Open4Business is a platform created to help foreign businesses to search for opportunities and expand to Ukrainian market.
The platform and related organizations provide a holistic set of services needed to successfully penetrate the Ukrainian starting from establishing foreign trade relations with local companies and up to establishing a subsidiary or acquiring a company in Ukraine.
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The List of Main Services:
– Market information and market intelligence
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– Legal advisory services including licencing and certification, etc. (together with associated companies).
The Swiss Embassy in Ukraine recalled that seven years ago the Swiss Federal Council decided to freeze all assets of ex-President of Ukraine Viktor Yanukovych and his entourage in the country.
“In taking this measure, the Swiss Government wished to avoid any risk of misappropriation of Ukrainian state assets. Since then, Swiss authorities have been closely cooperating with their Ukrainian counterparts in order to complete the process of restitution of these assets to the Ukrainian people following court rulings on their illicit origin,” it said on Twitter.
The Embassy also reminded that the maximum duration of such a freeze is limited to 10 years.
National bank of Ukraine’s official rates as of 01/03/21
Source: National Bank of Ukraine
Foreign Minister of Ukraine Dmytro Kuleba during his working visit to France held a meeting of the business council with representatives of large and medium-sized French businesses, the press service of the ministry reports.
“In subsequent years, huge opportunities open up in Ukraine, in particular in the areas of construction, infrastructure and energy. The president of Ukraine and the government are committed to a large-scale renewal of Ukrainian infrastructure in order to create qualitatively new opportunities for the development of our country and international trade,” Kuleba said and invited French business to take part in two of the most attractive investment areas, namely the Big Construction program of President of Ukraine Volodymyr Zelensky and large privatization.
Kuleba also clarified that this primarily concerns the construction and concession of roads and bridges, concession and privatization of ports, modernization of border infrastructure, projects for the electrification of public transport, the development of water supply systems, waste treatment, etc.
“This cooperation is not only beneficial, but has an important political significance for strengthening ties between Ukraine and France,” the minister stressed.
In addition, the parties paid special attention to the energy sector. Kuleba emphasized the potential of green hydrogen production in Ukraine and the synchronization of our state with the course of the European Green Deal, which opens up new opportunities in the field of renewable energy.
The minister also drew attention to the achievements of Ukraine in deregulation and simplification of doing business, the adoption and successful implementation of the new law on concessions, the harmonization of Ukrainian legislation with the norms of the European Union. In addition, Kuleba recalled that the Council of Exporters and Investors constantly operates under the Foreign Ministry of Ukraine, which helps investors find new opportunities.
It is noted that the top managers of a number of companies that are already working or are interested in implementing business projects in Ukraine took part in the council: Airbus, Air Liquide, Alstom, Crédit Agricole, Egis, RTE International, TOTAL Eren, Tryba Energy and others. The co-organizer is MEDEF International (Movement of Enterprises of France), which helps French companies establish international cooperation.
Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B’ with a stable outlook, the agency said on its website.
“Ukraine’s ‘B’ IDRs reflect its track record of multilateral support and a credible macroeconomic policy framework that has underpinned a relatively high degree of resilience to the coronavirus shock. Ukraine’s human development indicators compare favorably with the peer group, it has a net external creditor position of close to 13% of GDP, and general government debt is somewhat lower than the ‘B’ median. Set against these factors are weak governance indicators, a high degree of legislative and judicial risk to policy implementation, and low external liquidity relative to a large sovereign external debt service requirement,” the report says.
“The stable outlook reflects expectations for gradual fiscal consolidation and continuation of macroeconomic policies that helped preserve broad stability in external finances during last year’s shock. The ability to issue eurobonds and available domestic liquidity has provided some limited space to manage a delay over the next six months in completing the first review of the IMF Stand-By Arrangement (SBA). The coronavirus shock temporarily reversed improvements made in recent years in terms of a declining debt burden and normalization of growth prospects after the 2014-2015 geopolitical and economic crises. At the same time, the political position of the administration has weakened somewhat and recent Constitutional Court policy reversals further underline the risks to SBA compliance, which constrain the rating,” according to the document.
