14:43 16.12.2020

Assessment of the capability for an "economic miracle" for Ukraine by Yevhenii Abu-Zeid

5 min read

At all times and under any management model, the words "economy" and "crisis" were paired, but with a different distribution of forces. We all witness this, but not everyone pays attention to the measures that are taken in such a situation. Some analyze and compare the experiences of different economies and try to deduce a number of effective principles for successful development in general, realizing that the well-being of their own business or activity depends on this. Such people include Yevhenii Abu-Zeid, a successful entrepreneur.

He was lucky enough to personally observe the standard of living and the impact of economic processes on it in many countries- Сanada, Kazakhstan, Albania, Greece, Belarus and Ukraine. As a result, and because of the fact that his activities are related to the industrial sector, he became seriously interested in economic issues, and in a global sense.

So who wins?

Given the fact that in 2020, not only the Ukrainian economy had to face unexpected problems due to the pandemic, the word "crisis" deservedly gets the palm. But the fact that this is a global trend suggests that it will be difficult to keep it. Since it is this course of events that encourages the development of new techniques and methods to get out of this very economic trap to stabilize the state of the world economy.

Everyone has their own experience in overcoming the crisis!

Showing particular interest in how other countries were coming out of the crisis, Yevhenii Abu-Zeid was able to analyze their mechanisms of action and draw certain conclusions that can be very useful and effective for Ukraine.

Of course, the introduction of the "social market economy" model in ukraine now seems very unrealistic, because it involves investing in industry. But this is an example of how actions lead to results, even when they are radical. It was in this scenario that Singapore emerged from the crisis, applying tough measures to combat corruption and introducing a new tax system.  Examples of Ireland with belt-tightening and austerity in everything after receiving financial assistance due to the 2008 crisis, or north korea with a complete violation of the social rights of its population, despite its effectiveness, cannot be called acceptable for Ukraine.

How to attract investment in the Ukrainian economy?

Today, according to Yevhenii Abu-Zeid, there are a large number of initiatives in Ukraine that require support. Their development opens up wide opportunities for the Ukrainian economy, as they are an effective tool for attracting the necessary investments and for strengthening in international markets.

One example is WTC Kyiv, which became a member of the Association of World Trade Centers in November 2020. This Commercial and Industrial Center is not only a business service center and a global network group, but also a new mechanism for economic development and investment for Ukraine. After all, WTC Kyiv facilitates business transactions by providing access to capital, strategic partners, and distribution channels around the world. It is particularly important that this Center will promote transparency in all its activities. And this will allow you to build a reliable relationship. After all, the main reason that Ukraine does not receive foreign direct investment is its opaque business situation and unreliable ship system. It is the built-up "Economy of Trust" that will allow us to offer reliable partners to foreign investors, and Ukrainian business will receive financing and access to global sales markets. It is the support of this sector of the economy that will allow, following the example of Germany, to achieve economic well-being in the state as a whole.

Projects like this in consolidation and aggregate can provide a powerful potential for the development of Ukraine's economy as a whole and become a reliable support for many sectors of its economy, Yevhenii Abu-Zeid believes.

But there is one "but"!

Without a large infusion of human intelligence, knowledge about planning, organization of work processes, it is impossible to realize any goal, especially in business. Yevhenii Abu-Zeid knows this as well as anyone, as he himself has passed a difficult but interesting career path in an international company.

In the world community, Ukraine occupies a worthy place in terms of its intellectual and ideological potential. One of the brightest representatives of an active group of people who strive to develop their business and take into account the contribution to the state economy is Artur Mkhitaryan, a successful Ukrainian entrepreneur who went from an ordinary advertising manager to a business manager, and then the owner of the Taryan Group company. He has been working in construction since 20 years and creates the most innovative projects that set trends in the real estate market.

Examples of implemented projects prove the effectiveness and prospects of investing in Ukrainian entrepreneurs, as the output turns out to be a competitive and liquid product due to the latest trends in the real estate market.

Thus, Yevhenii Abu-Zeid is confident that today, with a competent approach to the process of stabilization and development of the Ukrainian economy, it can be expected to emerge from the crisis with the least damage. To do this, it is necessary to carry out a number of constructive measures, based on their own experience and taking the experience of others, adjusted for the realities, in order to form support for medium-sized businesses. It is the lifeboat in today's turbulent economy that will take it out into laminar economic waters.