter the market, according to Todd Winterhald, Senior Vice-President of Export Development Canada.

Honorable Mary Ng, Minister of Small Business, Export Promotion and International Trade of Canada, who also spoke at the conference, has highlighted commitment of Canadian government to support those Canadian companies that wish to expand to Ukrainian market. CUFTA, Canada–Ukraine Free Trade Agreement concluded in 2016, is timely as ever, to help support Ukrainian-Canadian trade to flourish.

Andriy Sadovyy, the mayor of Lviv, city in the West of Ukraine, who also attended the conference in person, concluded the panel he was on with cheering the public “We will have short time to rebuild, but together with you we must believe in Ukraine”. Hopefully this war will end soon and Ukraine can open the doors to its new beginnings and emerge even stronger than before.