doingbusinessinukraine

Tuesday, September 3

Businesses have learned to live without electricity: The enterprise business activity assessment has improved. In August, the index of business activity expectations calculated by the National Bank was 48.4 compared to 44.4 in July. Gradual adaptation to permanent power outages and establishment of alternative...

Wednesday, August 21

Ukraine’s top 1,000 largest companies earned almost ₴7.2T last year. The 1,000 largest Ukrainian enterprises generated nearly ₴7.2T in net income in 2023, 19.4% more than a year earlier. These companies sold 54% of Ukraine’s total production volume (52% in 2022)....

Tuesday, June 14

Ukrainians registered 31,266 enterprises, most of them in IT. During the three months of the war, Ukrainians formed more than 30,000 enterprises. The majority of these are computer programming businesses, reported the Ministry of Digital Transformation. In total...

Thursday, June 2

The state has registered a record number of new entrepreneurs. In the last week of May, 4,454 new Individual Entrepreneurs (FOPs) were registered, the largest figure since Russia’s full-scale invasion of Ukraine. As well, the number of registrations of new...

Wednesday, May 11

Small and medium-sized businesses in Ukraine have lost $85B. Small and medium-sized enterprises (SMEs) have suffered direct losses of $64-85B in the 75 days since the war began, stated the Advanter Group. SMEs have a total funding need of $54B, with 87% of com...

Friday, October 15

Shmyhal invites Swedish companies to invest in Ukraine. “Diversification of sources of nuclear fuel supply is one of our priorities in the context of energy security for our country. In addition, Ukraine has fulfilled all the technical conditions to ensure...

Wednesday, July 28

Business confidence has returned to pre-pandemic levels of October 2019, reports the central bank. Now, the trend line seems headed to the high levels of the start of the Zelenskiy Presidency. Agriculture and trade were the locomotives of a 4 point increase in the Business...

Tuesday, May 11

Today through Wednesday, 65 speakers will talk about Ukraine’s business climate, problems and opportunities at the U.S.-Ukraine Foundation’s annual Business Expo. Hosted in Washington, the virtual conference brings together American and Ukrainian participants and observers of Ukraine’s contemporary business...

Monday, December 28

Legalized gambling will bring in $270 million in new tax revenues in 2021 Legalized gambling will bring in $270 million in new tax revenues in 2021, Hetmantsev predicted in the Radio Svoboda interview. Gambling in high-end hotel casinos is to start in Ukraine next year.

Ukrainian Insurance Group, a unit of Vienna Insurance Group, has paid $1.3 million for a cargo of wheat destroyed on August 4 in the massive port explosion in Beirut Ukrainian Insurance Group, a unit of Vienna Insurance Group, has paid $1.3 million for a cargo of wheat destroyed on August 4 in the massive port explosion in Beirut. The cargo was insured against all...

In 2021, Ukraine’s air travel will only rebound to half the level of 2019 In 2021, Ukraine’s air travel will only rebound to half the level of 2019, Infrastructure Minister Vladyslav Krikliy estimated in a year end interview with Channel 24. The 2019 level 25 million passen...

President Zelenskiy signed on Friday the national budget for 2021 President Zelenskiy signed on Friday the national budget for 2021. Expenditures are to be $46.5 billion and revenues are $38.2 billion. The deficit of $8.3 billion is to be 5.5% of GDP, forecast at $1...

Wizz Air plans to fly from Vinnytsia, its sixth Ukrainian city, Vinnytsia Mayor, Serhiy Morgunov, told Wizz Air plans to fly from Vinnytsia, its sixth Ukrainian city, Vinnytsia Mayor, Serhiy Morgunov, told Avianews. He said: “We are talking about the potential opening of flights from Vinnitsa to Berlin...

The budget is built around these numbers for 2021: The budget is built around these numbers for 2021: GDP growth — 4.6%; inflation — 7.3%, public debt to GDP at 65%; average exchange rate — UAH 29.1 per dollar (versus UAH 28.39 today...

In 2021, the Infrastructure Ministry plans to spend $21 million to upgrade the runway of Vinnytsia In 2021, the Infrastructure Ministry plans to spend $21 million to upgrade the runway of Vinnytsia, the nation’s 11th busiest airport. At the same time, the city is going to upgrade the terminal to si...

Retail sales for this year through November are up 8% in real terms, compared to the same 11-month period in 2019, Retail sales for this year through November are up 8% in real terms, compared to the same 11-month period in 2019, reports the State Statistics Service. In November alone, retail sales were up 12.1% y...

Starting today, Turkey, the top foreign travel destination for Ukrainians, requires a negative result of PCR coronavirus test performed 72 hours before arrival Starting today, Turkey, the top foreign travel destination for Ukrainians, requires a negative result of PCR coronavirus test performed 72 hours before arrival. Egypt, the other leading destination fo...

Concorde Capital’s Evgeniya Akhtyrko writes Concorde Capital’s Evgeniya Akhtyrko writes: “Retail sales in Ukraine are booming, backed by fast growth of real wages. Strong household consumption is helping the economy to offset falling investment...

Investments were down 24% in the third quarter Investments were down 24% in the third quarter, compared to the same July-September period in 2019. The Central Bank attributes this to uncertainty over the Covid-19 pandemic and freezing of solar and...

To mitigate the impact of the upcoming Covid quarantine, the government last week distributed $80 million in aid to 278,000 employees and small business owners To mitigate the impact of the upcoming Covid quarantine, the government last week distributed $80 million in aid to 278,000 employees and small business owners, the Digitalization Ministry reports. Wi...

Restaurants and bars can stay open until 7 am on New Year’s Day Restaurants and bars can stay open until 7 am on New Year’s Day, the Cabinet of Ministers has decreed. The following weekend, on Friday January 8, a 2-week strict lockdown is to be imposed nationwide,...

China, already Ukraine’s largest trading partner, could increase its two-way trade with Ukraine by 50%, to $20 billion by 2025, China, already Ukraine’s largest trading partner, could increase its two-way trade with Ukraine by 50%, to $20 billion by 2025, Irina Nikorak, executive director of Silk Link, Ukraine’s Silk Road Asso...

Ukraine is negotiating with a Chinese manufacturer for a supply of vaccines against Covid-19, Ukraine is negotiating with a Chinese manufacturer for a supply of vaccines against Covid-19, Ukraine’s Foreign Minister Dmitry Kuleba said Thursday on Ukraine 24 TV channel.

Of the 30 million ‘economically active’ Ukrainians, only 37%, or 10.9 million, pay taxes Of the 30 million ‘economically active’ Ukrainians, only 37%, or 10.9 million, pay taxes, Oleksiy Lyubchenko, Head of the State Tax Service, said recently on the Freedom of Speech show of Ukraina TV. ...

The top tax dodging regions are largely in the West The top tax dodging regions are largely in the West: Uzhgorod – 63%; Chernivtsi – 53%; Odesa — 48%; and Lviv — 46%. In central Ukraine, rates are better: Kyiv – 30%; Cher...

Off the books transactions account for “somewhere over 50%” of GDP Off the books transactions account for “somewhere over 50%” of GDP, Danil Getmantsev, ruling party MP and chair of the Rada committee on finance, tax and customs policy, told Radio Liberty. He called ...

In one step, 100,000 small businesses have downloaded the ‘cash register in a smart phone’ app since its debut August 1 In one step, 100,000 small businesses have downloaded the ‘cash register in a smart phone’ app since its debut August 1, 2020 Getmantsev said. As a result, there have been 100 million sales receipts u...

Friday, December 25

Ukraine does not plan to restrict air travel during the holidays Ukraine does not plan to restrict air travel during the holidays. “The government understands that people are in the mood for the holidays and does not plan to impose any restrictions on air traffic,”...

UIA is ending this year with a passenger count of 1,787,000 – only 22% of the level of 2019. UIA is ending this year with a passenger count of 1,787,000 – only 22% of the level of 2019. Transit passengers declined with UIA’s hub system, falling to 14% of last year. The number of flights was 1...

Seeking to put its airplanes to use, UIA is offering ‘flights to nowhere’ – one-hour sightseeing flights over Kyiv. Seeking to put its airplanes to use, UIA is offering ‘flights to nowhere’ – one-hour sightseeing flights over Kyiv. Passengers are guaranteed to fly above the clouds and to see the sun, a winter rarit...

Internet purchases by Ukrainians grew 41% in 2020, to top $7 billion Internet purchases by Ukrainians grew 41% in 2020, to top $7 billion, estimates a new study by EVO, an umbrella group of online companies. Last year’s growth was only 17%. “One year ago, we forecast e...

Sixty-six Ukraine-connected IT firms have made the annual ranking of top 1,000 leading information technology companies worldwide Sixty-six Ukraine-connected IT firms have made the annual ranking of top 1,000 leading information technology companies worldwide, published by Clutch, a Washington-based matchmaker for IT companies a...

Ukraine’s IT sector grew by 20% last year, fueled by 4,000 IT companies in the market Ukraine’s IT sector grew by 20% last year, fueled by 4,000 IT companies in the market, according to a new report: “Ukraine: The Country that Codes.” The 56-page industry overview prepared by software ...

In a rebuff to China, Ukraine’s Foreign Affairs Ministry has decided to remove all Huawei equipment from its buildings. In a rebuff to China, Ukraine’s Foreign Affairs Ministry has decided to remove all Huawei equipment from its buildings. “Several other government agencies have followed this example,” the Foreign Mini...

The US government may help Ukraine pay the price difference between Huawei equipment and comparable equipment provided by Western companies The US government may help Ukraine pay the price difference between Huawei equipment and comparable equipment provided by Western companies, Keith Krach, US Under Secretary of State for Economic Growt...

Ukraine netted $90 million in 419 privatization auctions this year Ukraine netted $90 million in 419 privatization auctions this year, Economy Minister Ihor Petrashko said on Channel 24 TV, reported the Ministry. By using a transparent internet-based auction system, ...

The latest property of state alcohol producer Ukrspyrt was sold at auction yesterday for $2 million The latest property of state alcohol producer Ukrspyrt was sold at auction yesterday for $2 million, almost double the asking price, reports the State Property Fund. With almost half of Ukrspyrt’s 41 ...

In a nation building exercise, President Zelenskiy plans to inaugurate next year a Lviv-to-Luhansk highway, the longest in the nation. In a nation building exercise, President Zelenskiy plans to inaugurate next year a Lviv-to-Luhansk highway, the longest in the nation. Labelled the M-10, this east-west road would run 1,392 km, almost...

“ “We want to unite the West and the East with a big highway,” Zelenskiy said yesterday, speaking at the inauguration of the first section of Zaporizhia’s bridge over the Dnipro. Providing a new, intern...

With a two-year budget of $500 million With a two-year budget of $500 million, the M-30 saw 580 km restored this year. Another 750 km are to be repaired by the end of next year. For now, the high-speed road will terminate in Pokrovsk, Done...

Ukraine’s Cabinet has approved a $20 billion development plan to rebuild the Ukraine-controlled half of the Donbas. Ukraine’s Cabinet has approved a $20 billion development plan to rebuild the Ukraine-controlled half of the Donbas. Although multilateral institutions, such as the World Bank and the EBRD, are funding...

Concorde Capital’s Zenon Zawada writes: “ Concorde Capital’s Zenon Zawada writes: “Such economic development concepts will remain a fantasy for as long as the situation with the war in Donbas remains as it currently is, which is low-level fig...

The US is preparing new sanctions to block Russia’s Nord Stream 2 gas pipeline The US is preparing new sanctions to block Russia’s Nord Stream 2 gas pipeline, Reuters reports citing three Trump Administration officials. Relying on existing mandates from Congress, the Admin...

Thursday, December 24

By opening Ukraine’s 13 state-owned seaports to private companies through concessions, the government hopes to draw $1.8 billion in private investment through 2038. By opening Ukraine’s 13 state-owned seaports to private companies through concessions, the government hopes to draw $1.8 billion in private investment through 2038. These concessions – largely renting...

The European Investment Bank Board has approved a €270 million loan to upgrade Boryspil Airport The European Investment Bank Board has approved a €270 million loan to upgrade Boryspil Airport, the Bank’s website reports. The money would cover about three quarters of a €351 million Boryspil renew...

Construction is to start next summer on a 4-year, $500 million project to build Ukraine’s largest and most modern ski area in Lviv’s Carpathian Mountains. Construction is to start next summer on a 4-year, $500 million project to build Ukraine’s largest and most modern ski area in Lviv’s Carpathian Mountains. Based in Volosianka, a 3-hour train ride sout...

Outgoing US President Donald Trump vetoed yesterday the US defense budget, a document that includes $275 million in military support for Ukraine Outgoing US President Donald Trump vetoed yesterday the US defense budget, a document that includes $275 million in military support for Ukraine and tighter sanctions on Western companies involved in ...

US Aid to Ukraine is coming under threat from a different direction – dissatisfaction over the coronavirus stimulus bill, which would give payments of $600 per person. US Aid to Ukraine is coming under threat from a different direction – dissatisfaction over the coronavirus stimulus bill, which would give payments of $600 per person. On Tuesday, President Trump call...

Over the next week, Ukraine will attract a 6-month loan from Deutsche Bank of up to $350 million Over the next week, Ukraine will attract a 6-month loan from Deutsche Bank of up to $350 million, the Cabinet of Ministers resolved yesterday. The move to take a bridge loan indicates that the governm...

The Cabinet of Ministers approved yesterday a bill to resume privatization of large state-owned companies The Cabinet of Ministers approved yesterday a bill to resume privatization of large state-owned companies, a process suspended last March due to the coronavirus outbreak. With investors now familiar w...