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Ukrainian Prime Minister Denis Shmyhal talks about rebuilding the national economy at the International House

Ukrainian Prime Minister Denis Shmyhal talks about rebuilding the national economy at the International House

 


Published on Friday, April 19, 2024

In a conversation moderated by Heidi Heitkampf, Director of the Institute of Political Studies, Ukrainian Prime Minister Denis Shmyhal shared his thoughts on what post-war recovery will look like and the importance of innovation in recovery efforts. He talked about the impact of the war on the domestic economy.

The event was co-sponsored by the Polsky Center for Entrepreneurship and Innovation, the Institute of Politics, Chicago Global, and International House and was part of the Prime Minister's major U.S. visit focused on highlighting the importance of U.S. investment. It was conducted. In Ukraine.

Mr. Samir Mayekar gave the opening remarks.

Samir Mayekar, managing director of the Polsky Center, gave opening remarks, noting the strong ties between Ukraine and Chicago, and inviting prominent local citizens, including Governor JB Pritzker and U.S. Special Representative Penny Pritzker. The leaders shared how they are part of the Ukrainian American diaspora. Michael Polsky, who led Ukraine's economic recovery and founded one of the world's most successful renewable energy companies.

Following Maekal's comments, Shmyhal took to the stage to thank the city of Chicago for its support and reiterated the city's ties to Ukraine, noting that the city is home to one of the largest Ukrainian communities in the United States and that Chicago is a sister city. He emphasized that it is a city. Kyiv since 1991.

Today's meeting gave us an opportunity, on behalf of the people of Ukraine, to express our gratitude to the state of Illinois and the city of Chicago for their support during the past 783 days of war, Shmyhal said.

Shmyhal specifically called out Michael Polsky, a Ukrainian-born entrepreneur in the audience and namesake of the Polsky Center, for demonstrating the potential for cooperation between Chicago and Ukraine.

Shmyhal said the center's namesake, Michael Polsky, is a Chicago alumnus with Ukrainian roots, and thanked the Polsky Center for facilitating today's meeting. His journey began in Kiev and he is happy to see with his own eyes the results of innovation in Chicago and Ukraine.

The Prime Minister shared the status of Ukraine's war effort, but his primary focus was on the importance of economic reconstruction.

There is a saying that the military wins battles, but the economy wins wars, Schmihal said.

Shmyhal said the obvious factor for doing so is the provision of security, which the government is primarily focused on, but another is jobs that allow Ukrainians to return home and support themselves and their families. He pointed out that it was the creation of

Dennis Schmihal

When asked what are the key factors that encourage refugees to return, Schmihal said one factor is safety, but another is the work needed to earn money and pay for the things they need.

Shmyhal said Ukraine lost 3.5 million jobs within the first month of the Russian invasion. To replace lost jobs, the government has launched several programs focused on helping entrepreneurs create businesses.

“We are creating new markets and programs that provide grants and funding to support people and create potential for micro, small and medium-sized enterprises,” Schmihal said. During this time, hundreds of companies and startups have been born and innovations have been born.

Michael Polsky, Invenergy's founder and CEO, who welcomed Shmyhal at the company's headquarters earlier in the day, reiterated the importance of rebuilding Ukraine's economy.

Beyond safety and security, the successful reconstruction of Ukraine's economy is a key element for the country's stability and future growth, Polsky said. It's an important endeavor for the Ukrainian-born entrepreneur who has found a second home in Chicago, but it's one that requires hard work and perseverance that both Ukrainians and Chicagoans deeply understand and excel at.

Sources

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2/ https://polsky.uchicago.edu/2024/04/19/prime-minister-denys-shmyhal-discusses-rebuilding-ukraines-economy-at-international-house/

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