“ Ukraine has to build the reputation of the country as a reliable place to do business. ”
Igor Mazepa, Ukraine’s leading investment banker, founded Concorde Capital investment company in 2004 and has since developed it into the leader on Ukraine’s investment market. The company has thrived amid the turbulence in politics and economics, offering a complete range of brokerage and investment banking services. In its 14 years on the market, the company has attracted more than USD 3 bln in foreign investment for Ukrainian firms.
Igor Aleksandrovich Mazepa was born in Kyiv, Ukraine’s capital, where he attended Kyiv National Economic University and earned degrees from in international economics and law.
He began his career in 1997 at Prospects Investments company before becoming Executive Director of Foyil Securities New Europe in 2000. He served as managing director of MFK Investment Bank in 2002.
Igor Mazepa helped found the Ukrainian Exchange, serving as the Head of its Board between 2008 and 2016. He was an independent supervisory board member for Ukreximbank (100% state-owned bank) between August 2014 and July 2016, and an independent board member for Ukrsotsbank (Ukrainian commercial bank) between November 2016 and August 2018.
In 2017-2018 Concorde Capital was a winner in the Finance-Investment Companies category of the Reputation Activists national ranking in Ukraine. Igor Mazepa comments that “The role of reputation in business will remain relevant for as long as investment decisions are made by people and their complex systems of motivation, fear and ambition. It’s important for Ukrainians to gradually build, brick-by-brick, the reputation of the country as a reliable place to do business. This will be achieved with joint efforts between business and government, especially with structural reforms.”
In 2017-2018 Concorde Capital’s analysts have been ranked among the best by the Thomson Reuters Extel Survey which confirmed the high quality of expertise that helps company’s clients to make the right decisions in investing and developing their business.
Igor Mazepa has two major investments projects:
|Goodlife Park elite residence||Goodlife Park elite residence|
Igor Mazepa supports the activity of Price of the State since 2015, a non-government organization that explains key economic issues to the Ukrainian public, while promoting democracy and free markets in Ukraine. One of the latest news of the Price of the State is related to land reform. Igor states that “Land reform in Ukraine will attract long-term strategic investors, proper land management will come, and new credits will be available. Thus, annual GDP could increase 1.5% points. Which is significant for the economy of Ukraine.”
Igor also supports Ukraine’s national rowing team, as well as Kyiv rowing school for juniors.
|Kyiv rowing school for juniors|
Concorde Capital rowing team took 2nd place in the Prince Albert II cup in Monte Carlo (2016).
|Concorde Capital rowing team|
A lifelong athlete, Mazepa enjoying skiing, running, swimming, biking and yachting. He also enjoys helicopter piloting and traveling the world.
|Lofoten, Norway 2017||Yacht regatta. 2016|
The global trend is that the value of money is growing, while the value of resources will fall, more than likely. As an export-oriented country, for Ukraine this less money from exports. Ukraine will accumulate more debt and borrowing will become even more expensive. Whether we want it or not, the economy will have to depend on its own strengths in 2019.
Ukraine has no alternative to cooperating with the IMF now in order to help pay off other debts and finance the budget deficit.
Unfortunately, Ukraine’s politicians have not been the engine driving reforms, but the Western lenders they are beholden to, Mazepa says. Ironically, it’s not the IMF or EU officials offering the loans who most need the reforms, but the Ukrainian people themselves, whose leaders have shown resistance in recent years. Mazepa identified several key sectors in most need of structural reforms, led by the farmland market, pension system, healthcare, and education. Further decentralization is also needed.
Once the government offers an effective, transparent, and simple means for low-income households to gain state aid, the IMF’s natural gas price hikes won’t affect Ukrainians. They will be supported because they create fairness. The middle and upper classes should pay the full price for gas.
Foreign investors are confident that Ukraine is still a country with great investment potential, if not for the obvious geopolitical factors. At the same time, Ukraine posed high risks, even before the armed conflict. Large bureaucratic barriers remain to entering Ukraine. For instance, many markets are dominated by monopolies. So investors will begin coming to Ukraine with structural reforms and lower risks.
We are ready to create one of the first success stories in the new Ukraine’s privatization story. We are ready to conduct this privatization in complete transparency and we have received a mandate from the cabinet to more actively prevent sabotage attempts. We plan to immediately expose any attempts to interfere with the fulfillment of our responsibilities.
The government has fulfilled its annual privatization plan only three times in its history. In two cases, it sold the same enterprise, Kryvorizhstal, in different periods to different owners. The third time was Ukrtelecom. In all other years, it neglected to meet its privatization target.
Medical reform in its current form won’t attract additional financial resources to Ukraine’s healthcare sector. An expanded health insurance industry is needed in order to develop the healthcare sector.
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Copyright © 2018 Igor Mazepa