Focus of Day 2: Ukraine’s Natural Resources and Human Resources
January 16, 2024, Davos, Switzerland.
President Zelenskyy spoke on main stage of the World Economic Forum’s Annual Meeting in Davos, calling on governments around the world to recognize that “only our people and your investments can rebuild a resilient economy”. He reminded delegates that Ukraine’s greatest asset is its people, stating, “Our strength is our people, talented, modern and brave”.
In his subsequent visit to Ukraine House Davos, President Zelenskyy met with international supporters as well as numerous Ukrainians representing their country at Davos. His sentiments on Ukraine’s economy and human capital were echoed throughout the day at Ukraine House, where two fascinating panels were held.
The first, moderated by the Financial Times’ US Editor-at-Large, the Economist, Gillian Tett, looked at Ukraine’s wealth of natural resources and their strategic importance to Europe and globally – she noted that the country has one third of Europe’s known rare earth metals and lithium reserves besides its extensive proven gas reserves.
The expert panelists, Interpipe Ukraine LLC Chief Environmental Officer Vladyslav Varnavskiy, Rear Admiral Michael Hewitt, CEO IP3 Corporation, Andre Pienaar Founder and CEO of C5 Capital and Andrei Covatariu, Non Resident Fellow, Middle East Institute, agreed that supporting Ukraine’s victory went beyond defending the future of the international democratic order – after all, its rich natural resources only further affirmed a vital need to protect its sovereignty and territorial integrity.
In particular, Interpipe’s CEO struck a positive note drawn from the company’s work manufacturing steel in Ukraine over decades, arguing that the domestic steel industry now had a vital opportunity to “rebuild itself in a better and greener way”.
Rear Admiral Hewitt summed up the aspiration of the panel that countries should invest substantial resources in Ukraine’s energy industries and infrastructure, memorably declaring “we are very bullish on investing in Ukraine today – because it helps win the war. You win the war by winning the peace. You win the war by demonstrating economic entanglement”.
The second panel, moderated by Svitlana Grytsenko, Member of the Board, Victor Pinchuk Foundation, considered another underreported but important subject – the many women fighting for Ukraine’s victory in the war.
The panel heard from Krystina Waler, Director of Ukrainian Initiatives, Temerty Foundation as well war veteran Liudmila (Malva) Meniuk, Iryna Soloshenko, Manager of Mobile Evacuation at KOLO, combat medic Maria Nazarova and paramedic Yulia (Taira) Paevska.
The audience heard moving accounts of life on the frontline, of the hardship endured and the hopes of the panelists for a peaceful future. Krystina spoke about the Temerty Foundation’s role to “support these women and the thousands of women like them in Ukraine”, encourage everyone in the international community to do the same and “help Ukraine see victory this year”.
Yulia reflected on how the combined efforts of these and other women were “shaping the future’ of the country and Liudmila praised the “huge force” and the wisdom and bravery of those battling on behalf of their fellow Ukrainians.
At WEF, Zelenskyy argued that Russian frozen assets should be “directed toward defense against the Russian war and rebuilding Ukraine”. Stay tuned for our panel tomorrow at 2 pm where we will hear from speakers including Bill Browder about what should be done with such funds.
Ukraine House Davos is organized by Western NIS Enterprise Fund, Victor Pinchuk Foundation and Horizon Capital, and led by Executive Director, Ulyana Khromyak.
The Ukraine House Davos Organizing Committee is comprised of: Jaroslawa Johnson, President and CEO, Western NIS Enterprise Fund; Svitlana Grytsenko, Member of the Board, Victor Pinchuk Foundation; and Lenna Koszarny, Founding Partner and CEO, Horizon Capital.
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