Ukrainian Tycoon Valerii Babych On Opportunities And Challenges At Geopolitical Forefront

Geopolitics has shifted seismically - From the final days of the Yanukovich regime amidst the ‘Revolution of Dignity’ in Ukraine, or the dramatic electoral loss of once-Nigerian President Goodluck Jonathan or conversely, the victory of U.S. President Donald Trump; from the forced ouster of Armenia’s President Serzh Sargsyan to the fate of elderly former Zimbabwean President Robert Mugabe. State representatives have shifted, as have policies that have rendered certain countries such as Zimbabwe and Ukraine, though serving in stark contrast of one another, as both once again ‘open for business’.

Although oceans apart and dramatically distinct socio-economies, the countries mentioned have endured severe hardships throughout their respective recent histories, many that have forced change; their peoples are patriotic, resilient, and most have strived to encourage socioeconomic equality and accountability.  However, their politicians have chosen to respond often by rhetoric; building campaigns promising to address chronic issues such as corruption, ‘draining the proverbial swamp’ and making their nations ‘great again’ while domestic and foreign policy agendas have gone largely unchanged.

I recently had the opportunity to catch up with Valerii Babych, a leading Ukrainian businessman, geopolitical expert and former parliamentarian who worked to help Ukraine build a competitive market economy.  Babych, who is advising an African Presidential candidate ahead of a major elections next year, chatted with me about his thoughts on the prospects for lasting prosperity in regions such as his, those with massive potential but those commonly known for challenge.

What are your impressions regarding the state of your country, of Ukraine, some 4 years after the “Revolution of Dignity”?

The world has taken notice of the unbridled commitment of Ukrainians towards self-determination and democracy. I am very proud that patriotic Ukrainians have stood up to fight for the rights of the people to determine their own destiny. This shows that those who are stealing from the Ukrainian people today have made a wrong bet on public apathy at the glaring problem of corruption.

Even 25 years ago, I advocated that society perceived not only the values of democracy and a market economy, but also embarked on the spiritual path of development. Therefore, for me it was important when in 2014 on Maydan, Ukrainians defended such values as honor, dignity and justice. It is immoral anyplace on Earth when corrupt government officials, having entered into an alliance with a criminal element, live in luxury, while millions are forced to survive on only a few dollars a day.

A simple solution to this problem does not exist, and in our case, the Ukrainian people know this. There are many factors that are interrelated and therefore, many problems will have to be solved simultaneously. It is necessary to overcome corruption, which is supported, in particular, by the disrespect of officials to rule of law and the absence of inevitability of punishment for unlawful actions. We need to stabilize economies such as ours, attract investment, and make job creation a basic element of the social and economic system. Finally, we need a commitment to democracy and freedom, not in words but in deeds; we need fair elections and proper mechanisms that allow citizens to hold their governments accountable.

Addressing inequality is clearly an issue of passion for you.  What do you think can be done in an era of unprecedented transparency for leaders around the world to achieve social progression on a global scale?

Leaders must ensure economic potential is unlocked and focus on the development of the younger generation. This means that it is necessary to pay special attention not only to carrying out the innovative industrialization of developing economies and creating new jobs, but also to improve the quality of education and crafting a responsible system of social protections.

In addition, authorities must be accountable for their actions and this means ensuring freedom of the press; independent editorial policies. I am a supporter of the government, which would be active in civil society, its ally and partner, not an adversary or a slanderer.

Another important point is new leadership. In order to get the necessary impetus for social progress, certain states need a new political elite. Countries need new leadership who will help social movements form into strong, responsible and reform-oriented political forces.

This brings us to our final question - What would be your vision to propel Ukrainian growth and development, in particular – A message you would convey to our readers, in Ukraine and around the world?

As I have stated before, corruption is a significant issue that impedes progress in Ukraine and in many States.   We must change the political norms from within, which today allow laws to be manipulated and power to be leveraged as an instrument for enrichment, furthering what I refer to as ‘oligarchization’ in my country.

My dream would be a Ukraine where oligarchs and clans are no longer controlling the State. The key business challenge that the country is facing to right this remains the creation of a functioning court system to combat festering corruption. In the short-term, this means establishing an effective anti-corruption court while the broader judiciary can and should be completely reformed.

I also believe we must eliminate the duality of the Executive branch. The Head of State in Ukraine should head the government, as would be customary in the United States, the United Kingdom or South Africa.

Mfonobong Nsehe (Forbes.com)