fbpx

EBA Cross Regional Coordination Councils Meeting

17/ 12/ 2020
  An online meeting of members of the EBA Regional Coordination Councils from Dnipro, Lviv, Odessa and Kharkiv took place on 17 of December. Participants summed up the results of 2020 in the industries they represent and shared their expectations of upcoming 2021. The logistics industry has been transformed because of quarantine restrictions and closed borders. At the same time, orders for rail and sea transportation have increased. 2020 was not as bad as expected in this sector of the economy as carriers managed to recoup profits in July, which they lost in April. In the IT sphere, small companies stopped their work or joined some larger market players. The medium and large ones were able to transform quickly. Almost all businesses needed to digitalize their processes, so the IT industry has expanded in the domestic market. Representatives of manufacturing companies noted that those companies, which had strong business models were able to survive and even pay dividends to their shareholders and prove, that Ukraine is a reliable partner even in difficult times. The management of production companies reconsidered their production processes, and they were forced to implement innovative solutions. Some of them started to invest in automation process, other ones in optimization. However, publishing industry have been severely affected restrictive quarantine measures. Therefore, this sector needs time to recover and support. Good news, that the real estate market is in good condition from June to November, but the forecasts were disappointing. Foreign currency deposits and the opportunity to take a cheap loan for real estate (10% -12%) saved the residential real estate market, especially in Kharkiv region. According to opinion of legal and financial advisers from the Regional Coordination Councils, investment projects that were planned to implement in 2020, have been suspended. We cannot expect that many foreign investors will come to Ukraine next year but signed Memorandum of Cooperation with Great Britain will be a new opportunity for the Ukrainian exporters. There is also hope that new locomotives will help to develop the economy. We discussed also positive trends in land reform, gambling prospects, innovative industries, which will attract new investment to Ukraine. The result of the meeting was an understanding that each of us is different and experiences this crisis differently. However, together, we can be extremely effective and thanks to common values and using the resources of the EBA, change Ukraine for the better place for making business! We are grateful to all participants for their active position in the Association and to Yulia Krasnova, Head of the EBA Regional Development Department, for excellent moderation and coordination during the year! We are walking together with optimism in 2021!

An online meeting of members of the EBA Regional Coordination Councils from Dnipro, Lviv, Odessa and Kharkiv took place on 17 of December. Participants summed up the results of 2020 in the industries they represent and shared their expectations of upcoming 2021.

The logistics industry has been transformed because of quarantine restrictions and closed borders. At the same time, orders for rail and sea transportation have increased. 2020 was not as bad as expected in this sector of the economy as carriers managed to recoup profits in July, which they lost in April.

In the IT sphere, small companies stopped their work or joined some larger market players. The medium and large ones were able to transform quickly. Almost all businesses needed to digitalize their processes, so the IT industry has expanded in the domestic market.

Representatives of manufacturing companies noted that those companies, which had strong business models were able to survive and even pay dividends to their shareholders and prove, that Ukraine is a reliable partner even in difficult times. The management of production companies reconsidered their production processes, and they were forced to implement innovative solutions. Some of them started to invest in automation process, other ones in optimization.

However, publishing industry have been severely affected restrictive quarantine measures. Therefore, this sector needs time to recover and support.

Good news, that the real estate market is in good condition from June to November, but the forecasts were disappointing. Foreign currency deposits and the opportunity to take a cheap loan for real estate (10% -12%) saved the residential real estate market, especially in Kharkiv region.

According to opinion of legal and financial advisers from the Regional Coordination Councils, investment projects that were planned to implement in 2020, have been suspended.

We cannot expect that many foreign investors will come to Ukraine next year but signed Memorandum of Cooperation with Great Britain will be a new opportunity for the Ukrainian exporters.

There is also hope that new “locomotives” will help to develop the economy. We discussed also positive trends in land reform, gambling prospects, innovative industries, which will attract new investment to Ukraine.

The result of the meeting was an understanding that each of us is different and experiences this crisis differently. However, together, we can be extremely effective and thanks to common values and using the resources of the EBA, change Ukraine for the better place for making business!

We are grateful to all participants for their active position in the Association and to Yulia Krasnova, Head of the EBA Regional Development Department, for excellent moderation and coordination during the year!

We are walking together with optimism in 2021!

If you have found a spelling error, please, notify us by selecting that text and pressing Ctrl+Enter.

Start
in the Telegram bot
Read articles. Share in social networks
0 Shares

Spelling error report

The following text will be sent to our editors: