Business news from Ukraine

Business news from Ukraine

PRESIDENT OF UKRAINE ZELENSKY SELLS RIGHTS TO ALL ENTERPRISES IN UKRAINE TO SERHIY SHEFIR

In 2019, the family of President of Ukraine Volodymyr Zelensky sold the UAH 246,144 worth corporate rights to all 12 Ukrainian enterprises to the family of first assistant to the head of state Serhiy Shefir.
“In the spring of 2019, Volodymyr Zelensky got rid of the shares in Green Family Ltd, as well as all four brand names registered in the Russian Federation. He also got rid of corporate rights to Vilhar Holdings Limited and Aldorante Limited foreign companies,” the president’s press service said on Saturday, May 30.
Zelensky continues to be the owner of a large number of trademarks. Thus, in 2019, two Sluha Narodu trademarks (the Servant of the People) were registered in his name.
PricewaterhouseCoopers (PwC) evaluated several trademarks in 2019. According to its report, the cost of Vechirniy Kvartal (Evening Quarter) brand name was UAH 45.81 million. The cost of Rozsmishy Komika (Make Comedian Laugh) brand name was UAH 14.65 million.
“Based on the assessment, Volodymyr Zelensky received royalties from the use of the brand names in the amount of UAH 5.048 million, so his income increased compared to the previous year,” the president’s press service said.
Some UAH 567,875 was spent to pay for consulting services of PwC.
According to the declaration of the presidential candidate of Ukraine submitted by Zelensky in January 2019, at that time he owned 99.99% of the corporate rights to Studio Kvartal-95 LLC (another 0.01% was owned by Olena Zelenska), some 18% to Studio Kvartal-95 LLC, some 100% of the corporate rights to Kinokvartal LLC, some 18.75% to Kvartal-Concert LLC, some 12.5% to Kvartal TV LLC, some 16.7% to producer center Liha Smihu LLC, and some 22.5% to Animation Studio-95 LLC.
He also owned 12.5% of Invest-Anima LLC, some 13% of Gaudi Studio LLC, and some 15% of Fish House LLC (restaurant business).
Olena Zelenska owned another 25% of Zelari Fish LLC (processing and preserving, trade in fish, crustaceans and mollusks).
Zelensky was the ultimate beneficial owner of Kinokvartal LLC, Studio Kvartal-95 LLC, Aldorante Limited (Cyprus), Vilhar Holdings Limited (Cyprus), Film Heritage Inc. (Belize), San Tommaso S.R.L. (Italy), and Megiritano Ventures Ltd (British Virgin Islands).
Olena Zelenska was the ultimate beneficiary of Studio Kvartal-95 LLC, Zelari Fish LLC, Aldorante Limited (Cyprus), Film Heritage Inc. (Belize), and San Tommaso S.R.L. (Italy).
Since 2012 Zelensky had been a shareholder of Megiritano Ventures Ltd (British Virgin Islands) and, together with his wife, they were shareholders of Aldorante Limited (Cyprus), since 2008, he had been a shareholder of Vilhar Holdings Limited (Cyprus).
Later he also filled the declaration with information that since May 28, 2012 he had been a shareholder of Green Family Ltd (Nicosia, Cyprus), which at that time owned the Russian company Green Films. There was information on January 24, 2019 that Zelensky withdrew from Green Family Ltd.

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ZELENSKY AND CROWN PRINCE OF ABU DHABI DISCUSS COOPERATION

President of Ukraine Volodymyr Zelensky and Crown Prince of the Emirate of Abu Dhabi of the United Arab Emirates Sheikh Mohammed bin Zayed Al Nahyan have discussed the prospects for trade, economic and investment cooperation, in particular, in the field of agriculture, development of road and medical infrastructure in Ukraine.
“The coronavirus should not destroy international trade and economic ties between the countries. For Ukraine, the development of infrastructure is critical – above all, modern hospitals and high-quality roads. After the coronavirus, life will continue, and we can plan investments now,” the Ukrainian president said.

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AIPM UKRAINE ASKING ZELENSKY TO ORGANIZE GREEN ROUTE AT CUSTOMS CHECKPOINTS TO SPEED UP SUPPLIES

The association of international pharmaceutical manufacturers AIPM Ukraine has asked Ukrainian President Volodymyr Zelensky to organize a Green Route at customs checkpoints to speed up supplies of medicines in the conditions of panic of the population rushing to buy medicines over the spread of the coronavirus disease COVID-19.
“Manufacturers and importers of medicines, under the current conditions, are trying to meet the demand in full for the appropriate medicines,” the association said in a letter sent to the president.
AIPM Ukraine said that, according to information available from AIPM Ukraine member companies, queues at customs, in particular at the Yahodyn customs post, lead to a significant slowdown in the supply of necessary medicines.
“We ask you to contribute to solving this problem and ensure priority customs clearance of medicines by introducing an official” green corridor “for these categories of goods, as has already been done in the European Union in accordance with the recommendations of the European Commission,” AIPM Ukraine asked President Zelensky .
The association also pointed out the need to establish working interaction on this issue with the customs authorities of neighboring countries, such as Poland, to ensure a similar priority for the customs clearance of medicines at their customs posts to ensure imports to Ukraine.

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PRESIDENT VOLODYMYR ZELENSKY CALLS ON INTERNATIONAL PARTNERS TO INVEST INTO DONBAS RESTORATION

President Volodymyr Zelensky called on Ukraine’s international partners and business representatives to become involved in the implementation of infrastructure and social projects in the Donetsk and Luhansk regions affected by the armed conflict. During his speech at the Ukrainian Lunch in Munich, the head of state said that a global fund had been created to restore the Donbas infrastructure in Ukraine.
“It combines two ‘windows’. The first is for international partners, organizations and foundations. The second is for the Ukrainian fund, which will attract funds from the private sector and individual donors,” the head of state said.
According to the president, the key priorities of the fund are large infrastructure projects, work with local business and its affordable crediting, care for the least protected groups of the population, overcoming the consequences of the war – with a focus on youth, women, children and veterans.
“For the first time such a fund is administered jointly by the World Bank, the Office of the President and the Government of Ukraine,” Zelensky stressed.
In addition, the head of state told about the plans to establish the Ministry of Reintegration and Restoration of Donbas.
“I urge our international partners to join and start fundraising for the reconstruction and reintegration of Donbas together with me,” the president summarized.

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PRESIDENT OF UKRAINE ZELENSKY: ‘EVERYTHING IS FINE’ IN RELATIONS WITH U.S.

President of Ukraine Volodymyr Zelensky believes that economic and geopolitical relations between Ukraine and the United States are at a good level, and they need to be improved without getting involved in internal political processes. “For me, good relations with the United States, which were different at different times, were important. I believe that the elections [in the United States] is a purely political issue, and certainly not the issue of Ukraine, but of the United States. Their president, their people, choose whom you want, we will support your choice,” he said in an interview with Israeli Channel 9.
Zelensky noted that when “some kind of story” began to develop after his telephone conversation with U.S. President Donald Trump in September, he did everything possible to prevent Ukraine from being drawn into this political issue.
“Because only economic and geopolitical relations are important between the countries that respect each other, regardless of nationality, religion, breadth, importance, availability of nuclear weapons. And I believe that in these two areas, economics and geopolitics, everything is good in our relations with the United States. This “everything is normal” needs to be improved, but certainly not worsened,” he stressed.

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PRESIDENT OF UKRAINE VOLODYMYR ZELENSKY HAS SIGNED A LAW ON SETTLING THE ISSUE OF AMBER PRODUCTION, WHICH THE VERKHOVNA RADA ADOPTED ON DECEMBER 19

According to information on the website of the Verkhovna Rada of Ukraine, on December 27 the document was returned with the signature of the president.
As reported, the Verkhovna Rada adopted as a whole bill No. 2240 on settling the issue of amber extraction, which provides for the introduction of uniform exploration permits with the right to produce amber for a period of five years on plots of up to 10 hectares through ProZorro electronic auctions.
This decision was supported by 279 MPs with the quorum being 226 votes.
According to the bill, access to amber deposits will be regulated by establishing the right of land easements and defining separate Article 971 of the Land Code for exploration and mining on disturbed lands.
In addition, the document introduces criminal liability for illegal mining and administrative liability for violation of mining requirements, as well as toughens liability for non-compliance with land reclamation requirements and the obligation to compensate for losses incurred.

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