25 November 2014 Federation of Employers of Ukraine

The FEU Initiated Establishment Of International Fund For Ukraine Restoration 

The Federation of Employers of Ukraine holds talks on establishment of an international fund for restoration of Ukraine amounting to 200-300 billion dollars. This was stated by the FEU President Dmitry Firtash during the meeting of the board of the organization.

"We estimate the need of raising between USD 200 and 300 billion for the restoration of Ukraine's economy. With the participation of the European Union, there is a necessity to create a special fund able to distribute these funds among the sectors and enterprises in Ukraine. The European party's chief demand is that this money will not be allocated to the Government, it can be provided only for management of the Ukrainian business community able to secure return of these funds", stressed Dmitry Firtash. According to him, European politicians' and experts' credibility of Ukraine, as a country that can be invested in, is undermined.
 
"The Europeans ask to make clear the rules of work in Ukraine. Since 2005, in their minds nothing has changed – there is a constant conflict in the Constitution between the president and the prime minister, and over the past 10 years, the situation in the country has not changed, only the names have changed”, said the FEU President. According to him, Ukraine needs a constitutional reform to clearly define the powers of the president, parliament and government to avoid conflict between the branches of government.
Dmitry Firtash remarks that under preliminary arrangements specialists of several European think-tanks jointly with the Federation of Employers of Ukraine will carry out work to study the situation in Ukraine's economy and each of the sectors' needs in financial resources.

"It is necessary to use the German experience. After the reunification of Germany, about 2 trillion douche marks had being invested in its eastern part during 25 years. Today Ukraine should also build the economy “from scratch”. The Federation of Employers of Ukraine, with a clear understanding of Ukrainian enterprises’ needs and country’s investment potential, can provide all the necessary information to foreign investors for development of a clear investment plan, under which funding can be provided. This is the only way we can help to attract investment and restore the state's economy", said Dmitry Firtash.
 
“Today we as employers have no right to stand aside and watch. We need to clearly understand that the business is responsible for the economy, and nobody in this country will build it for us. I will say even more, today the question of economy salvation is a question of saving the country. Therefore, the position of business today plays a key role”, said the FEU President.
 
Dmitry Firtash said that the Federation of Employers of Ukraine also needs strengthening for the implementation of such an ambitious plan. In particular, sectoral committees, which will carry on dialog with the government on important industry issues on a daily basis, will be created under the FEU. "If we do that - we do not just back the government and the president, but also become part of the executive branch in matters of economic policy”, said Dmitry Firtash.
 
In addition, the FEU will work on creating a parliamentary inter-faction association of employers. "It is important that the maximum number of MPs from all factions will enter such association, regardless of political views. I hope that it will be one of the major structural forces in parliament, which will become the main lobbyist for non-populist laws necessary for the country’, stressed Dmitry Firtash.
 
In 2015, the Federation of Employers of Ukraine plans to open an office in the political center of the European Union – Brussels.
 
"In fact, it will be an embassy of the Ukrainian business in the European Union”, said the FEU President. According to him, the main objectives of the FEU representative office in Brussels will be to work on the implementation of the agreement on free trade zone between Ukraine and the EU, attracting European investments in Ukraine and dialogue on the establishment of a common market of Ukraine, the European Union and the Eurasian Economic Union.