Aivaras Abromavičius

Aivaras Abromavičius (Ukrainian: Айварас Абромавичус, born 21 January 1976) is a Lithuanian-born Ukrainian investment banker and politician. He was Ukraine's Minister of Economy and Trade starting in December 2014 (Abromavičius announced his resignation on 3 February 2016). He did not retain his post in the Groysman Government that was installed in 14 April 2016.[3] Abromavičius was Director General of Ukroboronprom, Ukraine's biggest defense industry company, from 31 August 2019 until 6 October 2020.[1][2]

Aivaras Abromavičius
Director General of Ukroboronprom
In office
31 August 2019 – 6 October 2020
Preceded byPavlo Bukin[1]
Succeeded byIhor Fomenko[2]
5th Minister of Economical Development and Trade
In office
2 December 2014 – 14 April 2016
Prime MinisterArseniy Yatsenyuk
Preceded byPavlo Sheremeta
Succeeded byStepan Kubiv
Personal details
Born (1976-01-21) 21 January 1976
Vilnius, Lithuanian SSR, USSR
Alma materConcordia International University Estonia
Concordia University Wisconsin
PhD in Economics and Trade from Wisconsin International University in Ukraine

Biography

Abromavičius was born in Lithuania, but lived in Estonia, Sweden, USA and Russia for many years. He was educated in Lithuania later obtaining a BA in international business from Concordia International University Estonia and Concordia University Wisconsin.[4] He started his career in finance in 1996 at Hansabank (Swedbank). During 2002–2014, he co-owned and was at the core of building a Stockholm-based investment company East Capital, one of the largest and most reputable Investment companies from Western Europe investing in Eastern Europe.

In 2004 Abromavičius married a Ukrainian woman from Donetsk[5][6] and in 2008 they settled in Kyiv where their three children were born.[6][7]

After the 2014 Ukrainian revolution Abromavičius, a Lithuanian citizen, was asked to serve as Minister of Economic Development and Trade of Ukraine. Ukrainian President Petro Poroshenko granted citizenship to Abromavičius, Natalie Jaresko and Alexander Kvitashvili on 2 December 2014 to allow them to serve as ministers in the Second Yatsenyuk Government.[8][9] Abromavičius speaks Ukrainian,[10] Lithuanian, English and Russian.[4]

Over 1,5 years, he built and managed the strongest and reform-minded team in the entire government. Under his leadership a completely new Electronic Public Procurement System Prozorro was launched, which received multiple international awards and recognition and saved billions of Hryvnia's to Ukrainian tax payers. He also kick started a major State Owned Enterprise reform that included totally new CEO selection process and helped form a new and first truly independent Board of Directors at Naftogaz. He also helped start a Better Regulation Delivery Office with substantial EU funding to improve business climate in Ukraine.

On 3 February 2016, Abromavičius announced his resignation, he claimed that the key reason was a conflict with Ihor Kononenko, who was the deputy head of the Bloc of Petro Poroshenko parliamentary faction.[11] According to Abromavičius Kononenko was trying to install a new deputy in the economy ministry to further his own interests.[12] On the same day, Kononenko stated he was ready to give up his parliamentary mandate should his faction would ask him to do so.[13] Abromavičius also stated that Ukrainian politicians insisted that he appointed at state companies people he did not want to and resisted the economic reforms. He also mentioned that corruption in Ukraine was too strong, and he was not willing to serve cover for corruption.[14] Nine Western ambassadors signed a statement (published on the official website of the Embassy of Sweden) on 3 February 2016 that stated they were "deeply disappointed by the resignation" because Abromavičius delivered real reform results for Ukraine.[15] He was finally relieved from his post when the Groysman Government was installed in 14 April 2016.[3]

In 2019 Abromavičius returned to the political arena of Ukraine, when he set up meetings for presidential candidate Volodymyr Zelensky.[16] On June 12, 2019, President Zelensky appointed Abromavičius to serve as a Member of the Supervisory Board at Ukroboronprom.[17] On 31 August 2019 Presidents Zelensky appointed Abromavičius as the Director General of Ukroboronprom.[1] He was dismissed from this post (at his own request[18]) by a decree of Presidents Zelensky on 6 October 2020.[2]

Currently Aivaras holds positions of Chairman of the Board at Ukrainian Corporate Governance Academy, Founding Member at Global Blockchain Business Council, Chairman of the Board Riverside Development (Riga), Member of the Board in SUP (Ukrainian Entrepreneurs' Union).

Abromavičius is a proponent of austerity, advocating "radical spending cuts"[10] as well as deregulation and privatisation.[10][19]

References
  1. President appoints Aivaras Abromavicius as Director General of Ukroboronprom, Ukrinform (31 August 2019)
  2. Ukroboronprom CEO Aivaras Abromaviсius fired, UNIAN (6 October 2020)
    (in Ukrainian) In "Ukroboronprom" told why Abromavicius resigned and what will happen to his team, Ukrayinska Pravda (6 October 2020)
  3. New Cabinet formed in Ukraine, UNIAN (14 April 2016)
  4. Aivaras Abromavicius profile - East Capital Management, retrieved 28 Jan 2015
  5. Jokūbaitis, Marius (4 December 2014). "Pilietybės netenkantis lietuvis: "Ukrainai manęs reikia labiau"" [On losing his Lithuanian citizenship: "I'm needed more in Ukraine"]. Lietuvos rytas (in Lithuanian). Archived from the original on 10 December 2014. Retrieved 15 December 2014.
  6. Bonner, Brian; Verstyuk, Ivan (15 December 2014). "New economy minister stands for austerity, deregulation, privatization". Kyiv Post.
  7. Bigg, Claire (3 December 2014). "Who Are Ukraine's New Foreign-Born Ministers?". RFERL.
  8. "Poroshenko orders to grant citizenship to Jaresko, Kvitashvili and Abromavicius". Interfax-Ukraine. 2 December 2014.
  9. "Foreign technocrats given Ukrainian citizenship before cabinet vote". Reuters. 2 December 2014.
  10. Can This Man Save Ukraine's Economy? - Bloomberg, 5 January 2015
  11. Ukraine Economy Minister decides to resign, UNIAN (3 February 2016)
  12. REFORMING UKRAINE AFTER THE REVOLUTIONS, The New Yorker (5 September 2016 issue)
  13. Kononenko says ready to let go of his mandate, UNIAN (3 February 2016)
  14. Choursina, Kateryna (3 February 2015). "Ukrainian Economy Minister Quits as Cracks in Government Widen". Bloomberg Business. Retrieved 3 February 2016.
  15. Western envoys react harshly to Abromavicius resignation, UNIAN (3 February 2016)
    Pyatt says Abromavicius "one of great champions of reform", UNIAN (3 February 2016)
  16. "Aivaras Abromavičius: Lietuvos rinkimų sumos ukrainiečiams sukeltų juoką". lrt.lt (in Lithuanian). 4 March 2019. Retrieved 31 August 2019.
  17. "Zelensky appoints Abromavičius as member of Ukroboronprom observatory council". 112.international. 12 June 2019.
  18. (in Ukrainian) Abromavicius on his release: It was an expected plan from the beginning, Ukrayinska Pravda (7 October 2020)
  19. New economy minister stands for austerity, deregulation, privatization - Kyiv Post, Dec 15 2014
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