Kyiv (October 14) – The Boston Consulting Group (BCG) in partnership with the We Build Ukraine Foundation held an online workshop for representatives of business associations, international financial institutions, G7 countries, and the European Union.
During the workshop, the participants reviewed and discussed a comprehensive study on Ukraine's Economic Growth Strategy developed by the Boston Consulting Group (BCG) in partnership with the Ukrainian Infrastructure Association (UNITE) in cooperation with Ukrainian government agencies and leading private sector representatives. The study provides an in-depth analysis of Ukraine's macroeconomic conditions, sectoral strengths, and potential areas for growth. The document outlines more than 350 priority initiatives to achieve a long-term sustainable economic recovery in Ukraine.
The in-depth analysis was based on various data sets and more than 100 interviews with industry experts, Ukrainian and international companies, and representatives of central and regional authorities.
“The breadth and depth of this study is unprecedented and critical for Ukraine's future. The recommendations will guide the government and business in building a sustainable and dynamic economy,” said Igor Samokhodskyi, Executive Director of UNITE.
The analysis shows that to achieve sustainable GDP growth, the Ukrainian economy must have affordable financing and insurance, a developed transport infrastructure to support trade, and a sufficient number of skilled workers. Foreign direct investment (FDI) is crucial to achieving significant long-term economic growth, which requires the creation of a favorable business environment supported by regulatory reforms and the rule of law. Together, these efforts will create a solid foundation for Ukraine's long-term prosperity.
The BCG added: “This study underscores the importance of targeted investment and strategic sectoral prioritization in Ukraine's economic recovery. The analysis points to the areas with the greatest growth and sustainable development potential, which will be key to Ukraine's recovery.”
An important step will be the transformation of the Strategy into a detailed Action Plan.
“We Build Ukraine, an independent think tank, will develop and implement the Action Plan, taking into account the position of business associations, local and international companies, to present ready-made solutions to the government,” said Oleksandr Kubrakov, founder of We Build Ukraine Foundation.
A series of workshops are planned by the end of the year to continue a broader dialogue and developments to address the challenges facing the Ukrainian economy.
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