Rebuilding Ukraine Forum - Bucharest 2023

According to the organisers, the forum is a high-level international event that serves as a platform for promoting dialogue, collaboration and action for the reconstruction of Ukraine.The Rebuilding Ukraine Forum - Bucharest 2023 provides a favourable environment for stimulating partnerships, exchanging knowledge and generating practical solutions for the sustainable development of Ukraine.The forum is organised under the High Patronage of the Prime Minister of Romania and the Prime Minister of Ukraine and hosted by the Romania-Ukraine Bilateral Chamber of Commerce in partnership with the Embassy of Ukraine in Romania, US Institute of Diplomacy and Human Rights, Ukraine's Chamber for Sustainable Development Diplomacy, Romanian Association of Military Equipment Manufacturers (PATROMIL) and New Strategy Center.   Ukraine appreciates Romania's constant solidarity and its dignified response to the threats and provocations arising from the Russian aggression on a broad scale, Ukrainian Prime Minister Denys Shmyhal told the Rebuilding Ukraine Forum on Wednesday.We appreciate your constant solidarity with our communities, your dignified response to the threats and challenges stemming from Russia's broad scale aggression, is one of the key challenges to the unprecedented destruction of the Ukrainian economy and the destroyed or damaged infrastructure: 160,000 houses, 3,500 schools, 1,200 hospitals. Russia continues to do the same with our grain, that's why we expect a new global food crisis in the near future, the Ukrainian Prime Minister stressed in a video message.Denys Shmyhal added that Ukraine is counting on the active participation of private business in the reconstruction of the country and he extended an invitation to Romanian entrepreneurs to do so.We count on the active participation of private business in the reconstruction and invite Romanian entrepreneurs to invest in Ukraine, it is a promising investment in our common future, the Ukrainian Prime Minister said.He also referred to a register of damages for Ukraine, which has already been set up at EU level, as a first step towards an international mechanism to compensate the victims of the Russian aggression.   In the opening speech, Ukraine's Deputy Minister of EconomyVolodymyr Kuzyo said on Wednesday that Ukraine has the necessary measures to facilitate the transport of raw materials, incentives in terms of drawing capital, and for drawing in foreign investment there are initiatives such as war risk insurance and protection for investments,He told the Rebuilding Ukraine Forum - Bucharest 2023 that in 2023, the World Bank collaborated with the Government of Ukraine and other interested parties to assess the needs of Ukraine, which are put at USD 400 million for the next ten years. The money should contribute to the economic revival of Ukraine, while being an opportunity for reconstruction that will generate a surplus in the profits of companies that will choose to invest in the reconstruction of Ukraine.According to him, the economic model of Ukraine is based on and starts from raw materials to final products with added value.He added that Ukraine will have the opportunity to unlock significant economic perspectives, especially in anticipation of its integration with the European Union.He said Ukraine's Ministry of Economy of Ukraine is working on the development of a fund that will round up the activity of other national institutions, increasing the number of quality investment opportunities for private capital to participate in the reconstruction of Ukraine.Currently, there is a recovery plan developed by the European Union for the reconstruction of Ukraine worth EUR 50 billion euros. A comprehensive instrument that will boost the economy will be in place at least for the next four years, according to Kuzyo.The plan, added the minister, brings together several segments in the medium, long and short term, getting the energy sector, the transport and logistics sector, the IT sector and the communications sector, mechanical engineering and other sectors engaged.Ukraine's main priority is making sure all the programmes are insured against war risks, as it wants to be able to secure a favourable business climate, which in turn will draw private capital and private investors that support long-term reconstruction initiatives.Kuzyo acknowledged a Romanian export bank that provided insurance for political risks related to capital investment.