The Business Advisory Council meeting went well. All the CEOs from the various countries gave their frank ideas about what needs to be done to enable Western businesses to invest in Ukraine.
Surprisingly, many companies have stayed in Ukraine (McDonald’s, for instance, has more stores there now than they did before the war started and is still opening new ones up). In fact, that’s one of the things we learned. Despite the war, Ukraine’s economy is actually growing.
Me in Kyiv last week, trying to grab a quick Big Mac. However, because of the increased Russian attacks on infrastructure there, they have to withstand frequent periods without electricity. Tough living with no power. And, with winter coming, energy was one of the top issues of the G7 Recovery and Reconstruction Conference.
The first person to address the BAC was Yulia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy. She outlined the tough situation they face daily, but even more so, the strength, resilience, and ingenuity that Ukraine has displayed since the start of the war. It is clear to see from her and the other government officials here that Ukrainians are doing the fighting and dying to stop this aggression here and now (rather than have it continue westward) and just need the support of the democratic nations of the world.
First Deputy Prime Minister, Yulia Svyrydenko, sitting next to BAC Chairman, Christian Bruch, giving her open remarks to the Business Advisory Council.
The group at work
Proud to represent. One of the other reps from the US is Steve O’Bryan, of Northrup Grumman, the Technology/Defense company.
Secretary Penny Pritzker, US Special Representative for Ukraine’s Economic Recovery was the lead US rep for this conference, and her was discussing the efforts with leading Ukraine government officials
The BAC’s work was completed and we will follow up with further communications and meetings. We have our work cut out for us and will endeavor to make the case that it is important to invest NOW, and not wait if possible.
One thing Secretary Pritzker is working on is getting more air defense committed so that other parts of the country can be better protected. And, the 3 US CEOs will be sending a letter to the administration asking them to better identify the actual major danger zones (by region) so that company reps can travel more easily to Ukraine and see for themselves that in a large part of the country, life goes on as usual, and though “at war,” the whole country is not a war zone. Would be good for other business leaders to be able to see that for themselves. I think there is a misconception about how things are there.
I know when people heard Derek and I were going to Ukraine, they all asked, “Aren’t you scared?” But, honestly, in a week, we did not see many signs of war. It’s like if there was fighting in New Jersey, how endangered would folks in Chicago or LA feel?
Ukraine is a big country, and businesses CAN be there now (and many are). As I said, their economy is growing. They are looking forward to a “Western” future and doing the fighting and dying-just asking for our support.
More of the conference tomorrow.
Night night 🙂
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