Last night my wife and I visited the opening of the Damien Hirst Exhibition at the famous Pinchuk Art Centre in Kyiv. The usual VIP guests were in attendance, including Pinchuk and many of the so called famous Ukrainians and we met many expats who had been invited.
This is the first time we have seen any of Hirsts 'material' in Ukraine. Fellow brits are only too aware of the reputation that Damian Hirst has established. On display were the usual 'Shark in Formaldehyde', followed by 'sheep',etc etc. The stunning slaughter of the cow exhibit is also there, plus a seperate cows head, with blood and flies etc. Most of the exhibit is concerned with SKULLS, ASH TRAYS and lemons............ Even a collection of Cigarete Butts, a collection of tablets and a display which looked like a display cabinet from Boots the Chemists???
Many Ukrainains were just trying to keep a straight face I am sure!!! I had to pose the question to most of my fellow expats I met at the exhibition: "So what do you think?"The answers ranged from " Interesting" (That sly British diplomatic way of saying it was not so good) to
"No comment" and even "Maybe I am missing something". But I had to remind my friends that Damien Hirst made USD 198 MILLION last year from the sale of a complete collection at Sothebys. (Plus he has made other sums) but this was a record by an artist in one sale.
So, what is it about his 'works'? Why do people pay vast amounts for his work. If as I suspect, the main intention is to SHOCK and cause comment and wide spread discussion, you have to take your hat off to him. BUT IS IT ART? What is ART??
Finally, as usual, my dear wife summed up our visit very nicely:"Its all garbage...just garbage.....lets leave and go for something to eat". So we did.
But a visit to the exhibition is recommended.
25 April 2009
11 April 2009
Ukraine Property Market
Yesterday, I gave a short presentation at the Ukraine Real Estate Club meeting in Kyiv.
I was asked to talk about the attractiveness of the Ukraine market for foreign investors and also the problems they face.
The main attractiveness of Ukraine right now (mostly Kyiv) is that investors can purchase an income producing asset at a greatly reduced price!!!!
However, the large investment groups are staying away from Ukraine and it will be a LONG time before they return. The people we are meeting now are opportunists (and why not) who are looking to see what they can pick up in a market that is getting hungry for business.
I think the prices from the boom years will NOT return in Kyiv and we are going to see more realistic property prices.
The next BBCU meeting in Kyiv will also look at the current situation in the property market and it will be a round table event.
I was asked to talk about the attractiveness of the Ukraine market for foreign investors and also the problems they face.
The main attractiveness of Ukraine right now (mostly Kyiv) is that investors can purchase an income producing asset at a greatly reduced price!!!!
However, the large investment groups are staying away from Ukraine and it will be a LONG time before they return. The people we are meeting now are opportunists (and why not) who are looking to see what they can pick up in a market that is getting hungry for business.
I think the prices from the boom years will NOT return in Kyiv and we are going to see more realistic property prices.
The next BBCU meeting in Kyiv will also look at the current situation in the property market and it will be a round table event.
10 April 2009
Financial Crisis in the UK and Ukraine
This week on 7th April we held another joint meeting with the British Ukrainian Society here in Kyiv. 88 people attended to listen to our guest speakers - Richard Spring MP (Vice Chairman of the Conservative Party) and Igor Mitiukov (Managing Director of Morgan Stanley in Ukraine and previously Ukraine Ambassador to the UK). My personal thanks to Richard and Igor.
Many of our members informed me later that this was one of the best meetings we have had this year.
The outlook for the remainder of 2009 is gloomy in both of the above mentioned economies.Interesting and thought provoking how SO MANY people now work for the government, both national and local in the UK. The salaries of the CEO's of many local authorities outways those of senior managers in large private sector companies.
In Ukraine we have the dual problem of economic 'mess' and political instability.
Ukraine does not have the social support infrastructure as in a developed economy.
I could go so far as to say that 'Capitalism' is supreme in Ukraine and we have more socialism in the UK!!!
We will see what is happening in the property market in our next meeting on 29th April.
Many of our members informed me later that this was one of the best meetings we have had this year.
The outlook for the remainder of 2009 is gloomy in both of the above mentioned economies.Interesting and thought provoking how SO MANY people now work for the government, both national and local in the UK. The salaries of the CEO's of many local authorities outways those of senior managers in large private sector companies.
In Ukraine we have the dual problem of economic 'mess' and political instability.
Ukraine does not have the social support infrastructure as in a developed economy.
I could go so far as to say that 'Capitalism' is supreme in Ukraine and we have more socialism in the UK!!!
We will see what is happening in the property market in our next meeting on 29th April.
28 March 2009
Legal System in Ukraine
I am often asked by business visitors if I can recommend a 'good' law firm that they can use in Ukraine. The BBCU has many law firms who are reliable and I have no problem in making introductions.
There is an interesting article this week in the Kyiv Post written by a young lawyer - Warwick McDonald from Salans law firm. "Establishing confidence in Judiciary will be a key barometer".
The BBCU is involved in a project with the EU-Ukraine Business Council - 'The Rule of Law in Ukraine". If the project moves forward, and I am sure it will, it will require a tremendous amount of work in helping Ukraine to improve how judges are trained, selected and monitored etc.
The former Lord Mayor of London, Sir Gavin Arthur gave an excellent speech back in February at the British-Ukraine Law Society meeting about how the lack of 'the rule of law' is holding back investment into Ukraine. See: http://bula.org.uk/20090205.htm
The EU is funding a project to also help increase the legal system in Ukraine. The project has a budget of Euro 6m. See: http://www.jp.coe.int/CEAD/JP/Default.asp?TransID=146
However, most expats here use a popular phrase to answer just about every problem. "This is Ukraine". Lets be honest, we all know its going to be a huge mountain to climb when it comes to tackling the problem of corruption in the legal system in Ukraine. Judges are poorly paid and 'financial incentives' are still very much a part of life in this part of the former soviet union. Moreover, judges are still used to the system of poltical interference in cases (Is there any other way they may think?).
If western politicians/lawyers/investors are expecting the system in Ukraine to change quickly, they are wrong. (I wish I could say otherwise). I think the system will only change when work begins at university level and later the training of lawyers and judges. Judges in Ukraine are NOT like judges in the EU or indeed the UK. Many of the judges here are not even trained as lawyers. Some of them are former policemen or civil servants.
If western investors are waiting for the legal system in Ukraine to change, they will be waiting a long time. It therefore follows that those investors who are prepared to 'take the chance', will probably succeed and learn how the system works in Ukraine.
On the positive side, things are changing because most of the leading western law firms have established an office in Kyiv. For investors, the process of due dilligence in Ukraine can take a long time and be frustrating. But there are no 100% guarantees.
This is Ukraine.
There is an interesting article this week in the Kyiv Post written by a young lawyer - Warwick McDonald from Salans law firm. "Establishing confidence in Judiciary will be a key barometer".
The BBCU is involved in a project with the EU-Ukraine Business Council - 'The Rule of Law in Ukraine". If the project moves forward, and I am sure it will, it will require a tremendous amount of work in helping Ukraine to improve how judges are trained, selected and monitored etc.
The former Lord Mayor of London, Sir Gavin Arthur gave an excellent speech back in February at the British-Ukraine Law Society meeting about how the lack of 'the rule of law' is holding back investment into Ukraine. See: http://bula.org.uk/20090205.htm
The EU is funding a project to also help increase the legal system in Ukraine. The project has a budget of Euro 6m. See: http://www.jp.coe.int/CEAD/JP/Default.asp?TransID=146
However, most expats here use a popular phrase to answer just about every problem. "This is Ukraine". Lets be honest, we all know its going to be a huge mountain to climb when it comes to tackling the problem of corruption in the legal system in Ukraine. Judges are poorly paid and 'financial incentives' are still very much a part of life in this part of the former soviet union. Moreover, judges are still used to the system of poltical interference in cases (Is there any other way they may think?).
If western politicians/lawyers/investors are expecting the system in Ukraine to change quickly, they are wrong. (I wish I could say otherwise). I think the system will only change when work begins at university level and later the training of lawyers and judges. Judges in Ukraine are NOT like judges in the EU or indeed the UK. Many of the judges here are not even trained as lawyers. Some of them are former policemen or civil servants.
If western investors are waiting for the legal system in Ukraine to change, they will be waiting a long time. It therefore follows that those investors who are prepared to 'take the chance', will probably succeed and learn how the system works in Ukraine.
On the positive side, things are changing because most of the leading western law firms have established an office in Kyiv. For investors, the process of due dilligence in Ukraine can take a long time and be frustrating. But there are no 100% guarantees.
This is Ukraine.
27 March 2009
The British - How to do Business with them
Our March networking meeting 'The British- How to do Business with them was another success.
With more than 90 people attending our 'standing only' meeting was a bit more social than usual and our members and guests told me they liked it.
Our speakers were: Derek Mansfield - President of Bold Endeavours, who gave a super presentation on the ENGLISH. I think this was one of the best short presentations I have seen from one of our members.
Alex Frishberg - Managing Partner, Frishberg & Partners shared some of his experiences of working with British expats in Kyiv from the early days.
Olga Revina - Management Consultant described her experiences of the different understandings between British and Ukrainian people. (Sometimes we Brits are not serious enough)
Jim Hydzik - Editor & Writer, talked about his work with London based media owners and how it pays off to be 'polite' when dealing with the British.
Our own Tony Wood, then gaves us his personal opinion on the future of how the British are going to do business in the UK. He tolds us about his THREE P's -Purpose, People, Partnership approach to doing business.
This month we had a few more members join the BBCU but we still need many more and a lot more effort is being placed on this. I am sure the Radisson Hotel were happy to get our business again, but its getting more expensive. I just hope the new web site is ready for launching early next month.
Our next meeting will be very soon - Tuesday 7th April and will be a joint meeting with the British Ukrainian Society.
With more than 90 people attending our 'standing only' meeting was a bit more social than usual and our members and guests told me they liked it.
Our speakers were: Derek Mansfield - President of Bold Endeavours, who gave a super presentation on the ENGLISH. I think this was one of the best short presentations I have seen from one of our members.
Alex Frishberg - Managing Partner, Frishberg & Partners shared some of his experiences of working with British expats in Kyiv from the early days.
Olga Revina - Management Consultant described her experiences of the different understandings between British and Ukrainian people. (Sometimes we Brits are not serious enough)
Jim Hydzik - Editor & Writer, talked about his work with London based media owners and how it pays off to be 'polite' when dealing with the British.
Our own Tony Wood, then gaves us his personal opinion on the future of how the British are going to do business in the UK. He tolds us about his THREE P's -Purpose, People, Partnership approach to doing business.
This month we had a few more members join the BBCU but we still need many more and a lot more effort is being placed on this. I am sure the Radisson Hotel were happy to get our business again, but its getting more expensive. I just hope the new web site is ready for launching early next month.
Our next meeting will be very soon - Tuesday 7th April and will be a joint meeting with the British Ukrainian Society.
12 March 2009
The British - How to do business with them?
The global financial crisis continues to create new and everyday challenges for the government in Ukraine. The big question is 'Will Ukraine default"?
There are many western banks that cannot afford for Ukraine to default. Sometimes it appears that external interests are more concerned about the situation in Ukraine, than the leadership in Ukraine.
The crisis has really caught up with Ukraine and many businesses are in trouble. Many people have lost their jobs. The frustrating bit, is that the countrys leaders still appear to be more interested in fighting each other than with finding solutions to economic problems.
We will see what unfolds in the next few days.
How ever bad things are, we must always try to be positive and think towards the future with fresh hope. (Even if we cannot get our money out of the bank). Business will continue for those who can manage and implement a survival plan. We all know that in times of hardship, there will always be opportunities for some. So, the next BBCU meeting will be about how to do business with the British. We have some interesting speakers lined up to share their views on this subject.
If you can make it we hope to see you there: Thursday 26 March 2009 - Radisson SAS Hotel, Kyiv - 1900
There are many western banks that cannot afford for Ukraine to default. Sometimes it appears that external interests are more concerned about the situation in Ukraine, than the leadership in Ukraine.
The crisis has really caught up with Ukraine and many businesses are in trouble. Many people have lost their jobs. The frustrating bit, is that the countrys leaders still appear to be more interested in fighting each other than with finding solutions to economic problems.
We will see what unfolds in the next few days.
How ever bad things are, we must always try to be positive and think towards the future with fresh hope. (Even if we cannot get our money out of the bank). Business will continue for those who can manage and implement a survival plan. We all know that in times of hardship, there will always be opportunities for some. So, the next BBCU meeting will be about how to do business with the British. We have some interesting speakers lined up to share their views on this subject.
If you can make it we hope to see you there: Thursday 26 March 2009 - Radisson SAS Hotel, Kyiv - 1900
27 February 2009
Three Way Meeting a great success
Our February meeting last night was another great success. Over 100 people attended our joint BBCU, BUS & EU-Ukraine Business Council meeting - The Rule of Law in Ukraine.
Our two main guest speakers were John Grogan MP (Member for Selby) and Sir Brian Neill.
John inspired people with a positive speech about the relationships between the UK and Ukraine, but reminded everyone that the 2012 Euro football events must be a success, or it will prove a disappointment for Ukraines image abroad.
Sir Brian Neill gave an outstanding presentation on the findings from his first visit last year along with Sir Henry Brooke. He gave an interested account of where Ukraine currently stands in legal process terms. (Copies of the report were made available at the meeting in both English and Ukrainian). I must say I admire him the way he just stands up and without any notes and remembers names and places and dates and gives an accurate account of things. He is a very professional man and a fine example of a former senior British judge. They dont make them like him anymore. He makes me proud to be British.
Many people from the audience shared my views also and came to express how impressed they were. One young woman asked me why we dont form a road show and tour around the country inspring young people inlaw schools and universities. A great idea, but a full time job also.
So, another successful event and many people stayed on later as usual to 'celebrate'.
I would like to thank James Wilson of the EU-Ukraine Business Council and Vera Kravchanko from the British Ukrainian Society for helping to organis this three way event.
Our two main guest speakers were John Grogan MP (Member for Selby) and Sir Brian Neill.
John inspired people with a positive speech about the relationships between the UK and Ukraine, but reminded everyone that the 2012 Euro football events must be a success, or it will prove a disappointment for Ukraines image abroad.
Sir Brian Neill gave an outstanding presentation on the findings from his first visit last year along with Sir Henry Brooke. He gave an interested account of where Ukraine currently stands in legal process terms. (Copies of the report were made available at the meeting in both English and Ukrainian). I must say I admire him the way he just stands up and without any notes and remembers names and places and dates and gives an accurate account of things. He is a very professional man and a fine example of a former senior British judge. They dont make them like him anymore. He makes me proud to be British.
Many people from the audience shared my views also and came to express how impressed they were. One young woman asked me why we dont form a road show and tour around the country inspring young people inlaw schools and universities. A great idea, but a full time job also.
So, another successful event and many people stayed on later as usual to 'celebrate'.
I would like to thank James Wilson of the EU-Ukraine Business Council and Vera Kravchanko from the British Ukrainian Society for helping to organis this three way event.
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