What 24 February 2022 Means for Us – Waschuk, Akhmetov, Hunder, Derevyanko

From the editors:

In connection with the second anniversary of Russia launching its all-out war against Ukraine, we have invited a number of prominent political, business and military people, analysts and journalists, to share their thoughts on what this somber date means for them and for all of us.

Roman Waschuk

Two years of all-out war, air strikes and floodgates opened - and Ukraine’s entrepreneurs keep on rebuilding and innovating. Thankfully, there are arms of government which are supporting and enabling business via grant and loan programs. Unfortunately, there are also arms of the state which are reaching out to impede and imperil economic activity. Existentially important external financial support should be predicated on helping the former forces prevail over the latter. That will lay the groundwork for a sustained recovery on the road to victory.

Roman Washchuk is Business Ombudsman and former Canadian Ambassador to Ukraine.

Rinat Akhmetov

The conflict that began for Ukraine and for us in 2014 has escalated into a full-scale and particularly brutal war over the past two years. And it is still ongoing. This means all of us must intensify our efforts toward our collective victory.

In the coming year, I and all SCM businesses are going to amplify our support for our Defense Forces and Ukrainian civilians. We will continue to help the Ukrainian Army by constructing underground shelters, producing mine sweepers, and providing essential equipment and resources for saving lives.

Other Topics of Interest

Ukraine Doing Much Better on the Front Than It’s Being Given Credit For

Contrary to some of the reporting by leading Western news outlets, Ukraine is not wavering, but holding up and inflicting heavy losses on the Russian invaders.

Most importantly, we will continue to support people – the Ukrainian civilians affected by the Russian aggression, the defenders of Mariupol who will continue to receive all the support they need, and the veterans who made it possible for us to live on our land, in a sovereign and independent Ukraine.

Our assistance will not wane until peace reigns over the skies of Ukraine once again. I am confident that we will defeat the enemy together and build a new, strong, and flourishing Ukraine.

Rinat Akhmetov is President of System Capital Management (SCM)

Andy Hunder

Ukrainians have inspired the free world. It's been two years since lionhearted Ukrainians took on this existential fight and continue to defend freedom, sovereignty, and independence, confronting the brutal Russian invasion.

84% of AmCham members have employees who are serving in the Armed Forces of Ukraine. 29% have had instances of employees killed; 30% of companies have had their plants and facilities damaged.

But despite the hardship, suffering, and losses, and inspired by the brave defenders, the business community continues to operate and believe in Ukraine, keeping the economy running, taxes paid, and Ukrainians employed.

Ukraine remains open for business. According to AmCham's latest survey, 86% of AmCham members are fully operational.

Give us the tools, and we will finish the job – a bold signal AmCham Ukraine is sending today to the United States and international partners on the continuation of military and financial support.

Now is the time to support Ukraine as global security is at stake.

Andy Hunder is President of the American Chamber of Commerce in Ukraine.

Anna Derevyanko

Observations we perceive among the EBA members - during these two years of the war, business survived and continues to work.

At the beginning of the war, we had companies that did not work (29% in March, 4% in April), now there are none. Business continues to pay taxes and pay salaries to employees.

During this period, we observed minor changes in the financial stability of companies. This does not mean that business does not incur losses. It's just that during this period, companies are gradually finding ways to continue working and developing. And the picture is similar to the losses of companies.

At the same time, during these 2 years problems and issues that are relevant for business have changed.

At the beginning the issues of energy, macroeconomic stability, stability of the banking system, and the stability of the telecommunications system were relevant. Now, issues related to people have come to the fore - reservation of employees, mobilization, migration, and the difficulty of finding qualified personnel for vacancies.

Nevertheless, business believes in the future, it continues to invest, improves expectations regarding the financial income of the already existing business, etc.

How can further business sustainability be promoted? We, as a country, need more trust and unity – between business and authorities, society, and authorities, etc.

It is shaped by communications. Honestly, business has no desire to attack the government, understand challenges that are in place complexity of decisions.

However, companies want to be heard. Therefore, it is important to build platforms where we can hear each other or, at least, have an opportunity to talk.

This dialogue, for sure, will motivate companies not just to stop but to move further; will help us to understand that they are important.

Anna Derevyanko is Executive Director at European Business Association, Kyiv.