That was the clear message at Friday’s seminar hosted in bauma by CECE and FIEC on the reconstruction of Ukraine. Speakers and participants agreed that rebuilding needs to start now.
Foreign state investments will not be enough, additional private investments will be needed. The Consul of Ukraine to Germany, Dmytro Shevchenko, pointed out that real estate investors showed strong interest and willingness at this year’s Expo Real in Munich. Capable Ukrainian human capital is and will be available, but financial resources and raw materials may be more difficult to obtain. He concluded that construction machinery is needed to remove rubble and debris from cities before rebuilding.
With a 42% expected contraction of Ukraine’s GDP in 2022, the economy could rebound by 12% in 2023, explained Scott Hazelton, Director at S&P Global Market Intelligence. Rebuilding costs range from US$ 349 billion according to the World Bank to US$ 540 billion according to the Centre for Economic Policy Research. Hazelton pointed out the necessity for professional financial management of the reconstruction process.
Katharina Knapton-Vierlich, Head of Unit, DG Grow from the EU Commission called for a new Marshall Plan that would also meet the European green ambitions. Integrating Ukraine into the wider European family while rebuilding the country with care and foresight is the key, she said. She also highlighted that pollutants such as asbestos will come to light from the destroyed infrastructure and buildings. She emphasised that the Ukrainian human capital could be relied on and refugees want to go back to their country as soon as possible. “They want to go home to a place that is worth living”, she made clear.
FIEC Honorary president Kjetil Tonning reported that a special Task Force has been constituted at European level. It involves the Confederation of Builders of Ukraine, FIEC’s member organisation, but also all the industry associations that are willing to contribute, such as CECE. FIEC sees this task force as coordinator of the reconstruction process to avoid duplication and mismanagement. He emphasised that all FIEC member organisations have clearly expressed their willingness to support the activities, which initially will start with training of Ukrainian staff in Western Europe.
Concluding the event, CECE Secretary General Riccardo Viaggi informed the participants of an ongoing call to donate power generator sets to communities in Ukraine. CECE member companies and any other private entity is invited to get in touch with the CECE office to know more about the technical specifications and how to take part in this helping eff
