Business news from Ukraine

Business news from Ukraine

In 2025, 6,300 migrant workers remained in Ukraine

In 2025, 9,582 work permits were issued to foreign nationals and stateless persons, and 3,310 were revoked. Thus, 6,272 migrant workers remained in the country, accounting for 0.14% of the 4.5 million workers needed to fill the labor market, a well-informed government source told the Interfax-Ukraine news agency.

The State Employment Service also confirms the small share of foreigners in the domestic labor market. According to the agency’s statistics, prior to the full-scale invasion, employers received approximately 21,000 work permits for foreigners annually.

“After 2022, this figure decreased and has not yet reached pre-war levels. For example, 4,720 permits were issued in 2024, and 7,483 in 2025. This is more than half the number issued before the start of the full-scale war,” the Employment Service’s website states.

The State Migration Service provides slightly different statistics. As of December 31, 2025, there were 47,684 foreigners and stateless persons (temporary residents) registered in Ukraine. Of these, 8,440 temporary residence permits were issued for the first time in 2025.

However, all agencies agree that the share of foreigners in the domestic labor market is negligible. After all, when processing documents, aside from the employer’s consent, numerous issues arise regarding visas, SBU checks, residence permits, and other matters, which is why only a fraction of workers actually come to Ukraine.

Thus, despite labor migration, the labor market is increasingly feeling a shortage of workers.

“That is why it is now necessary to develop a new migration policy, taking as an example the legislation of countries that are successful in this regard, such as Canada, Australia, or Israel. Then there will be no speculation, and the problem of securing a workforce for Ukrainian businesses will be resolved,” the agency’s source emphasized.

Although, in his opinion, it is certainly best to focus on preserving the domestic labor force so that Ukrainians return from the EU rather than leave for it. And only after that, once we understand how many workers are lacking and in which sectors, should we attract foreign workers for specific projects, establishing rules for employer companies and ensuring oversight of them by the State Labor Service.

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Metinvest Business Service reported net profit of 10.6 mln UAH in first quarter

Metinvest Business Service LLC (MBS, Kryvyi Rih, Dnipropetrovsk Oblast), a multifunctional center providing accounting, tax, and other services, in January-March of this year, reported a net profit of UAH 10.567 million, compared to a net loss of UAH 27.437 million for the same period last year.

According to the company’s interim report, which is available to the agency “Interfax-Ukraine”, revenue from ordinary activities for this period decreased by 1.4% to UAH 158.587 million.

The accumulated deficit as of the end of March amounted to UAH 1.261 million.

In 2025, the company reported a net profit of UAH 9.674 million, compared to a net loss of UAH 8.495 million in the previous year, while revenue from ordinary activities for this period increased by 8.6%—to UAH 712.139 million from UAH 655.541 million.

The average number of employees at the end of 2025 was 1,050, and at the end of 2024, it was 1,279.

Metinvest Business Service LLC (Kryvyi Rih, Dnipropetrovsk Oblast) is a multifunctional service center providing accounting and tax services, treasury operations, human resources management services, legal services, and other services. The company was founded in 2014 and serves as the sole service center for Metinvest Group companies. MBS offices are located in Kryvyi Rih, Mariupol (prior to the war), and Zaporizhzhia.

Metinvest Holding LLC owns a 100% stake in MBS LLC.

The LLC’s authorized capital is UAH 71.125 million.

MBS LLC is part of the Metinvest Group, whose main shareholders are PJSC System Capital Management (SCM, Donetsk) (71.24%) and the Smart-Holding group of companies (23.76%). The management company of the Metinvest Group is Metinvest Holding LLC.

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Zaporizhstal reduced rolled steel shipments by 6.3% in January–May

The Zaporizhzhia Metallurgical Plant “Zaporizhstal” reduced rolled steel shipments by 6.3% in January-May of this year compared to the same period last year—to 1.0285 million tons from 1.0973 million tons.

According to the company’s press release on Monday, steel production for the first five months of the year amounted to 1,158,100 tons (1,296,800 tons in January–May 2025), and pig iron production to 1,255,000 tons (1,426,900 tons) .

In May, Zaporizhstal produced 242,100 tons of pig iron and 243,400 tons of steel, and shipped 208,900 tons of rolled steel, whereas the previous month it produced 193,500 tons of pig iron, 156,600 tons of steel, and shipped 159,100 tons of rolled steel.

Other reports indicate that the company has a “Bring a Friend” program, which not only helps acquaintances find stable employment but also strengthens the team with reliable people and provides additional monetary rewards. Since the beginning of the year, 323 new employees have joined the plant’s workforce thanks to employee referrals. A total of 265 Zaporizhstal employees have participated in the program. The total budget for payments since the start of the year has already exceeded 4.7 million UAH.

As reported, in 2025, Zaporizhstal increased its rolled steel output by 15.2% compared to the previous year—to 2,794,600 tons from 2,426,700 tons. Steel production amounted to 3,212,200 tons (in 2024 – 2,890,800 tons), and pig iron production – 3,567,800 tons (3,106,300 tons).

In 2024, Zaporizhstal increased rolled steel output by 18.1% compared to 2023—to 2,426,700 tons from 2,054,700 tons—and steel output by 17.2%, to 2,890,800 tons, and pig iron by 14.2%, to 3,106,300 tons.

Zaporizhstal is one of Ukraine’s largest industrial enterprises, whose products are in high demand among consumers both in the domestic market and in many countries around the world.

Zaporizhstal is a joint venture of the Metinvest Group, whose main shareholders are PJSC System Capital Management (71.24%) and Smart Steel Limited (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.

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Independence Monument in Kyiv was illuminated in colors of Italy for first time to mark 80th anniversary of Italian Republic

Kyiv hosted celebrations marking the 80th anniversary of the proclamation of the Italian Republic. On this occasion, the Independence Monument on Maidan was illuminated for the first time in history in honor of a foreign country—in the colors of the Italian tricolor, according to the Italian Embassy in Ukraine.

The events in Kyiv were hosted by Italian Ambassador to Ukraine Carlo Formosa. In his speech, he emphasized the connection between Italy’s historical experience after World War II and Ukraine’s current struggle for freedom and independence.

“Looking at today’s Ukraine and its resilience, memories come to mind of the sacrifices Italians made after the tragedy of fascism and the war to build a democratic state together. Just like our country eighty years ago, the courageous and unbreakable people of Ukraine are experiencing a moment when freedom ceases to be an abstract concept and becomes a daily, concrete, and precious choice,” the ambassador stated.

Formosa noted that Ukraine is defending not only itself but also principles vital to all of Europe: sovereignty, the right of a people to choose their own future, and the inadmissibility of using force as an argument in international relations.

“It is precisely thanks to its deep commitment to these values that Italy has stood unwaveringly by Ukraine’s side from the very first day of the Russian invasion. We continue to work together for a just and lasting peace,” the ambassador added.

The celebrations were attended by representatives of Ukraine’s state bodies, the Office of the President, the government, central and local authorities, as well as representatives of business, culture, science, the media, civil society, and the Italian community in Ukraine.

A separate part of the program was the exhibition “Renato Balestra. Codes of Haute Couture,” opened in Kyiv to mark the anniversary of the Italian Republic. The exhibition features eleven evening gowns from the fashion house, founded in Rome in 1959. The exhibition traces the over 60-year history of the Made in Italy brand, the legacy of its founder, and the fashion house’s contemporary development.

The Italian Embassy also provided photo and video materials showing the Independence Monument illuminated in the colors of the Italian flag. The materials are available for free use.

The Italian Republic was proclaimed following a referendum on June 2, 1946, as a result of which Italy abandoned the monarchy and became a republic. Republic Day is Italy’s main national holiday.

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MetLife shareholders to pay out 270 million hryvnia in dividends

On May 27, 2026, the shareholders’ meeting of MetLife PJSC (Kyiv) approved a dividend payment of UAH 270.074 million (UAH 32.8 per share), the insurer reported via the NSSMC’s information disclosure system.

According to the published data, the payment will be made in U.S. dollars, subject to the restrictions established by the National Bank of Ukraine (NBU) on the transfer of foreign currency abroad by residents to a foreign investor/non-resident for the payment of dividends, effective from July 1, 2026, through November 27, 2026.

As reported, MetLife PJSC is part of the leading global corporation MetLife. It has been operating in Ukraine since 2002 and is the leader in the Ukrainian life insurance market.

Its main business areas include endowment life insurance, accident and critical illness insurance, corporate insurance, and bancassurance.

MetLife’s investment income in 2025 reached a record 1.19 billion UAH, which is 39.3% more than the previous year.

In 2025, the company collected 3.08 billion UAH in insurance premiums, which is 10.7% higher than the 2024 figure. The core of the portfolio is savings life insurance—over UAH 2.08 billion in premiums (+11%). The personal risk insurance segment (life + non-life) generated over UAH 1 billion for the company. During the reporting period, MetLife paid out UAH 623.6 million, a 23% increase compared to the previous year.

In early May 2026, the PZU SA Group announced that it had entered into a conditional agreement to acquire 100% of the shares in MetLife Ukraine.

 

Scheme to transfer nearly 200 bln hryvnias abroad uncovered — State Tax Service

The State Tax Service of Ukraine (STS) has uncovered evidence of a coordinated network of over 2,300 companies that effectively ceased to exist after conducting foreign economic transactions totaling over 198 billion UAH, reported Lesya Karnaukh, Acting Head of the STS.

“It took quite some time to uncover this scheme. Its participants are becoming increasingly inventive in their methods of concealing violations. To determine the riskiness of the transactions being conducted, we analyzed data sets using risk-based approaches… Such a concentration of management functions is atypical for real business and indicates signs of the organized use of such individuals as nominal managers,” she wrote on her Facebook page.

According to the agency head, the relevant data was obtained based on an analysis of information from the National Bank of Ukraine (NBU) regarding violations of payment deadlines for the period from 2024 to the first quarter of 2026. The majority of transactions involved the export of goods: 1,243 companies carried out exports totaling over 176 billion UAH, while 555 companies conducted import transactions totaling over 18 billion UAH.

Lesya Karnaukh specified that 73% of the offending companies and 78% of the total volume of transactions are concentrated in seven regions: Odesa, Dnipropetrovsk, Lviv, Kharkiv, Kyiv, and Zaporizhzhia regions, as well as in Kyiv. Tax authorities recorded the mass re-registration of hundreds of companies under the same individuals, as well as the use of shared IP addresses and mass registration addresses in Kyiv and Lviv. In particular, seven individuals were identified, each of whom simultaneously serves as the director or founder of over 500 companies.

Based on data from the National Bank of Ukraine, tax authorities have already conducted audits and assessed over UAH 70 billion in penalties for violations of foreign exchange legislation in the field of foreign economic activity. The State Tax Service has forwarded all collected materials to the Office of the Prosecutor General for a legal assessment. Regarding 557 business entities, the agency has already prepared analytical conclusions indicating violations of the law and signs of money laundering.

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