On June 24, 2024, the consulting firm Qunie Corporation (headquartered in Chiyoda-ku, hereinafter “Qunie”), and BDO in Ukraine, a part of the BDO network, one of the largest International Audit & Consulting Companies, have agreed to cooperate in providing consulting services to Japanese companies willing to promote their business in Ukraine.
The efforts for Ukraine’s recovery and reconstruction are underway, and Japan is also called upon to provide public and private sector support in a wide range of areas, including the development of infrastructure. For the Japanese companies to support Ukraine through business, there is a crucial need for an in-depth knowledge of Ukraine, including its business practices, laws and regulations, as well as business experience. The two companies will support Japanese organizations entering the Ukrainian market by combining the BDO in Ukraine’s deep knowledge of the Ukrainian business environment through providing consulting services all over Ukraine with Qunie’s extensive expertise in Japanese business practices. This will enable the Japanese companies to gather information about Ukraine and to look for the best local partners in order to develop their business in the country, even with restrictions on travel to Ukraine.
BDO in Ukraine and Qunie aim to provide consulting services through this collaboration to ten companies over the next three years.
Background
While the invasion of Ukraine by russia continues to this very day, the efforts for recovery and reconstruction are underway, and Ukraine constantly seeks the support from countries around the world. Unlike Europe and the U.S., Japan is restricted from providing assistance in the military field, so the Japanese government has expressed its intention to provide assistance in the non-military field of recovery and reconstruction. At the conference, the Ukrainian side expressed their strong expectations for Japan’s public-private partnership, and cooperation documents were signed by the companies from both countries in seven areas, including the “mine countermeasures”, “debris disposal”, “agricultural development and upgrading the related industries”, and “development of businesses in the digital and IT sectors.”
In addition, Ukraine has had abundant business opportunities in the agricultural and industrial sectors even before the russian invasion. Over the recent years, the digital-related businesses have also emerged, indicating various excellent investment opportunities in Ukraine.
Against this backdrop, there are signs of Japanese companies entering the Ukrainian business market. However, travelling to Ukraine still remains restricted (as of June 2024), except for some unavoidable cases, such as support for recovery and reconstruction. As a result, it is difficult for the Japanese nationals to stay in Ukraine for long periods of time and promote their businesses there, and many Japanese companies face challenges in obtaining local information and networks.
BDO in Ukraine has more than 200 employees working in two offices, in Kyiv and Dnipro. The company has a strong advisory practice, making it a reliable partner for international organizations aiming to help Ukraine in its recovery. The company’s CEO, Vira Savchenko, visited Japan and attended the “Japan-Ukraine Economic Recovery Promotion Conference” in February of the current year. Additionally, many of the company’s consultants have a deep understanding of Japan, as evidenced by their participation in training programs offered by the Ukrainian office of the Japan International Cooperation Agency (JICA).
Qunie Corporation is a business consulting company of the NTT DATA Group. As a partner to its clients, the company provides a wide range of solutions by highly specialized and experienced professionals to help its clients implement their transformational change on a global basis. Qunie has provided business consulting services to many Japanese companies and supported their expansion overseas.
Therefore, the two companies have decided to collaborate to support Japanese companies in their business development in Ukraine.
Andrii Borenkov, Head of Advisory at BDO in Ukraine, commented on this cooperation. “We are absolutely thrilled about this partnership at BDO in Ukraine. It will allow us to leverage Qunie Corporation’s expertise and resources to ensure the successful recovery for Ukraine. Together, we will create new opportunities for Japanese businesses to contribute to our nation’s revitalization, fostering economic growth and prosperity. We are particularly excited about integrating innovative Japanese solutions that Qunie Corporation has to offer, which will undoubtedly enhance reconstruction projects and economic initiatives in Ukraine.”
Summary
Qunie and BDO in Ukraine will collaborate to provide consulting services to Japanese companies seeking to develop business in Ukraine. This service will enable Japanese companies to take a comprehensive approach to business in Ukraine, including the data package on Ukrainian laws and regulations, and the search for partner companies, which is essential for business development in the country, even with the restrictions on travel to Ukraine.
