More than 2,600 companies have been founded by foreigners in Ukraine since the beginning of the full-scale invasion. Citizens of Turkey, Uzbekistan, Poland, and the United States are the most frequent business owners in Ukraine.
2652 companies have been opened by foreigners in Ukraine since the start of the full-scale war. In total, citizens from 100 countries invested in the country during the war.
Among all foreign businessmen, Turkish citizens were the most likely to open a business in Ukraine. Residents of the republic are listed as owners in 354 Ukrainian companies. This is 13% of the total number of new businesses with foreign beneficial owners.
Uzbek citizens are owners of 274 new Ukrainian companies and occupy the second position in the rating. This is 10% of the total number. Polish citizens round out the top three with 193 businesses, or 7% of the total number of companies with foreign owners opened after 2022.
The top list also includes citizens of the United States, Kazakhstan, Germany, Azerbaijan, and Israel. It is worth noting that one company may have more than 1 owner.
The largest business opened by foreigners since the start of full-scale operations is TENS1MA LLC with an authorized capital of UAH 1.28 billion. The owner of the business is an Armenian citizen.
The second place is taken by JSC Closed Non-Diversified Venture Corporate Investment Fund Jugen. The authorized capital of this company is UAH 700 million, and the ultimate owner is a US citizen.
LFS LLC with an authorized capital of UAH 300 million, owned by a Polish citizen, rounds out the top three.
“Poninkivska Cardboard and Paper Mill-Ukraine (PCPM-Ukraine, Khmelnytsky region), a major Ukrainian corrugated cardboard producer, increased its corrugated packaging output by 21.2% in January-April 2024 compared to the same period in 2023, to 30.5 million square meters.
According to Ukrpapir Association statistics provided to Interfax-Ukraine, the mill is now one of the top three producers of corrugated packaging after Kyiv Cardboard and Paper Mill and Trypillia Packaging Mill.
Over four months, the plant also increased production of containerboard by 11% to 24.4 thousand tons, and produced 0.33 thousand tons of paper against 0.21 thousand tons a year earlier.
In monetary terms, in January-April, PCBF-Ukraine produced UAH 838.3 million worth of products, up 13.2%.
As reported with reference to the data collected by the association from the main enterprises of the industry, in January-April 2024, the production of paper and cardboard in Ukraine increased by 6.5% compared to the same period in 2023 – up to 189.7 thousand tons, cardboard boxes – by 21.7%, to 187.4 million square meters.
Poninkivska Paper Mill (formerly Poninkiv Cardboard and Paper Mill), once the largest producer of school notebooks, now has one main production line – paper and cardboard, producing mainly corrugated cardboard and corrugated packaging, as well as wrapping and waste paper.
The plant is part of the United Cardboard Company-Ukraine (UCC, Lutsk) owned by businessman Mykola Lobov, whose production assets include, among others, Lutsk KBF-Ukraine (Volyn region), which produced 21.2 thousand tons of various cardboard (21.8% more) and 14.8 million square meters of corrugated boxes in four months (according to Ukrpapir).
As reported, in 2023, PCBF-Ukraine produced products worth almost UAH 2 billion 450 million, up 3% year-on-year.
On May 15, the state enterprise Delta-Lotsman (Mykolaiv) announced a tender for voluntary insurance of liability to third parties for maritime accidents caused by the fault of marine pilots, pilot-operators of the insured’s vessel traffic control service in the performance of their official duties.
According to the electronic public procurement system ProZorro, the expected cost of the service is UAH 1.171 million. The tender security is an electronic guarantee of UAH 35 thousand.
The deadline for submission of bids is May 24.
SE “Delta Pilot” was established by order of the Ministry of Transport of Ukraine in 1998 in order to improve conditions for ensuring safety of navigation, protection of human life at sea and the environment, in the territorial sea of Ukraine in accordance with the requirements of international agreements and conventions, streamlining the structure of marine pilot services in the north-western part of the Black Sea.
The National Bank of Ukraine has decided to apply to PJSC Insurance Company Salamandra (Kiev) a measure of influence in the form of revocation of all licenses, according to the regulator’s website.
Also, in compliance with the requirements of the law “On Insurance”, in connection with the presence of the company’s obligations under insurance (reinsurance, coinsurance) contracts on May 14, 2024 decided to appoint a temporary administration in PJSC “IC “Salamandra” and removal of the governing bodies from the management of the company.
These decisions have been taken according to the results of planned inspection, conducted in October-December 2023, during which it was established the fact of realization by IC of risk activity, threatening the interests of creditors and insurers, namely formation of insurance reserves in insufficient amount (more than 10% of their sufficient amount, determined by the legislation of Ukraine) three times during the calendar year.
The decision on application of the measure of influence came into force on May 14, 2024.
After taking this decision, the temporary administrator should immediately begin to fulfill his duties, is noted in the message.
IC “Salamandra” (formerly – “DIM Insurance”) is part of the eponymous non-banking financial group, the ultimate beneficiary and owner of which is Yuri Yavtushenko.
IC Salamandra is a member of the Motor (Transport) Insurance Bureau of Ukraine.
Number of unemployed in Ukraine and job opportunities, 2023-2024
Source: Open4Business.com.ua and experts.news
On Wednesday, the Polish Parliament adopted amendments to the law on assistance to Ukrainian citizens, which, in particular, provide for the extension of the legal stay of Ukrainians in the country, according to the website of the Polish channel RFT24.
“The adoption of these amendments was recommended by the parliamentary committee on administration and internal affairs. In accordance with the committee’s recommendation, the MPs rejected a number of Confederation amendments and the PiS amendment. The adopted amendments relate to the extension by four months of the deadline for filing applications for the right to practice the profession of doctor, dentist, nurse and midwife, as well as the recognition of certificates from citizens of a country that has terminated the international agreement on their mutual recognition,” the statement said.
The amendment to the Law on Assistance to Citizens of Ukraine provides, among other things, for the extension of the legal stay for Ukrainians who have been assigned a Ukr Pesel number until September 30, 2025, the preservation of payments for the next year and compulsory school education for Ukrainian children. The law also introduces new rules for confirming the identity of a Ukrainian citizen applying for a Pesel number. The only way to prove your identity is to present a valid travel document.
The amendment also specifies a maximum 36-month period during which students can attend additional free Polish language lessons. The decision will apply to students who started attending classes in 2022/23 and 2023/24. The resolution also expands access to medical, family and social benefits, allowances and the possibility of living in collective accommodation.
“The resolution also stipulates that starting from July 1, funding for accommodation and meals for refugees from Ukraine in a particularly difficult situation will be possible only on the basis of a signed agreement with a local voivode or a local government body acting on the basis of a voivode’s order. The rules for participation in the costs of accommodation and meals in collective centers will also change, making the payment of the subsidies due more efficient than now,” the statement said.
The law also provides for the abolition of benefits related to the compensation of refugees’ accommodation and food costs incurred by owners of private premises. As of July 1, the payment of one-time cash benefits in the amount of 300 zlotys will also be discontinued.
During the committee meeting, Deputy Minister of Education Ioanna Mukha noted that the amendment is related to the recent suspension in Belarus of issuing documents confirming the passing of the final exam to its citizens abroad. She said that refugees from Belarus cannot study in Poland without a high school diploma. She added that about five thousand Belarusian citizens are in this situation, but this may also apply to citizens of other countries.
The law, with the exception of some provisions, will come into force on July 1. It will now be discussed by the Senate (the upper house of the Polish parliament).
