Debate With Ukraine's Senior Government Officials Around the Need for Reform and the Country's Economic Prospects Took Place at the Ukraine Summit

KYIV, Ukraine, March 29, 2011 /PRNewswire/ -- Ukraine Summit, organised by Economist Conferences, took place today in Kyiv. The event brought together senior government leaders and top-level corporate speakers to debate the success of current economic reforms. Irina Akimova, first deputy head, presidential administration and Serhiy Tigipko, vice prime minister addressed the local and international business community.

In her presentation, Mrs. Akimova emphasized that Ukraine's government is pressing on with its reform agenda. She admitted that the dynamics of change don't satisfy government expectations, but she underscored that the reforms are aimed at macroeconomic stabilisation and are moving forward. "We see many problems which have to be addressed immediately, but talking with my heart on my sleeve, I can say that we won't be able to solve them all tomorrow. But we are on the right track, and we'll sort them all out step by step." - said Irina Akimova.

In his speech Mr. Tigipko covered the key steps in Ukraine's short-term economic policy strategy. He touched upon the government's policy in the financial and budget areas, elaborated on social policy issues, and stressed the importance of changes to the banking system. Responding to a question about the obstacles preventing the development of business, he emphasized the need to simplify administration procedures. "Political will must be the driving force of the reforms. We should not be afraid of unpopular measures. If we do them openly and transparently, in constant dialogue with society and business, I am confident they will be a success. Consolidated power is crucial for making the right decisions and for moving forward." - said Serhiy Tigipko.

According to Arkady Ostrovsky, the chairman of the summit and The Economist's senior correspondent in Moscow: "This was an extremely candid discussion about Ukraine's enormous potential as well as its massive structural problems, including corruption, inadequate competition and the need to invest more in its public infrastructure. We hope this discussion will attract the attention of Ukrainian decision makers."

Leaders from multinational corporations revealed how their investment and operating strategies are evolving, sharing new insight into the realities of running a business in today's Ukraine. Delegates were able to hear valuable insights from senior executives of the European Investment Bank, SigmaBleyzer, Siemens, IMF, IFC, Shell, Kyivstar and many others.

CNN was the official broadcaster of the event. Ukraine Summit was sponsored by System Capital Management, Kyivstar Business, Phoenix Capital, PricewaterhouseCoopers, CFC Consulting and Ukraine International Airlines.

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