Entrepreneurship and Innovation Today

Canada – Ukraine Business Summit-March 11-14, 2008, Dnipropetrovsk & Kyiv, Ukraine

    

Ukraine’s economy is booming with  GDPgrowth of 8%, consumer spending at 15%, imminent WTO accession, a strong science and technology base, pro-democratic developments and EU proximity.  All of this means that now is the time for Canadian companies to focus on Ukraine as the next emerging market in Eastern Europe.  European, Asian, American and Russian exporters and investors have been quick to realize Ukraine’s potential and have already set up distribution channels for their products or invested millions in its industries, banking, real estate and agro-food sectors to name a few.

To help assist Canadian companies identify new trade, technology and investment opportunities, the Department of Foreign Affairs and International Trade, the Science and Technology Centre in Ukraine  and selected Canadian and Ukrainian sponsors are organizing the first ever Canada – Ukraine Business Summit to bring together leading Canadian and Ukrainian businesses and representatives for the largest bilateral commercial event ever held.

The Summit is structured to provide companies with an opportunity to hear and meet senior business representatives from Canada and Ukraine, the European Bank for Reconstruction and Development, World Bank, the Science and Technology Centre of Ukraine, Export Development Canada, Invest Ukraine, and others on the latest developments, opportunities and assistance available to support bilateral business development.   

The Summit is being held on March 12^th and 13th in the hub of Ukraine’s industrial region, Dnipropetrovsk, in the business facilities of Agro-Soyuz, Ukraine’s most advanced agro-industrial complex and at the Yuzhnoe Missile Design Bureau Lisove conference facilities, both just outside of Dnipropetrovsk.  A final session and networking meetings will be held in Kyiv on March 14th.

The attached program and registration form provide further details on the event, how to register and accommodation options.  If you have any additional questions you are invited to contact either Michael Reshitnyk, Senior Trade Commissioner, Foreign Affairs and International Trade Canada, tel: 613 996-7701, fax:613 944-05, e-mail: michael.reshitnyk@international.gc.ca or George Grushchenko, Senior Trade Commissioner, Canadian Embassy in Kyiv, tel: 011 380 44 590-3199, fax: 011 380 44 590-3197, e-mail: george.grushchenko@international.gc.ca

Doing Business 2008 from the World Bank & IFC

Last month, the World Bank and International Financial Corporation (IFC) presented their annual report - Doing Business 2008.  According to this report, the most significant business reforms have been conducted in the countries of Eastern Europe and the former Soviet Union as well as in countries with emerging economies such as China and India. 

Worldwide Trends.  Doing Business 2008 is the fifth in a series of annual reports investigating regulations that enhance business activity.  178 economies are ranked on indicators as the most conducive to the operation of business.  The data for all sets of indicators in the report is benchmarked to July 2007.  This research is based on measurements of regulations affecting 10 areas of everyday business:

• starting a business,
• dealing with licenses,
• employing workers,
• registering property,
• getting credit,
• protecting investors,
• paying taxes,
• trading across borders,
• enforcing contracts and
• closing a business. 
• Such factors as macroeconomic policy, quality of business infrastructure, exchange rate variations, investors' opinions and the crime rate are also taken into consideration.

Singapore is #1 on the ease of doing business in the ranking for the second consecutive year.  Besides Singapore, the top ten world leaders include New Zealand, USA, Hong Kong, Denmark, Great Britain, Canada, Ireland, Austria and Island. 

Among post-Soviet countries, the highest places on the Doing Business ranking are occupied by Estonia (17th position), Georgia (18th position), Latvia (22nd), Lithuania (26th), Russia (105) and Ukraine (139th position)

Egypt is the top reformer of the year, improving in 5 of the 10 areas studied by Doing Business.

Along with Egypt, the top ten leading reformers include Croatia, Ghana, FYR, Georgia, Columbia, Saudi Arabia, Kenya, China and Bulgaria.  These countries have simplified new business registration procedures, ensured property rights, strengthened protection of investors, and increased access to loans. India, Indonesia, Turkey and Vietnam are also reforming with increasing speed.

On the whole, two hundred reforms -in 98 economies-were introduced between April 2006 and June 2007, 59 of which (52 positive and 7 negative) were conducted in Eastern Europe and Central Asia.  As a result, Eastern European countries surpassed East Asia in the ease of doing business.  Several of the region's countries have gone even further, surpassing many Western European economies.

79% of economies that have introduced at least one positive reform in 2006-2007 are in Eastern Europe and Central Asia.  Easing the regulatory burden has caused a boom in new businesses. 

For instance, Georgia now has 15 registered businesses per 100 people (same as Malaysia).  The Czech Republic and Slovakia have 13 (same as Singapore).  Estonia and Poland have 12 (same as Hong Kong, China).

One more key conclusion of the report is that the economies, which introduce the most significant reforms, have the highest profitability of the share capital.

Get overview here>>[...]