PM calls on investors and business leaders to join the fight for Ukraine
Ukraine’s recovery must be accelerated through rapid investment and innovation, the Prime Minister will tell a major global summit this week.
- Ukraine’s economic recovery is just as important as its military strategy, the Prime Minister is set to say this week as he calls on global investors and British businesses to step up their backing for Ukraine by embracing rapid innovation to rebuild the country
- He will tell the Ukraine Recovery Conference summit on Wednesday that innovation must be embraced to accelerate Ukraine’s economic recovery, mirroring the success of innovation on the battlefield
- World leaders, business chief executives, investors and NGOs expected to travel to London for the summit, underlining the international unity and backing for Ukraine’s long-term reconstruction
Ukraine’s recovery must be accelerated through rapid investment and innovation, the Prime Minister will tell a major global summit this week, as he calls on investors and businesses to back the country for the long term.
The Prime Minister will tell the conference that the financial fight to ensure Ukraine is able to rebuild and recover is its own form of counteroffensive against Russia.
His call comes as the UK prepares to launch a number of rapidly deployable, agile digital tools as part of the Ukraine Recovery Conference this week to help the country quickly harness overseas investment.
More than 1000 foreign dignitaries from 61 states, NGO representatives and hundreds of business leaders and entrepreneurs are expected to travel to London for the event, with the Prime Minister opening the conference alongside Ukrainian President Volodymyr Zelenskyy, who will attend virtually.
Both European Commission President Ursula Von der Leyen and US Secretary of State Antony Blinken are also expected to speak in the opening session of the conference on Wednesday.
The two-day summit will be the largest international conference the UK hosts this year.
Prime Minister Rishi Sunak is expected to say:
Ukraine’s bravery on the battlefield must be matched by the vision of the private sector to help the country rebuild and recover. Time and time again, Ukraine has shown its ability to rapidly harness innovation and creativity, and I know its recovery will be no different.
The illegal invasion of Ukraine has devastated businesses and livelihoods throughout the country, but it has not destroyed the ingenuity or determination of the Ukrainian people.
A financially stronger, technologically advanced Ukraine will bolster its ability to drive Russia back behind its borders and build a brighter future for a sovereign and modern Ukraine of the future.
Innovation will be a key them at this week’s conference, with Ukraine becoming a major player in the global IT industry prior to the invasion. The rapidly expanding sector also supported more than 300,000 jobs across the country.
Many people working in the industry have now sharpened their skills on the battlefield, turning their hands to building new apps and modifying weapons software in their retaliation against invading Russian forces.
Some of the innovative tools expected to be announced at the summit will include a digital platform that will connect Ukrainian businesses with global companies, enabling virtual networking and driving collaboration on everything from supply chain issues to business expansion.
The matchmaking platform will support reconstruction and recovery through the creation sustainable and long-lasting commercial relationships, all at the touch of a button.
Concurrently, a new UK-Ukraine TechBridge will be launched by Business and Trade Minister Nusrat Ghani in London on Tuesday evening in partnership with the Government of Ukraine.
The initiative was first proposed ahead of the full-scale invasion of Ukraine but has gained momentum in recent months as it became clear it could provide vital opportunities to businesses trying to rebuild and grow in Ukraine.
The TechBridge will be established as a physical space to bring together the UK and Ukrainian innovators, entrepreneurs and the technology and financing industries to foster greater collaboration to drive forward recovery and reconstruction. The centre will also offer training, upskilling and business support across the tech sector.
As part of the push on innovation, the UK will also launch a £10 million InnovateUkraine Green Energy Challenge Fund at the summit.
The fund will spark and accelerate the development of low-carbon, affordable energy projects for Ukraine, with researchers, businesses and NGOs able to apply for financial backing to make their green energy ideas a reality, with the hope of being able to roll out some of the projects to communities in Ukraine routinely facing blackouts and energy shortages.