Business news from Ukraine


Together with Andrii Dligach, a futurist, and Vlad Mikhnenko, Oxford’s Associate Professor, CEOs of the major Odessa-based companies have released an economic business vision of the city. Its presentation will take place on September, 17 as part of the Odessa Business Forum.
The Club’s Mission is to promote a positive image of Odessa in Ukraine and worldwide, to make a statement as a city built for life, investments, and doing business.
The Odessa Region Economic Strategy 2050 outlines the priorities in such sectors as investments, exports, industrial development, transport and logistics, tourism, culture, and entertainment.
The Odessa Business Forum is a standing platform and an annual event. Its key objective is to present mid-term and short-term plans to implement the main vectors of the economic strategy, to summarize and compare results, and to update its aims and purposes.
Dmytro Kazavchynskii, the Co-founder of the Odessa Business Club, emphasizes: “Loving Odessa in words alone is not enough. We need to do something for our beloved city.”
This was the commitment taken when the Economic Business Vision of the Odessa Region 2050 was created.
Speakers that support the OBF:
● Vlad Mikhnenko, Candidate of Science, Associate Professor of sustainable urban development, researcher at St. Peter’s College at Oxford University
● Karl-Filip Coenegrachts, strategist and innovator from Ghent (Belgium), creator of an alternative vision and concepts for Smart Cities and Cities of People
● Andrii Dlygach, Founder and CEO of Advanter Group; Doctor of Economics, strategist, futurologist; Expert in shaping business breakthrough strategies; Member of the Boards of Directors at the Digital Transformation Institute and SingularityU Kyiv; CEO, Luniter troubleshooting; Professor at the KSE Business School; Co-founder of the Board business community
● Cees Donkers, Urban designer at City as a LAB, one of the key founders of Dutch Design Week. Eindhoven’s chief urbanist
● Valeria Ionan, Deputy Minister of Digital Transformation for European Integration since 2019. Responsible for the national projects Diia.Business and Diia.Digital Education, online security and European integration
● Dmytro Kazavchinsky, Co-founder of Odessa Business Club and GST Company
● Andreas Flodstrom Co-founder and CEO at Beetroot and Beetroot Academy, Ukrainian-Swedish companies
● Andrii Zdesenko, Founder and CEO of Biosphere Corporation, owner of Charisma Fashion Group and co-founder of the Ukrainian restaurant chain Vapiano, Co-founder of the Inspira business club in the city of Dnipro
● Oleksandr Bornyakov, Deputy Minister of Digital Transformation for IT Development. Co-founder of IT-Cluster Odessa
● Maxim Bakhmatov (Moderator), founder and Head of the Office of Transformation, Managing Partner of UNIT.City, innovator, businessman, entrepreneur, ex-CEO of VDNKh (National Exhibition and Cultural Center based in Kyiv)
…and more.
The host of the first Odessa Business Forum will be a Ukrainian marketer, founder of Fedoriv Group Andrii Fedoriv.
We are open to cooperation with everyone who cares about Odessa and the positive image of Ukraine abroad.
PIC: Ms Kateryna Voronova, Coordinator of Media Partners Relations
Tel.: +38 067 740 24 89
Open4business is a media partner.


2nd July 2021, marks 121st birth anniversary of Muhammad Asad. Не was bоrn as Leopold Weiss in Lviv Ukraine and rose to fame as а journalist, traveler, writer, linguist, political theorist, diplomat аn Islamic scholar and most importantly as а worker of Pakistan Movement.
During his life time Asad was known bу many titles, early in Аrаbiа he was called the “Leopold of Агаbiа, in likeness to ‘Lawerence of Агаbiа’. In Pakistan he was titled bу people as Allama (а scholar). Не is recognized as а religious bridge builder, а mediator between Islam and the West and Europe’s Gift to Islam.
Muhammad Asad, а writer and Islamic Scholar wrote his magnum opus “The Message of the Quran” (1980). Аn English translation and commentary of the Quran which he published after seventeen years of painstaking scholarly research. It is regarded as оnе of the most influential translations of the modern еrа. Earlier his autobiography “The Road to Месса” (1954) became а best seller. His other literary works include, Islam at Cross Roads (1934), Translation of Sahih AI Bukhari: The Early Years of Islam (1981 ), The Law of Ours and other Essays (1987) and Home Coming of the Heart which is regarded as part 11 of The Road to Месса’.
Lviv in early 1900’s was part of Austro-Hungarian Empire and was known as Galicia. Today it is befittingly recognized as the cultural capital of Ukraine. Leopold Weiss was bоrn in Lviv to а Jewish family and after his schooling he traveled to Middle East. Не converted to Islam in Аrаbia in 1926 and adopted the name Muhammad Asad. Indeed he had taken the Road to Месса very early in his life.
In early 1930’s Asad travelled to Sub Continent where met Allama lqbal, а world renowned islamic philosopher and thinker who envisioned Pakistan as home for Muslims of Sub Continent. Allama Iqbal asked him to elucidate the intellectual premises of the future Islamic state and help achieve it as well. His book ‘The Principles of State and Government in Islam’ (1961) describes а democratic political system which is grounded in Islamic principles.
Allama Iqbal also encouraged Asad to translate Sahih AI-Bukhari in English for the first time in history. Asad in order to find а serene place to stimulate his intellectual and spiritual thought, travelled to Kashmir during the summer of 1934. There he became friends with Mirwaiz Muhammad Yusuf. While working enthusiastically оn his translation, he also set up а printing press in Srinagar. First two chapters of his translation were printed in Srinagar. Asad in his book Home-coming of the Heart mentions about his special relationship with Kashmir.
During WWII Asad was imprisoned bу the British but after this, he continued to work as а dedicated worker of Pakistan Movement. Оn creation of Pakistan оп 14 August 1947 he adopted Pakistan as his home and was honoured with citizenship of Pakistan. Не was first appointed Director of Department of Islamic Reconstruction and then he joined Ministry of Foreign Affairs Pakistan where he served as deputy secretary to Middle East and then Pakistan’s Envoy to United Nations. Asad Platz in UN Square Vienna is dedicated to honour is services. Оn 23 March 2013 Pakistan Post issued а postage stamp under the ‘Меn of Letters’ series to recognize his literary works and Islamic Culture Centre has dedicated centre in Lviv in his name.
То inform people of Pakistan and Ukraine about the numerous contributions of Muhammad Asad, Pakistan Embassy in coordination with Islamic Centre Kyiv will launch Ukrainian translation of his book ‘Тhе Unromantic Orient’ during Kyiv book festival. In concert with State Administrator we will initiate work to place а plaque at his birth place, erect his bust at а suitable location and nаmе а location in Lviv and Kyiv after Muhammad Asad. The Embassy in coordination with Ministry of Foreign Affairs Ukraine plans to hold а reference event in Kyiv and has approached National Book Foundation Pakistan to furnish а complete set of publications of Muhammad Asad for placing in the libraries in Ukraine. We have also invited the universities in Ukraine and Pakistan to sponsor joint research to document Asad’s numerous accomplishments and most importantly to explore his ideas as аn Islamic Scholar for benefit of humanity. Muhammad Asad continues to act as а bridge between Islam and Europe and most importantly between Pakistan and Ukraine. Its because of Muhammad Asad that Ukraine саn claim that it effectively contributed towards making of Pakistan.
Dr Noel I. Khokhar


Kyiv Open Cup in taekwondo (WT) “Kyiv Open Cup” will be held on May 22-23 in the Sports Complex NTUU «KPI», building 24 (National Technical University of Ukraine «Igor Sikorsky Kyiv Polytechnic Institute», Kyiv, Verkhneklyuchevaya st., 1/26)

Up to 300 athletes from all over Ukraine and sports delegations from Moldova and Armenia are expected. Organizers guarantee compliance with all safety regulations in accordance with the requirements of the adaptive quarantine.

An online broadcast for viewers and fans will take place on the Xsport Youtube channel at the link:

Competitions are going to be held in the Kyorugi and Poomsae sections. Athletes in 6 age categories from the ages of 6 to 30+ years old will compete for victory:

  • children (born in 2014-2013), sports qualifications is not lower than 10th Kup,
  • junior youth (born in 2012-2011), sports qualification is not lower than 9th Kup,
  • youth (born in 2010-2009), sports qualification not lower than 8th Kup,
  • cadets (born 2007-2005), sports qualification not lower than 7th Kup,
  • juniors (born in 2004-2002), sports qualification not lower than 6th Kup,
  • adults (born in 2003 and earlier), sports qualifications not lower than 5th Kup.

Registration for the tournament will be carried out on the website

Separate broadcasts are going to be organized on the official page of the Kiev Taekwondo (WTF) Federation on Facebook

The main purpose of the tournament is to popularize taekwondo as an Olympic sport and its philosophy, as well as to educate the comprehensive harmonious development and physical improvement of children and youth.

The event organizers: Public Organization “Kyiv Taekwondo (WTF) Federation”, Department of Youth and Sports of the executive body of the Kyiv City Council (Kyiv City State Administration).

E-mail of the tournament organizers:

For reference

The Kyiv Open taekwondo tournament began its history in 2013. During its existence, more than 1200 athletes from all regions of Ukraine, as well as Armenia, Azerbaijan, Moldova and Belarus took part in the competition.

Over the years, the tournament was attended by the President of the National Olympic Committee Sergey Bubka, the Ambassador of the Republic of Korea Kim Eun-Joong (2013) and the consuls of the Embassy of the Republic of Korea in Ukraine, the President of Samsung Ukraine, representatives of the Kyiv City State Administration, the head coaches of the Spanish Taekwondo Federation.


The women’s golf tournament was held on May 9 at the Golfstream Golf Club. Despite the changeable weather and cold – the competition took place.
Now in Ukraine, 33% of all golfers are women. This number is constantly growing, because at each stage of the competition more and more members of ladies are joining.
Opening the tournament, the director of the Open Ladies Golf Tour and the vice-president of the Federation, Olena Rudik, emphasized that 210 years ago the first tournament among women in the world took place! At that time, even the director of the Old Course in Scotland did not believe in the strength and endurance of the ladies, when he was approached by women with a request to hold a competition.
“Of course you can try, but I think it will be the first and last women’s tournament, because golf is a game in any weather, I don’t think you will pass through it.” replied the director of the Old Course in Scotland.
More than 200 years have passed since then, and women are not only still playing golf, but also moving the sport forward at a rapid pace.

According to the results of the Open Ladies Golf Tour, the winners and prize-winners of the second stage are:
Chamberlain Course (Group A)
1st place – Moiseeva Anna
2nd place – Tsvigun Kateryna
3rd place – Kostyrko Olena
Premiere Course (Group B)
1st place – Odarchenko Kateryna
2nd place – Kushch Larysa
3rd place – Shidlyk Olena
Best Gross – Moiseeva Anna
Best Junior – Rastvortseva Elizaveta
In a special nomination of the automotive partner of the Porsche brand tournament won:
Longest Drive Chamberlain – Fedorova Zlata
Longest Drive Premiere – Kushch Larysa
The Ukrainian Golf Federation is grateful to all partners for their support: Porsche car brand, Golfstream golf club, HeliTour Ukraine – helicopter company, Gril Do Brasil restaurant, ZAPASHNA brand, Premier Palace Wellness Center. We are grateful to the water partner of the event – Vittel, as well as to the partner CosmosGolf.
We remind you that the Open Ladies Golf Tour is an annual series of competitions held in various golf clubs in Ukraine and abroad. The next tournament will take place on June 5 at Kozyn Golf Club.


The updated stylistics represents the evolution of the brand identity and is optimized for working in the digital environment

Foundation of the Ukrainian entrepreneur Vasyl Khmelnytsky K.FUND, which develops a number of social initiatives in Ukraine, announces rebranding.

Сhanges in the visual style of the foundation demonstrate evolution of the brand identity and reflect organization’s desire to take a more active part in the implementation of projects for the youth. The updated design is optimized for working in digital environment.

Each area of the foundation’s activities now has its own special color. Brand’s life-affirming compositions with a bright background energize and emphasize creative essence of the foundation’s activities.

“K.FUND was established more than five years back. Visual brand constants were set in a classic, rather conservative style. It fulfilled its function at the initial stage of the company development. The key task of the foundation is to help young people, first of all, unleash their potential in Ukraine. The new modern style of K.FUND puts the brand in the coordinate system of this audience,” commented Dmytro Zverev, Chief Reputation Officer  at UFuture Holding Company, Vice President of K.FUND.

More details about the updated visual style can be found on the foundation’s website.


The K.FUND foundation was established by a Ukrainian entrepreneur Vasyl Khmelnytsky in 2015 to support projects in education and economics. K.FUND’s mission is to provide keys for development and realization as well as opportunities for acquiring new knowledge and skills, assist discoveries, and help reach a new level.


Nebras Power and UDP Renewables announce a strategic partnership

Qatari-based global power investment company with assets around world
is investing in Ukrainian renewable energy sector

UDP Renewables, a UFuture’s portfolio company, opens Ukraine for an international power investment company based in Doha, Qatar — Nebras Power. The parties agreed on a strategic partnership and signed a number of contracts.

According to the agreements, Nebras Power assumes a controlling stake in six companies operating UDPR’s photovoltaic solar power plants, namely: “Scythia-Solar-1”, “Scythia-Solar-2”, “Free-Energy Genichesk”, “Port-Solar”, “Terslav” and “Sun Power Pervomaisk”.

This SPA signifies a fruitful conclusion of the two-year negotiations on cooperation with Nebras Power — it’s a long-awaited victory and a great honour for us. We are happy to be opening opportunities in the Ukrainian market for a noted global power investment company and are proud to become its reliable partner. I am confident that together we will be able to make our planet cleaner and greener for future generations,” Sergiy Yevtushenko, Managing Partner of UDP Renewables, said.

Nebras Power is an active international player in the global power market. The company invests in the development of clean energy the world over and currently has assets based in the Middle East & North Africa, Asia, Australia, Latin America and Europe. These assets have been developed to meet the growing demands for power. Nebras Power is one of the first players from the Middle East to enter into a long-term strategic partnership with Ukraine.

For Nebras, Ukraine represents not only a rich and dynamic new market but also symbolizes the success of our global growth strategy, which endeavours to identify and invest in robust power projects in both developed and emerging economies.  By leveraging this approach, we can deliver clean and reliable power to communities, while endowing those countries, such as Ukraine, with the means to meet their clean and green energy targets,” said Khalid M Jolo, CEO of Nebras Power.

Nebras Power’s Chairman Mohammed Nasser Al-Hajri, echoed Mr. Jolo’s vision on the importance of the agreement and the company’s foray into Ukraine: “The partial acquisition of six solar projects in Ukraine will further add to and complement our expanding international portfolio mix. Furthermore, our partnership with UDPR communicates Nebras’s expertise and ability to invest in and furnish projects that will affect positive changes in those diverse international power markets where we invest. As we move forwards, we look ahead to a prosperous and long-lasting relationship with UDPR and Ukraine,” Mr. Al-Hajri said.

This cooperation between the two companies will contribute to the development of an innovative economy and the preservation of the environment. The next stage of the partnership envisages joint development of wind power generation projects by Nebras Power and UDP Renewables.

The collaboration will add to Nebras Power’s impressive portfolio of sustainable strategic investments in power, water and renewables globally.  For UDPR, the partnership will expand the share of clean energy in Ukraine’s energy balance, improve the country’s global competitiveness, and help reduce its carbon footprint.

By 2023 we will add more to Ukraine’s green energy capacity, thus improving both our country’s environment and its global economic competitiveness. Thanks to Nebras Power’s investments we will be producing more than 700 GW*h of clean electricity per year, enough to power 310,000 average houses,” Nicholas Tymoshchuk, CEO of UFuture said.


UDP Renewables is an investment and development company in the field of renewable energy. By diversifying the resources and location of its facilities, UDP Renewables plans to become one of the largest producers of clean energy in Ukraine by 2022 with a total capacity of more than 300 MW.

UFuture is a holding company of Ukrainian entrepreneur Vasyl Khmelnytsky, which has a diversified portfolio of assets in real estate, infrastructure, industry, renewable energy, pharmaceuticals and IT. Currently, UFuture is a strategic investor in UDP Renewables. UFuture’s assets are estimated at $500 million, and the total capitalization of the businesses it invested in is up to $1 billion.

Nebras Power Investment Management B.V. (“NPIM”) is a wholly owned subsidiary of Nebras Power Q.P.S.C., incorporated in the Netherlands and is operating since 2016. NPIM is the international investment management platform of Nebras Power Q.P.S.C. Its mandate is to own, develop and invest, in greenfield developments and brownfield projects, in the sectors of power and water, in the Netherlands and internationally.