Keynote Speech — Hugues Mingarelli. 14th Annual Ukraine Investor Conference

Dragon Capital held its 14th Annual Ukraine Investor Conference on March 1-2 in Kyiv. As in previous years, the event gathered close to 300 guests, with top speakers addressing the audience of international and local investors including Prime Minister Volodymyr Groysman, other government members, top management of leading Ukrainian companies, representatives of international financial institutions and western diplomats. Over 25 Ukrainian and foreign TV channels, news wires and other print and online media covered the event.
Below please find highlights from the keynote speech delivered by Hugues Mingarelli, Head of EU Delegation to Ukraine.
The two main reasons why investors should believe in Ukraine are the determination of the majority of its population to modernize the country in line with European standards and its exceptional assets such as a strong civil society, which operates as a watchdog for the political class.

• Civil society will act as a deterrent to a populist victory in the upcoming elections, preventing a reversal of reform achievements of the past several years. The reform period is never an easy transition for any economy, and Ukraine is no exception. It is important to remain patient and realistic about the pace of reforms.

• Lack of rule of law is the key problem in Ukraine. Establishing the AntiCorruption Court (ACC) in line with the recommendations of the Venice Commission and continuing with reform of law enforcement agencies should be the top priority for Ukraine.

• Other key reforms on the agenda are privatization (restructuring, liquidation and privatization of state-owned enterprises) and land reform, which would unlock Ukraine’s investment potential and create jobs. New jobs would also be instrumental in curbing labor migration.

• Social inequality remains a major issue and has to be taken into account when implementing reforms to prevent further empowering of populist movements.