ONE FAMILY’s “BUSINESS” IN UKRAINE

By David Stephan, UKRAINEBUSINESS2014

In most of the world family business means orderly multigenerational creation of economic value, In Ukraine over the last four years «Family Business» meant something completely different, as it came to be identified with the total and complete usurpation of power, corruption and unjust enrichment.

Viktor Yanukovich could have single-handedly altered the course of Ukraine’s economic development. Such chances are very rare and are only accorded to lucky few.

It so happened, that after the Orange Revolution of 2004, the country, although slowly, was inching forward. Thus it was not difficult for Mr. Yanukovich to win the election of 2010 against the leaders of the Orange revolution who by 2010 were absorbed in their own infighting. All the future president had to do was to assure stable and predictable environment to the country’s business interests, as well as prospective foreign investors, and promise increase in living standards to the majority of the population. READ MORE