Aivaras Abromavičius ( ua, Айварас Абромавичус, born 21 January 1976) is a Lithuanian-born
Ukrainian
Ukrainian may refer to:
* Something of, from, or related to Ukraine
* Something relating to Ukrainians, an East Slavic people from Eastern Europe
* Something relating to demographics of Ukraine in terms of demography and population of Ukraine
* So ...
investment banker
Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with ...
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.New Cabinet formed in Ukraine
UNIAN
The UNIAN or Ukrainian Independent Information Agency of News ( uk, Українське Незалежне Інформаційне Агентство Новин, УНІАН, translit=Ukrayins'ke Nezalezhne Informatsiyne Ahentstvo Novyn) is a ...
(14 April 2016) Abromavičius was Director General of
Ukroboronprom
, type = State-owned enterprise
, location =
, industry = Conglomerate: Defense industry
, predecessor =
, founded =
, founder =
, hq_location_city = Kyiv
, hq_location_country = Ukraine
, num_locations =
, num_locations_year =
, ...
, Ukraine's largest
defense industry
The arms industry, also known as the arms trade, is a global industry which manufactures and sells weapons and military technology. It consists of a commercial industry involved in the research and development, engineering, production, and servi ...
enterprise, from 31 August 2019 until 6 October 2020.
Biography
Abromavičius was born in
Vilnius
Vilnius ( , ; see also other names) is the capital and largest city of Lithuania, with a population of 592,389 (according to the state register) or 625,107 (according to the municipality of Vilnius). The population of Vilnius's functional urb ...
,
Lithuania
Lithuania (; lt, Lietuva ), officially the Republic of Lithuania ( lt, Lietuvos Respublika, links=no ), is a country in the Baltic region of Europe. It is one of three Baltic states and lies on the eastern shore of the Baltic Sea. 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
Concordia International University Estonia (CIUE) was a private university in Tallinn, Estonia. It was established in 1993 as the Estonian campus of the Concordia International University, a private institution established in Milwaukee in 1992, ...
and
Concordia University Wisconsin
Concordia University Wisconsin (CUW) is a private Lutheran university in Mequon, Wisconsin. It is part of the eight-member Concordia University System operated by the Lutheran Church–Missouri Synod (LCMS).
The university is a coeducational in ...
. He started his career in finance in 1996 at the then
Hansabank
Hansabank was a bank operating in Estonia, Latvia, and Lithuania owned by the FöreningsSparbanken/ Swedbank, a Swedish bank. Following a decision taken by the Swedbank group on 15 September 2008, the Hansabank name was discontinued in 2009 w ...
(now part of 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
Donetsk ( , ; uk, Донецьк, translit=Donets'k ; russian: Донецк ), formerly known as Aleksandrovka, Yuzivka (or Hughesovka), Stalin and Stalino (see also: Names of European cities in different languages (C–D), cities' alternat ...
and in 2008 they settled in
Kyiv
Kyiv, also spelled Kiev, is the capital and most populous city of Ukraine. It is in north-central Ukraine along the Dnieper, Dnieper River. As of 1 January 2021, its population was 2,962,180, making Kyiv the List of European cities by populat ...
, where their three children were born.
After the
2014 Ukrainian revolution
The Revolution of Dignity ( uk, Революція гідності, translit=Revoliutsiia hidnosti) also known as the Maidan Revolution or the Ukrainian Revolution,
Abromavičius, a
Lithuanian citizen
Lithuanian nationality law operates on the jus sanguinus principle, whereby persons who have a claim to Lithuanian ancestry, either through parents, grandparents, great-grandparents may claim Lithuanian nationality. Citizenship may also be granted ...
, was asked to serve as Minister of Economic Development and Trade of Ukraine.
Ukrainian President
The president of Ukraine ( uk, Президент України, Prezydent Ukrainy) is the head of state of Ukraine. The president represents the nation in international relations, administers the foreign political activity of the state, condu ...
Petro Poroshenko
Petro Oleksiyovych Poroshenko ( uk, Петро́ Олексі́йович Пороше́нко, ; born 26 September 1965) is a Ukrainian businessman and politician who served as the fifth president of Ukraine from 2014 to 2019. Poroshenko ser ...
granted
citizenship
Citizenship is a "relationship between an individual and a state to which the individual owes allegiance and in turn is entitled to its protection".
Each state determines the conditions under which it will recognize persons as its citizens, and ...
to Abromavičius,
Natalie Jaresko
Natalie Ann Jaresko ( uk, Наталія Енн Яресько; born 24 April 1965) also known as Natalia Ivanivna Yaresko ( uk, Наталія Іванівна Яресько) is an American-born former U.S. State Department official and Ukrain ...
and
Alexander Kvitashvili
Alexander "Sandro" Kvitashvili ( ka, ალექსანდრე ანდროკვიტაშვილი, ''Alek'sandre Kvitashvili''; uk, Олександр Мерабович Квіташвілі, ''Oleksandr Merabovych Kvitashvili'' ...
on 2 December 2014 to allow them to serve as ministers in the
English
English usually refers to:
* English language
* English people
English may also refer to:
Peoples, culture, and language
* ''English'', an adjective for something of, from, or related to England
** English national ide ...
and
Russian
Russian(s) refers to anything related to Russia, including:
*Russians (, ''russkiye''), an ethnic group of the East Slavic peoples, primarily living in Russia and neighboring countries
*Rossiyane (), Russian language term for all citizens and peo ...
.Aivaras Abromavicius profile - East Capital Management, retrieved 28 Jan 2015
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
Prozorro (Ukrainian: Прозоро – transparent, clear) is a public electronic procurement system where state and municipal customers announce tenders to purchase goods, works and services, and business representatives compete for the oppo ...
was launched, which received multiple international awards and recognition and saved billions of
Hryvnia
The or ( ; uk, гривня , : ''hrn''; sign: ₴; code: UAH) has been the national currency of Ukraine since 2 September 1996. The hryvnia is divided into 100 . It is named after a measure of weight used in medieval Kievan Rus'.
Name Etym ...
s.
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
Naftogaz of Ukraine ( uk, НАК "Нафтогаз України", ''Naftogaz Ukrayiny''; literally "Petro-Gas of Ukraine") is the largest national oil and gas company of Ukraine. It is a state-owned company
.
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
Ihor Vitaliiovych Kononenko ( uk, Ігор Віталійович Кононенко; born 21 August 1965) is a Ukraine, Ukrainian businessman and politician.
Kononenko is a deputy of the Verkhovna Rada (8th convocation) since November 2014, fi ...
, who was the deputy head of the Bloc of Petro Poroshenko parliamentary faction. According to Abromavičius Kononenko was trying to install a new deputy in the economy ministry to further his own interests. On the same day, Kononenko stated he was ready to give up his parliamentary mandate should his faction would ask him to do so. 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
Corruption is a form of dishonesty or a criminal offense which is undertaken by a person or an organization which is entrusted in a position of authority, in order to acquire illicit benefits or abuse power for one's personal gain. Corruption m ...
. Nine Western
ambassadors
An ambassador is an official envoy, especially a high-ranking diplomat who represents a state and is usually accredited to another sovereign state or to an international organization as the resident representative of their own government or sov ...
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. He was finally relieved from his post when the Groysman Government was installed in 14 April 2016.
In 2019 Abromavičius returned to the political arena of Ukraine, when he set up meetings for
presidential candidate
A candidate, or nominee, is the prospective recipient of an award or honor, or a person seeking or being considered for some kind of position; for example:
* to be elected to an office — in this case a candidate selection procedure occurs.
* t ...
Volodymyr Zelensky
Volodymyr Oleksandrovych Zelenskyy, ; russian: Владимир Александрович Зеленский, Vladimir Aleksandrovich Zelenskyy, (born 25 January 1978; also transliterated as Zelensky or Zelenskiy) is a Ukrainian politicia ...
. On June 12, 2019,
President of Ukraine
The president of Ukraine ( uk, Президент України, Prezydent Ukrainy) is the head of state of Ukraine. The president represents the nation in international relations, administers the foreign political activity of the state, condu ...
Zelensky appointed Abromavičius to serve as a Member of the Supervisory Board at
Ukroboronprom
, type = State-owned enterprise
, location =
, industry = Conglomerate: Defense industry
, predecessor =
, founded =
, founder =
, hq_location_city = Kyiv
, hq_location_country = Ukraine
, num_locations =
, num_locations_year =
, ...
. On 31 August 2019 president Zelensky appointed Abromavičius as the
Director General
A director general or director-general (plural: ''directors general'', ''directors-general'', ''director generals'' or ''director-generals''
) or general director is a senior executive (government), executive officer, often the chief executive offi ...
Ukrinform
The National News Agency of Ukraine ( uk, Українське національне інформаційне агентство), or Ukrinform ( uk, Укрінформ), is a state information and news agency, and international broadcaster of ...
Ukrayinska Pravda
''Ukrainska Pravda'' ( uk, Українська правда, lit=Ukrainian Truth) is a Ukrainian online newspaper founded by Georgiy Gongadze on 16 April 2000 (the day of the Ukrainian constitutional referendum). Published mainly in Ukraini ...
(7 October 2020)) by a decree of president Zelensky on 6 October 2020.Ukroboronprom CEO Aivaras Abromaviсius fired
UNIAN
The UNIAN or Ukrainian Independent Information Agency of News ( uk, Українське Незалежне Інформаційне Агентство Новин, УНІАН, translit=Ukrayins'ke Nezalezhne Informatsiyne Ahentstvo Novyn) is a ...
Ukrayinska Pravda
''Ukrainska Pravda'' ( uk, Українська правда, lit=Ukrainian Truth) is a Ukrainian online newspaper founded by Georgiy Gongadze on 16 April 2000 (the day of the Ukrainian constitutional referendum). Published mainly in Ukraini ...
(6 October 2020)
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
Austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. There are three primary types of austerity measures: higher taxes to fund spend ...
, advocating "radical spending cuts" as well as
deregulation
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere. It is the repeal of governmental regulation of the economy. It became common in advanced industrial economies in the 1970s and 1980s, as a ...
and
privatisation
Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...