Labour Migration Poses Biggest Challenge for Future Government, — Bakhmatyuk

According to various data, due to labour migration, 2 to 5 million people work outside the country, "Obozrevatel" reports. The topic of labour migration became a separate subject of discussion for representatives of big business, financial sector, politicians, and representatives of international organisations at the International Investment Conference Game of Thrones: Final Season, which was held by Concorde Capital investment company.

The Ukrlandfarming Group, which according to various ratings is considered one of the most attractive employers in Ukraine, is concerned about the mass outflow of Ukrainian workforce abroad, which is impossible for Ukrainian businesses to stop on their own, without a reasonable government policy in this area.

Oleg Bakhmatyuk, the owner of an agroindustrial company that employs some 30,000 people and generates 1% of Ukraine's GDP, believes that the geopolitical situation opens up new opportunities for economic growth in Ukraine, but it will be extremely difficult to stop labour migration without a government policy of protectionism for Ukrainian business. "There is a huge cancerous disease called labour migration. The conflict or rather dispute between China and the United States opens up huge opportunities for Ukraine. First of all, in our industry - agriculture. Ukraine is one of the few countries that can do this. I agree that it is impossible to remove politics completely from macro planning. It is foreign markets, it is domestic protectionism, it is an economic vision that will stop migration. This is the biggest challenge for the future government, for businesses, these things have to become not just political tools, they have to have an economic basis. The rhetoric has to change. And when the head of the National Bank of Poland speaks and says that "My first task, hypothetically, is to buy another million Ukrainians — we raise the minimum wage, which will be paid to Ukrainians working in Poland", our governor of the National Bank speaks and says "We will raise the policy rate to infinity". We have created a unique kingdom that lives by its own rules," Oleg Bakhmatyuk said.

According to the Ukrainian businessman, Ukraine has all the prerequisites for economic growth. But this requires an inflow of investments and clear messages from the authorities: "Ukraine does not need that much — 5-10b of additional flow of "flexible" money, which will be used for capital investments. Moreover, there are unique things for this: we’ve got the infrastructure, there is an educated workforce and a unique geographical position. And the agricultural sector, which is now turning from an economic sector into a political one. In the civilised world, resources are turned into opportunities, into growth and into prospects for the nation. We need to stop this constant dying. Everyone wants to believe — businesses, government, and ordinary people, in new things that give hope".

Ukrlandfarming is the largest agricultural group in Ukraine by land holdings and one of the largest taxpayers. In total, the group employs some 30,000 people in 600 communities across Ukraine. In under two years, the average wage of our employees has increased 90%, and the total wage bill is nearly UAH 3 billion per year.