On April 24, Bila Tserkva Industrial Park hosted the international forum “Industrial Evolution: Production turns on the economy” was held in Bila Tserkva Industrial Park. The event brought together more than 1000 participants – representatives of Ukrainian manufacturing companies, the government, international partners and investors – to discuss how to restore Ukraine’s industry, attract investment and launch a new industrial economy.
In four panel discussions, leading experts discussed key issues of industrial development in Ukraine: prospects for industrial growth, the role of industrial parks, investment mechanisms, innovation, and effective interaction between the state and business.
The first panel discussion “The Road to a Strong Economy” was attended by Mykhailo Fedorov, Vice Prime Minister of Ukraine for Innovation, Education, Science and Technology Development and Minister of Digital Transformation of Ukraine, Viktor Mykyta, Deputy Head of the Presidential Office, Ruslan Kravchenko, Head of the State Tax Service, and Kostiantyn Yefymenko, President of Biopharma Plasma.
“If we want to see Ukraine among the top 30 countries in the world in terms of GDP, we must develop technologies and innovations: microelectronics, chips, drones and other breakthrough areas. That is why we have created the WINWIN Strategy for Digital Development of Innovations in Ukraine until 2030, which unites 14 areas – from fintech to AI. We are already working on various tools to create conditions for the development of innovations in Ukraine: incentives, regulatory fast tracks, access to financing, and mechanisms for opening new markets. After all, digitalization, technology, and innovation should become the foundation of our economic development,” said Mykhailo Fedorov.
In his speech, Vasyl Khmelnytsky, the initiator of the forum and founder of UFuture holding, emphasized that industrial parks are the key to economic growth and the return of Ukrainians home.
“It is possible to bring our people back from abroad. We need to create competitive opportunities in Ukraine – quality education, jobs, decent wages, living standards and services. An industrial park is just such a point of economic growth and a magnet for innovation, investment and talent. The support of industrial parks by the state and local communities is an investment. Last year, we transferred UAH 18 million in taxes to the local budget, this year – UAH 25 million, and next year – UAH 50 million. In 20 years, we will have paid more than a billion. And this is only the local level. Today, we are laying the foundation for the future 15-20 years ahead,” Vasyl Khmelnytsky said.
The forum also saw the opening of a new plant by Peikko Group (Finland), a leading European manufacturer of solutions for monolithic and prefabricated construction. The enterprise, built on the territory of the industrial park, is an example of foreign business confidence in the potential of Ukrainian industry. The launch of the plant means new jobs, technology transfer and an additional impetus for the development of the production cluster in Bila Tserkva.
“We are investing in Ukraine because of your talent and excellent engineering skills. You have a lot of good know-how and production, a lot of demanding consumers, which is good. And you have a sales market that functions in such a difficult environment, but still works. And this is enough for us to open our production here. It was a risk worth taking. The question was not “why in Ukraine?” but “why not in Ukraine?” And I could not find any reasons why not. That is why we, a European company, are here today. And I would like to emphasize that Ukraine’s place is in Europe,” said Topi Paananen, CEO of Peikko Group, at the ribbon-cutting ceremony for the plant’s opening.
In addition, Minister of Community and Territorial Development Oleksiy Kuleba and Viktor Mykyta met with business representatives from different regions during the forum. The conversation was dynamic and constructive.
The event featured a Made in Ukraine expo zone, which presented modern technologies and innovations that are already changing production, urban infrastructure and industrial logistics. Among the solutions presented were automation equipment, construction and infrastructure equipment, machinery for the utility sector, systems for electric mobility, welding, ventilation and material processing, as well as components for industrial and automotive electronics.
The forum showed that despite the war, the Ukrainian industry is not stopping, but is looking for ways to develop and partner. The event has become a space for networking, presenting solutions and finding common ground between business, investors and the government.
The National Bank of Ukraine (NBU) has improved its estimate of the electricity deficit in Ukraine this year from 4% to 3% and next year from 2% to 1% due to rapid repairs and development of distributed generation.
“Rapid repairs of shunting generation and energy infrastructure, development of distributed electricity generation and renewable energy capacities against the background of maintaining sustainable electricity imports allow us to improve the estimate of the electricity deficit over the forecast horizon,” the NBU states in its April 2025 Inflation Report, comparing it with the January report.
According to the NBU, the deficit will almost disappear in 2027 (1%).
Thus, according to the report, the impact of energy supply restrictions on real GDP will decrease, and annual electricity imports in 2025-2027 will amount to about $0.5 billion.
As reported, at the end of 2024, the Ministry of Energy reported that the total capacity of distributed gas-fired generation units connected in Ukraine last year amounted to 967 MW, of which 835 MW were commissioned in 2024.
Naftogaz Group will use a EUR 270 million loan from the European Bank for Reconstruction and Development (EBRD) and a EUR 140 million grant from the Norwegian government through the NORAD fund to purchase 1 billion cubic meters of gas as a matter of urgency.
“The funds received are extremely important for Naftogaz. They will allow us to purchase almost 1 billion cubic meters of gas, which is critical for the stable passage of the next heating season, especially in the context of war and regular attacks on our energy infrastructure. I am grateful to all the partners who help Naftogaz prepare for the next winter,” commented Roman Chumak, CEO of Naftogaz Group, in a statement on the company’s website on Monday.
Chumak emphasized that the financing is already available and expressed his gratitude to the EBRD, the Ministry of Finance of Ukraine, the Ministry of Foreign Affairs of Norway and the NORAD Foundation, as well as the Naftogaz team for the successful cooperation that helped to attract financing for gas purchases.
As noted, cooperation with international financial institutions is part of Naftogaz’s long-term strategy to diversify its supply sources and ensure Ukraine’s energy stability.
Earlier it was reported that on April 25, the EBRD confirmed the provision of a EUR 270 million loan to Naftogaz of Ukraine to create strategic gas reserves, Norway supplemented the loan provided under the state guarantee with a grant of EUR 139 million, which will come through the EBRD Special Crisis Response Fund.
“Naftogaz has previously received two EBRD loans totaling EUR 500 million, which were accompanied by guarantees from the United States, Norway, Germany, France, Canada and the Netherlands totaling EUR 275 million, as well as grant funding of EUR 187 million from Norway for emergency purchases of natural gas.
At the end of March, Dmytro Abramovich, a member of the Board and Commercial Director of Naftogaz Group, said that Ukraine needs to import 4.5-4.6 billion cubic meters of natural gas by November 1 this year.
The largest Ukrainian mobile operators Kyivstar and VF Ukraine (Vodafone Ukraine) have completed the exchange of frequencies in the 2100 MHz spectrum, which made it possible to eliminate the problem of “torn” spectrum, said Olga Ustinova, CEO of the company.
“We have completed the exchange of frequencies,” Ustinova said on the sidelines of the ‘SuperHumans’ forum organized by Forbes.
“Vodafone Ukraine and Kyivstar started the exchange of frequencies in late January, with Dnipropetrovs’k region being the last to be exchanged. As a result, the companies were able to form continuous 2X20 MHz bands in the 2100 MHz band, which allowed them to reduce costs through more efficient use of the resource and speed up data transmission.
“Kyivstar acquired a license for the use of additional radio frequency spectrum in the 2100 MHz band (3G and 4G tech-neutral) at an auction held by the National Commission for the State Regulation of Electronic Communications, Radio Frequency Spectrum and Postal Services (NCCS) on November 19, 2024. The acquired frequency band was not adjacent to the company’s existing one, so the company initiated the exchange process.
At its meeting on January 15, the NCCIR approved the exchange of frequencies in the 2100 MHz spectrum between Kyivstar and Vodafone Ukraine.
State-owned Oschadbank (Kyiv) earned UAH 4.8 billion in net profit in the first quarter of 2025, keeping the result at the level of the previous year, while net interest income increased by 39%, according to a press release from the financial institution.
“The current profit is driven by operating activities and was achieved through the efforts of the bank’s team aimed at continuing business growth. In response to the challenges posed by rising inflation, Oschad is actively improving its cost control mechanisms,” Oschadbank Chairman of the Board Serhiy Naumov commented on the results.
It is noted that in the first quarter of 2025, net interest income amounted to about UAH 7.4 billion, which is 39% or UAH 2 billion more than in the first quarter of 2024, while Oschadbank’s operating profit for this period amounted to almost UAH 5 billion.
“Currently, Oschadbank has sufficient liquidity and capital. Thus, the regulatory capital adequacy ratio of Oschadbank as of April 1, 2025 is 13.10%, which is significantly higher than the current NBU regulatory value of 9.25%,” the bank said.
According to the National Bank of Ukraine, as of the beginning of 2025, Oschadbank ranked second in terms of total assets (UAH 963.39 billion, or 12.4%) among 61 banks in the country.
The bank’s net profit for 2024 amounted to UAH 7.9 billion, compared to UAH 6 billion in 2023, while operating profit increased by 20% to more than UAH 14 billion.
