Business news from Ukraine

TRADE CENTER IN TERNOPIL WANTS TO BEGIN CONSTRUCTION OF SECOND STAGE WORTH $15 MLN

Terkuriy-2 LLC (Ternopil region), the owner of the Podoliany shopping and entertainment center with an area of 50,000 square meters, plans in 2019 to begin the construction of the second phase of the facility worth about $15 million.
“We are preparing an updated format, want to increase the trade area by 15,000 square meters, to 55,000 square meters. The total area will be about 80,000 square meters,” director for development at the Podoliany trade center Tetiana Chubak told the agency during the Retail & Development Business Expo 2018 exhibition in Kyiv.
She said that investment in the new area of 50,000 square meters will be about $500 per sq m. Currently, according to the website of the center, the total area of the facility is about 50,000 square meters.
According to Chubak, the project provides for an increase in the number of parking places to 1,500 from 1,300, including a two-level parking lot. The commissioning is planned for 2020.
The Podoliany center at 28Ch Tekstylna Street in Ternopil was opened in 2007.
According to Chubak, attendance of the shopping center last year amounted to 6 million people.

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PARLIAMENT PASSES CONCESSION BILL

Ukraine’s Verkhovna Rada has passed at first reading bill No. 8125 on concession. A total of 240 lawmakers backed the document on Tuesday. Head of the parliamentary committee for the economic policy Andriy Ivanchuk said that the bill divides regulation of concession and other forms of public private partnership, relaxes the rules of allocating land parcels for concession projects, sets the unified rules of making decisions for all types of public private partnership, including concession. The ownership right to the facility under concession is left to the territorial community, he said.
“According to statistics, the EU has signed concession agreements for EUR 12 billion. This is a modern tool that triggers development of infrastructure,” he said, presenting the bill in parliament. Ivanchuk said that the bill requires revision for second reading, in particular, in relation to the concession tender

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UKRAINIANS PREFER COMPANY REGISTRATION IN ESTONIA USING E-RESIDENCY, NEXT COMES FINLAND, GERMANY

Citizens of Ukraine have registered the most companies in Estonia using the e-residency system – 423 companies, the head of the Tallin office of Ilyashev and Partners Vitaliy Halytskykh has said. “Ukrainians top registrations – 423 companies, while 2,131 Ukrainian citizens have received e-residency cards. Next comes Finland – 315, Germany – 311. Demand is growing,” he said in an interview to the Kyiv-based Interfax-Ukraine news agency.
Some 3,444 companies have been registered using the e-residency card, while in November 2017 the number was 3,000.
“The e-residency card does not offer tax residency or the right to visit Estonia, but allows the use of all government services, including registering companies online, online banking, signing contracts electronically, serving motions online, et cetera – about 99% of all state services can be used online, and e-Residency in Estonia makes them internationally available. This has attracted Ukrainian business,” Halytskykh said.

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