The key topic of the Kyiv International Economic Forum (KIEF), that took place in Kyiv on October 2, 2014, were the economic reforms Ukraine needs,and ways of their implementation. The discussion keynote was the idea of Eric Reynart’s book «How rich countries became rich and why poor countries remain poor». The author tells that the secret of success lies in the combination of government intervention, protectionism, and strategic investment.
Another panel discussion was devoted to the agriculturethat plays an important role in the economy of Ukraine. It produces more than 8% of the GDP andprovides 5.5% of all the workplaces. Despite this, agriculture is developedsignificantly below its potential, which is clearly confirmed by international comparisons of productivity. Ukraine has everything needed for the success: talented people, advantageous geographic position, favorable climate and soils. But for a long time the country lacked a pragmatic pro-Ukrainian policy. However, to develop a strategy that will increasingly satisfy all of the stakeholders we need to make concessions and compromises, because the goals of the players at this market are very different.
Good business climate is needed toattracts foreign and domestic investments. This topic was discussed during the «Financing of development projects»panel.There can’t be a boom of foreign investments without an active and adequate state investments, and domestic investors. The favorable investment climate indicators are defined with the ease of doing business, level of corruption, competitiveness, tax burden,propertyprotection. However, this is only one of the basic conditions to begin the development. Experts and businessmen believe that we need a different approach tothe state investments, which should be a catalyst for the foreign and domestic private investments. Funds should be especiallydirectedto the industries ignored by private investors, and the development of breakthrough priority sectors.