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The proposals of the ULIE on the restoration of Ukraine's infrastructure, modernization of industry and promising areas for foreign investment will be used during an informal meeting of the Executive Director of Business at OECD Hanni Rosenbaum with the ambassadors of the member countries of the Organization for Economic Cooperation and Development (OECD).
This became known during a video call of Charles Rick Johnston, Chairman of the Business at OECD, to Anatolii Kinakh, President of Ukrainian League of Industrialists and Entrepreneurs.
On October 4, ULIE acquired observer status in this Association, which unites 7 million companies from 50 countries.
Thus, now Ukrainian business has additional opportunities to establish communication with producers, importers and investors from all developed countries.
ULIE will lobby for the development of multilateral business cooperation, B2B meetings, and the implementation of projects for the reconstruction of housing and transport infrastructure affected by the war. Other areas of interest include green energy, decarbonization, improvement of logistics, development of the processing industry, etc.
The proposals of the Ukrainian business which will be considered by the ambassadors of the OECD member states refer to the relevance of attracting donor funds and external investments of partners in the creation and development of production clusters (including cross-border ones), the introduction of incentive lending programs for the real sector of the economy.
ULIE considers it a priority to develop a new transport system of supplies to foreign markets through Europe which requires the deployment of additional logistics routes to the west. We are talking about the construction of cross-border agricultural storage facilities and terminals with the EU, modernization of railways both on the Ukrainian side and in the neighboring EU countries.
In particular, the project of construction of railway track 1520 on the territory of Poland from the border with Ukraine to the Baltic countries is considered promising which will significantly increase cargo turnover in the direction of the Baltic ports.
In the energy sector it is proposed to create a liquefied natural gas terminal in Odesa jointly with international investors as well as to rebuild destroyed heat power plants throughout the country.
In general, ULIE insists on maximum localization of production of complex goods (vehicles, road and construction equipment) in Ukraine. This is a profitable field for foreign investment as the World Bank and Ukraine itself are developing a mechanism to insure investors against war risks. For the domestic economy, this will contribute to the creation of a large number of jobs and greater GDP growth in annual terms.
The issue of providing internally displaced persons with housing as well as those citizens who lost it due to the aggression of Russia remains problematic. To this end, Ukrainian League of Industrialists and Entrepreneurs already has certain developments together with Lithuanian partners - the Confederation of Lithuanian Industrialists. We are talking about the so-called "digital construction" - accelerated creation of housing projects and their construction within a few months.
Following the meeting with the ambassadors of OECD member countries Business at OECD will inform the ULIE about the points of the proposals on which cooperation can be started in the near future.
It should be noted that Ukraine has also applied for membership in the Organization for Economic Cooperation and Development. After its acceptance, the status of the ULIE as an observer will automatically change to a full-scale member of Business at OECD which will further expand the opportunities for Ukrainian business.