SCM HIGHLIGHTS THE IMPORTANCE OF UKRAINE’S PRIVATE SECTOR AS THE WORLD GATHERS FOR THREE CRUCIAL CONFERENCES

Ukraine Recovery Conference, the G7 and Ukraine Peace Summit put the spotlight on planning for Ukraine’s future as a European country

KYIV, UKRAINE, June 14, 2024 /EINPresswire.com/ -- In this important week for Ukraine’s future as a part of Europe, with the Ukraine Recovery Conference, the G7 meeting and the Ukraine Peace Summit, SCM has welcomed the focus on the practical steps that will drive Ukraine’s recovery. On the political level, that has included confirmation that Ukraine is ready to begin EU accession negotiations. And it has led to the development of business partnerships that will prove very valuable when the situation in Ukraine allows.

Natalya Yemchenko, Chief Corporate Affairs Officer of SCM, said, “Business has, for the first time, been a key focus for the Ukraine Recovery Conference, alongside the importance of Ukraine’s cities and regions. This is an important shift because it shows the international community is beginning to think beyond the war.

"Because of the war, we are not yet in the position to talk about post-war reconstruction and attracting capital from large international investment funds. Now is the time to implement development projects in Ukraine, which are necessary for our country to win. This means developing partnership with foreign business in various industries, from energy, to logistics, from communications to agriculture, and from military technology to processing.

“So we have used this week to build and strengthen business-to-business relationships, which are the necessary precursor to any long-term partnerships.”

DTEK, SCM’s energy business, signed agreements with GE Vernova, Honeywell and Schneider Electric to support the rebuilding of the energy infrastructure. This follows DTEK’s development of the Tyligulska Wind Power Plant, in partnership with Vestas, the Danish sustainable energy specialist. These are important partnerships because they are integral to providing energy security now, as well as paving the way for deeper business partnerships between Western and Ukrainian businesses.

Yemchenko continued, “SCM is the biggest investor in Ukraine, with widespread investments across the country. Here at the URC in Berlin, there has been a lot of focus on the energy sector. We have invested billions of dollars in rebuilding our energy infrastructure through DTEK, our energy business.

"This is a two-way process. SCM as an international investment company that, for many years, has also been investing in Europe, largely through DTEK and Metinvest, our metallurgy businesses. This is important for three reasons. It gives us valuable experience of working with new partners, and them with us, to build a trust in Ukrainian business. It helps to open foreign markets for Ukraine's goods and services. And it enables us to find, create and implement innovative solutions and practices that we can bring to Ukraine.”

Cities’ plans were also discussed as part of the URC, including the Mariupol Reborn project. This is aimed at reviving de-occupied Mariupol and is being implemented with SCM sponsorship in partnership with the Mariupol City Council.

Mayor of Mariupol, Vadym Boichenko, said, “Victory is our common goal and the dream of all Ukrainians. And we have to be ready for it, because after the victory, we will have painstaking work on the reform of the country. This means that we have to develop projects and strategies now, including looking for partners and funding. When time comes, we have to know exactly what we have to do to bring people back and reintegrate the territory. These are the issues Mariupol Reborn is addressing, with the Ukrainian government, international partners and big business.”

SCM is also supporting a wide range of humanitarian projects, for example providing housing for internally displaced Mariupol families, and extensive support for the defenders of Mariupol and their families.

Yemchenko concluded, “SCM is a business but we are nothing without people. That is why we have spent so much time and resources providing humanitarian support. Without Ukrainians, Ukraine can’t exist. I know the russian aim is to destroy Ukrainians but we are doing everything we can to make sure their plans fail.”

ABOUT SCM

SCM is Ukraine's largest investment group operating worldwide. Currently, SCM enterprises and holdings operate in Ukraine, Cyprus, the Netherlands, Italy, Bulgaria, Switzerland, the United Kingdom, and the United States. Rinat Akhmetov, Ukrainian businessman and philanthropist, is the sole owner and investor of SCM.

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