With help of EU, Ukraine may achieve min $500 bln GDP worth by 2030 - Expert

With help of EU, Ukraine may achieve min $500 bln GDP worth by 2030 - ExpertThe European Union should mainly focus on representatives of Ukrainian non-oligarchic backbone businesses, as the Ukrainian state vertical is incapable of interacting effectively with European partners in the implementation of plans for Ukraine's economic renaissance.

This opinion was expressed by Coordinator of Ukrainian Business Initiative (UBI) Andriy Nikolayenko in an interview with Interfax-Ukraine.

"In its 25 years of independence, Ukraine has seen about 20 governments. The average term of the Ukrainian Cabinet's tenure is one and a half years. During this time, many officials only have time to figure out how to steal from losses. They have no time they for anything else. However, success stories of many Ukrainian businessmen who represent non-oligarchic backbone businesses last for 15-20 years. This is businesses, unlike governments, have a strategy, there is an understanding of the specifics of the markets and responsibility for the future of the country," Nikolayenko said during the 26th international economic forum in Krynica-Zdroj, Poland.

A group of economists is now working out a number of scenarios of a large-scale economic revival of Ukraine at the UBI's request, he said. Estimates show that Ukraine, with the help of the European Union, is able to achieve GDP worth at least $500 billion by 2030, which would require $16-17 billion in foreign direct investment annually. The state should provide general political support to this process, but the formation of sectoral priorities, designation of drivers of the economy and the distribution of incoming resource should be assigned to Ukrainian businesses, Nikolayenko said.

"Only horizontal connections, only B2B contacts will prevent the Ukrainian authorities from hiding European investments in their pockets," he added.

The Ukrainian Business Initiative (UBI) brings 30 entrepreneurs together on the basis of personal participation and responsibility. These are representatives of large and medium-sized enterprises doing business in the most powerful sectors of the national economy: metallurgy, agribusiness, engineering, IT, finance, construction, crude oil production, retail, etc.
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