Odesa, Ukraine, 20 September 2024 – Hundreds of entrepreneurs from the Black Sea region, as well as international experts and investors, gathered at the Odesa Economic Revival Forum in the southern Ukrainian port city to discuss ways to overcome wartime economic challenges and to explore opportunities for local businesses to develop.

The forum was organised with the support of the United Nations Development Programme (UNDP) in Ukraine and the government of Japan.

Odesa, home to thousands of enterprises, is an important industrial centre in Ukraine's Black Sea region. Despite the challenges of the war, the local authorities, with the support of international partners, are working to create a favourable business development climate in the area.

Their efforts have already borne fruit: In 2023 Odesa's entrepreneurs paid 9% more in taxes than in 2022 and 8% more than in 2021 – the year before the full-scale invasion.

The forum is the first business event of such scale organized in Odesa since the escalation of the war. Odesa’s entrepreneurs have proved that, despite frequent missile and drone attacks and prolonged power outages, they can continue to work and grow: Since 2022, at least 5,000 new businesses have been established in the region.

The Ambassador Extraordinary and Plenipotentiary of Japan to Ukraine, Matsuda Kuninori, praised the remarkable resilience of Odesa’s entrepreneurs in the face of the challenges brought by the war, and reaffirmed Japan’s commitment to actively participate in the region’s recovery. 

“The Government of Japan, together with our partners from the United Nations Development Programme, supports the people and businesses of Odesa,” the ambassador said. “We are deeply committed to the economic recovery of the region, as we believe that the revival of Odesa, with its rich cultural heritage and strategic importance, will be crucial for the long-term recovery and development of Ukraine. In October this year, we plan to open a JETRO (Japan External Trade Organization) office in Kyiv to help rejuvenate Ukrainian businesses.”

Senior UNDP Advisor in Ukraine, Rana El-Houjeiri, emphasized that UNDP has been supporting the region's development for many years and recognizes its importance for the recovery of Ukraine's economy. “UNDP is committed to supporting the Black Sea region in its recovery and economic growth,” El-Houjeiri said. “In Odesa, the ‘Made in Ukraine’ initiative, implemented in collaboration with the government of Ukraine, has already helped hundreds of small producers and veterans, contributing to the region's economic revival. In Mykolaiv, we support vocational education to help address the skills gap and prepare the workforce to meet the needs of the growing economy.”

“In addition to economic support, UNDP is actively engaged in infrastructure rehabilitation, civil society development, and the provision of essential services in Odesa, Mykolaiv, and Kherson.”

Background:

The Odesa Economic Revival Forum was organized with the support of UNDP as part of the “Transformational Recovery for Human Security in Ukraine” project, which is being implemented with financial support from the Government of Japan.

Media inquiries:

Yuliia Samus, Head of Communications, UNDP in Ukraine, yuliia.samus@undp.org