ICBAC-activities to foster investment, especially through a political risk and conflict insurance.
ICBAC is proposing the establishment of a political risk and conflict insurance in Ukraine in order to foster investment, mainly foreign direct investment which had been extremely poor in the past years keeping growth of Ukrainian economy at an inadequate level indeed.
Based on an earlier initiative by Bate C Toms, Chairman of the British-Ukrainian Chamber of Commerce, ICBAC is both lobbying political stakeholders in the international community being potential donors of guarantees as well as addressing President Zelenskyi and his team to include such proposal into the agenda of the Ukraine Reform Conference in Toronto on July 2 – 4.
For this purpose ICBAC has given interviews in UA-TV and has posted a pertinent resolution as well as a commentary thereon in Kyiv Post – see pages 2 and 3 of the issue dated June 27 enclosed. Kyiv Post_27.06.2019
ICBAC-initiative on establishment of a political risk insurance fund
Ukraine urgently needs investment in order to grow and prosper. Foreign Direct Investment would be much higher in the absence of political risk.
Alfred F. Praus/President of UAA and General Secretary of ICBAC moderating the discussion with Daniel Bilak/President of UkraineInvest, Bate C. Toms/Chairman of BUCC who had taken the initiative on such topic, and people from the audience such as Viacheslav Andriyko/General Director of Willis Towers & Watson, Alexander McWorther/Managing Director of Citibank Ukraine, Ukrainian President team and Canadian Embassy. ICBAC-proposal is planned to be presented at the Ukraine Reform Conference on July 4 in Toronto. Still some lobbying ahead to hopefully make it a success.
Interview with General Secretary of ICBAC at UA-TV
General Secretary of ICBAC Alfred F. Praus presents ICBAC at UA-TV on March 11.
To check the interview, please follow the link: https://www.youtube.com/watch?v=WtSLhCdrXUQ
2019 Second Regular Meeting of ICBAC
On February 28 it was decided to specifically deal with political risk insurance, strategies and measures for curbing labour outflow and brain drain, foster further development of Ukrainian IT-industry in a proper legal format.
2019 First Meeting of ICBAC
On February, 11 a regular meeting of ICBAC members was held.
The President of Ukrainian-Austrian Association Alfred F. Praus, appointed as General Secretary in 2019 of ICBAC, has taken over the main tasks to make ICBAC more active and visible.
ICBAC will continue to deal with specific issues, which are basic prerequisites to increased foreign direct investments as the main driver for growth and hence enhanced prosperity. The practical experience and recommendations of its member companies will be brought forward to the competent ministers and other relevant institutions. Besides education and training in order to improve standards of Ukrainian business, strategies and measures to curb the labour outflow are among the priorities set.
For that purpose ICBAC-members will reconcile actions by way of monthly Jour Fixes and envisage to organize several events, among them a large conference in cooperation with UCCI in September 2019.