Business news from Ukraine

STATE DEBT OF UKRAINE FROM 2010 TILL 2017 (MLN UAH)


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NIBULON TO BUILD NEW TRANSSHIPMENT TERMINAL IN UKRAINE (ZAPORIZHIA REGION)

Nibulon plans to build a new transshipment terminal in Ternivka (Zaporizhia region), according to the website of Zaporizhia Regional State Administration.
According to the report, head of the administration Kostiantyn Bryl discussed with the company representatives the procedure of land allocation, energy supply, the need for dredging, other problems.
“Before building anything, you need to do a lot of work with documents, coordinate and resolve problematic issues. Well-coordinated work on the creation and processing of documentation that will not violate the law are now required from a large number of government instances,” he said.
Nibulon LLC was established in 1991. It is one of the largest operators in the grain market of the country. It has elevators with a total capacity of about 2 million tonnes, as well as its own transshipment terminal with a capacity of 5 million tonnes in Mykolaiv.

UKRGAZVYDOBUVANNIA IS LEADER AMONG LARGEST TAXPAYERS

Public joint-stock company Ukrgazvydobuvannia is the leader in the list of largest taxpayers in 2017, paying UAH 50.4 billion of taxes in 2017 compared with UAH 38.1 billion in 2016, the Office of Large Taxpayers of the State Fiscal Service has reported.
The top three largest taxpayers in 2017 also includes private joint-stock company Tobacco Company B.A.T.-Pryluky (UAH 13.1 million), and Philip Morris Ukraine (UAH 13.5 million).
National joint-stock company Naftogaz Ukrainy cut tax payments by UAH 4.6 billion compared with 2016, to UAH 11.5 billion.
Ukrnafta with UAH 10.4 billion paid compared with UAH 8.2 billion in 2016 is also in the top five of largest taxpayers.
The top ten includes JT International Ukraine (UAH 9.5 million), Ukrtatnafta (UAH 8.7 billion) and National Nuclear Generating Company Energoatom (UAH 8.7 billion), as well as Ukrtransgaz (UAH 7.8 billion) and private joint-stock company Imperial Tobacco Production Ukraine (Kyiv, UAH 7.5 billion).
The office said that the top 100 largest taxpayers out of 2,506 serviced by the office in 2017 paid UAH 258.3 billion to the budget, which is over 70% of all payments serviced by the office.
In general, taxpayers serviced by the office increased payments to the consolidated budget by UAH 95 billion, sending UAH 355.1 billion.

Petro POROSHENKO SURE UKRAINE WILL SOON ENTER TOP 50 IN DOING BUSINESS RATING

Ukrainian President Petro Poroshenko expects Ukraine to be among the first 50 countries in the World Bank’s ease of doing business ranking (Doing Business).
“The head of state expressed confidence that Ukraine will achieve even better results and will be among the first 50 countries in the Doing Business rating,” the presidential press service reported on Thursday, January 25, after Poroshenko’s speech at the investor event of the Ukrainian Venture Capital and Private Equity Association (UVCA) at the Ukraine House in Davos, where the 48th annual meeting of the World Economic Forum is taking place.
“In a short period of time we will be in the first 50. That is absolutely realistic,” he said.
Poroshenko noted the role of the European Bank for Reconstruction and Development (EBRD), the World Bank, the International Monetary Fund (IMF), international financial institutions and others in supporting reforms.
“Today we had a discussion – whether the glass is half full or empty. I have a new version and I hope Mr. President [EBRD President Suma Chakrabarti] will support me – it isn’t half anymore, we already have more. And this is an important message – please, do not waste time waiting for June-July-August or autumn. This is the right time and place to be here today in the Ukraine House Davos. We are waiting for you, for investors,” he said.
In this context, he noted that much had been done to improve the investment climate.
“Ukraine is different now. You can come and we’ll show you that,” Poroshenko said.
According to him, this year more than 80 companies – world leaders requested a meeting with the Ukrainian president.
“This is a good indicator how popular Ukraine is among the investors and how confident they are about our success,” Poroshenko added.
He also provided examples of changes in Ukraine in the recent period. According to him, it was possible to achieve macro-financial stability, clean up the banking system, adopt education reform, healthcare reform, judicial and pension reforms, as well as important steps in cybersecurity and rural medicine. Poroshenko recalled that a new law on privatization had been adopted.
“When I was elected president, Ukraine didn’t have 3G connection because of corruption. Shortly, we will open the envelope for 4G connection. We have many companies ready to invest in that,” he said.