• Українською
  • Major business event of the fall - the two-day Made in Ukraine Business Forum - has started in Kyiv
    Ministry of Economy of Ukraine, posted 11 October 2024 19:27

    The Made in Ukraine Business Forum, organized by the United Nations Development Program (UNDP) in Ukraine in partnership with the Ministry of Economy of Ukraine, the Ukrainian Chamber of Commerce and Industry and the Kyiv Mohyla Business School with financial support from the Government of Japan, aims to better inform entrepreneurs about the Made in Ukraine policy launched in February this year.

    The event has become an important platform for the exchange of experience between entrepreneurs, investors, and Government officials. The main topic of the Forum is to discuss ways to support Ukrainian business and its contribution to the country's economy through innovative solutions that contribute to sustainable development and economic recovery of Ukraine.

    In addition, entrepreneurs at the Forum will have the opportunity to present their products at the trade fair, attend master classes from leading companies, find new partners and conclude deals in the B2B negotiation zone. Participants will also learn from the creators of the Made in Ukraine policy and international partners about business support opportunities.

    First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko emphasized: “The Made in Ukraine policy is a key element of our economic recovery. We are striving to move from a raw material economy to a processing economy by developing production, attracting investment in the real sector, and stimulating non-resource exports. This will help strengthen the economy and create new jobs. This transformation is aimed at making Ukrainian business competitive, creating high value-added products and becoming the engine of our economic recovery.”

    Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine Kuninori Matsuda said: “Japan has pledged and implemented more than USD 12 billion in assistance and will continue to provide budgetary, humanitarian and energy support to Ukraine. In response to the significant efforts of the Government of Ukraine to improve the investment climate, Japan continues to invest all available resources to consolidate the institutional environment for business development. We are also committed to supporting the Made in Ukraine initiative and assisting UNDP in organizing exhibitions and business forums such as this one.”

    UNDP Resident Representativein Ukraine Jaco Cilliers said: “Today's event once again confirmed that Ukrainian entrepreneurs are a powerful force capable of rebuilding and transforming Ukraine's economy. They demonstrate incredible resilience and innovation, which are the foundation for Ukraine's recovery. UNDP is proud to be a part of this process, supporting the Government in implementing its Made in Ukraine policy and promoting inclusive economic development.”

    Background information

    Prior to the full-scale invasion, Ukraine had 1.9 million micro, small and medium-sized enterprises (MSMEs) that had played a key role in the economy. However, as a result of the war, 65 percent of these businesses were forced to temporarily or completely shut down. Although many of them have resumed operations, their production capacity has dropped significantly, from 72.4% to 45.7%. This significant decline emphasizes the urgent need for further support to MSMEs from both the Government and international partners to help the sector recover and grow.

    The main challenge faced by MSMEs in Ukraine is the lack of human capital, which has been exacerbated by the war. Currently, 8.4% of MSMEs operate with less than 40% of the required number of staff. As a result, 80% of companies plan to increase wages by 10-30% by the end of 2024. Despite these challenges, 76% of MSMEs managed to maintain their human resources as of March 2024, demonstrating resilience in the face of economic challenges.

    UNDP plays a key role in supporting MSMEs and fostering inclusive economic growth in Ukraine. Since the outbreak of full-scale war, UNDP, in collaboration with partners, has intensified its efforts to support MSMEs, which account for more than two-thirds of employment in the country. In particular, more than 1,500 entrepreneurs have received grant support, resulting in the creation of more than 4,500 new jobs, and UNDP-supported business associations now unite more than 6,000 MSMEs employing more than 160,000 people. In addition, UNDP promotes human capital development through support to the vocational education system, providing training in 30 vocations to more than 1,240 students and improving the infrastructure of educational institutions.

    The Made in Ukraine Business Forum originates from East Expo, UNDP's annual flagship business event, which was held from 2017 to 2023. During this time, eight exhibitions took place: two regional and six national (one of them online), held in Kramatorsk, Sievierodonetsk, Kyiv and Lviv. This allowed 350 Ukrainian MSMEs to present their products and services to a wide audience. As a result, approximately 70% of them found clients and partners through B2B meetings held during the events, and more than 13,000 people visited the exhibitions in total.

    In 2024, a successful partnership with the Made in Ukraine initiative allowed us to transform East Expo, which had a regional focus, into a nationwide business development event - the Made in Ukraine Business Forum.