Arricano took part in the II Forum on Business Protection
Svitlana Renkas, the Head of the Legal Department (residents) of Arricano Real Estate Plc, took part in the II Forum on Business Protection, which was held on April 5, 2017. This is the second consecutive year, when the timelines of the business protection topic are gathering about 250 participants, including representatives of government, business, legal and media spheres. This year the attention of the participants of the II Forum, accredited by the National Lawyers Association of Ukraine and organized by the Juridical Practice newspaper, was focused both on global topics and on private examples that were examined on discussion panels and master classes.
The discussion panel Business-Tomorrow: When the Global Warming of Ukrainian Business Climate Will Come, which opened the Forum, was about the factors that affect the investment attractiveness of Ukraine, the steps that a business can take to attract a foreign investor, the signs of credit recovery in Ukraine, on effective measures of illegal seizures counteracting, on judicial reform and on the conditions that are necessary for investing in the Ukrainian economy.
The panel was attended by Ruslan Demchak, the Deputy Chairman of the Verkhovna Rada Committee on Financial Policy and Banking; Oleksii Malovatskyi, the Member of the High Council of Justice; Anatolii Kinakh, the President of the Ukrainian Union of Industrialists and Entrepreneurs; Svitlana Renkas, the Head of the Legal Department (residents) of Arricano Real Estate Plc; Igor Gotsyk, the Manager of the Committees of the European Business Association; Nataliia Ulyanova, the Managing Partner of ICF Legal Service; Stanislav Skrypnyk, the Executive Partner of Lavrynovych & Partners Law Firm.
Among the factors that positively affect the investment climate, the speakers noted the restoration of crediting, including the envisaged crediting rates reduction for small and medium-sized businesses and the resumption of mortgage crediting; the systemic steps to overcome corruption; the changes in the judicial system, noting that targeted steps in judicial reform can contribute to improving the investment climate in the country.
Anatoly Kinakh drew attention to the fact that despite some political instability, investors are ready to actively come in, but they want guarantees from the state related to private capital, they expect investors' rights protection, and especially the rule of law: «Private capital needs stable Rules of the game and a high level of investment protection, guarantees for the protection of the owners right», - said the President of the Ukrainian Union of Industrialists and Entrepreneurs. The speaker noted that today in Ukraine there are no systematic programs and development strategies for our state and economy.
Svitlana Renkas has noted three factors that a foreign investor pays attention to: the profitability of business in Ukraine, the rules for getting out of business and the return on investment and the rule of law. Ms. Renkas has given the example of Arricano as a case of a foreign investor's business in Ukraine, its expectations and difficulties: «Arricano is a public company. We are engaged in retail, construct and manage shopping malls. This is a profitable business, so it is interesting for an investor to invest in the industry. Regarding the rule of law, unfortunately, in practice, the rule of law is not being realized. There has been a dispute with a partner in the case of Sky Mall, which lasts for 7 years. The investor cannot understand why he does not receive income from the invested $180 million. Any investor coming to the Ukrainian market should understand whether its investment is protected and how it can be protected». Svetlana noted that she believes in the rule of law and reforms, when the judiciary, legislative and executive authorities will work in tandem, which will enable investors to invest in Ukraine, realizing that the rule of law is ensured in this country.