Washington, August 10, 2023 — The Center for International Private Enterprise (CIPE) today released a report titled “Private Sector Priorities for Ukraine’s Recovery”. The paper describes a window of opportunity for Ukraine’s eventual post-war recovery, outlining the governance and private sector reforms required for successful reconstruction. Our on-the-ground research details the combined opinions and positions of more than 40,000 Ukrainian businesses across 200 business associations.
“Despite the war Ukraine is better placed to succeed than it was before the conflict,” said Natalia Otel Belan, Regional Director for Europe and Eurasia at CIPE. “This report elevates the voice of Ukrainian businesses and CIPE’s partners to help to set priorities.”
Ukraine’s private sector accounted for 60% to 70% of the Ukrainian GDP before the war and has historically been the main driver of the country’s economic growth. CIPE’s report delivers insights and intelligence from the country’s executives and entrepreneurs to show how greater transparency, improved governance, and other democratic reforms will accelerate the country’s reconstruction and ensure the long-term growth and sustainability of its economy.
The paper details economic challenges related to compliance risks and concerns from continuous military actions across Ukraine. But it also finds realistic reasons for hope, including the successes Ukrainian leaders in politics and civil society have already achieved. These include a high level of public trust in government, a willingness and readiness of business associations to assist recovery efforts, and a well-functioning electronic procurement system called ProZorro, which has provided increased transparency and accountability in government contracting.
CIPE and its partners in Washington and across Ukraine call for a comprehensive and strategic approach to reconstruction efforts. As outlined in the report, the priorities include institutional changes such as a legal framework to increase local companies’ participation in government contracting, promoting transparency in decision-making, and ensuring the availability of affordable loans for Ukrainian companies to restore public and private infrastructure. A copy of the full paper can be found here.
The Center for International Private Enterprise (CIPE) is a global organization that works to strengthen democracy and build competitive markets in many of the world’s most challenging environments. Working alongside local partners and tomorrow’s leaders, CIPE advances the voice of business in policy making, promotes opportunity, and develops resilient and inclusive economies. To learn more about CIPE, visit cipe.org, LinkedIn, Facebook, or Twitter.
CIPE Communications Department
Published Date: August 11, 2023