Daniel Bilak, Chairman of UkraineInvest brought a positive message from Davos to Washington
U.S.-Ukraine Business Council (USUBC),
Wash, D.C. Wed, Feb 27, 2019
USUBC hosted a roundtable with Daniel Bilak, Chairman, UkraineInvest and Chief Investment Advisor to the Prime Minister of Ukraine to discuss Business & Investment in Ukraine. The meeting took place in Washington DC on Tuesday, February 26, 2019.
In his opening presentation, Mr. Bilak highlighted the biggest achievement of UkraineInvest – changing the nature of the dialogue between Government of Ukraine and business. “There is no more country in the world that accomplished more in such a short period of time”, - Dan stated. Among fundamental changes that happened recently: anticorruption measures, deregulation, economic stabilization, VAT refund, outreach to foreign investors and some major projects in place.
In the picture left to right: Morgan Williams, USUBC; Van Yeutter, Cargill; Dan Bilak, UkraineInvest, Edward Verona, Trident Acquisitions;
He also recalled the success of UkraineInvest-sponsored Invest Day at Ukraine House Davos, where EBRD President Sir Suma Chakrabarti declared Ukraine "open for business because of the success of government’s reforms".
According to Mr. Bilak, investors now consider Ukraine a stable and secure emerging market, supported by a regulatory environment pursuant to the EU-Ukraine Association Agreement and DCFTA. All these factors together with high-quality, but undervalued assets, with high yields, and a competitive labor market make this the best time to invest in Ukraine.
Daniel Bilak also spoke about the biggest opportunities for doing business in Ukraine now, such as green energy, agriculture, IT, gas extraction and tourism. He named the main factors that are blocking the course of reforms, particularly lack of justice and corruption.
Among 45 attendee of the luncheon there were representatives of the following companies: Cargill, Dinsmore & Shohl LLP; OPIC; U.S. Department of Commerce; U.S. Department of State; White & Case; USUF; CRDF Global; CIPE; Kyiv Post, Amsted Rail Inc; McCarter & English LLP; APCO WOrldwide; Embassy of Ukraine in the U.S; Hideez Group; Federal Cultural Foundation USA; The Peoples Group; IMF, World Bank; Culhane Meadows PLLC; Promontory Financial Group; Astana Law Partners; Trident Acquisitions; First International Resources; Pierce Capital Partners and others.
USUBC thanks McCarter & English law firm, a new member of USUBC, for hosting the USUBC Business Luncheon in Washington.