Business news from Ukraine


The transport companies of Ukraine in January-May 2019 reduced passenger traffic by 5.9% compared with January-April 2018, to 1.796 billion people, the State Statistics Service has reported.
According to its data, passenger turnover over the period amounted to 42 billion passenger-kilometers, which is 4.3% more than a year ago.
According to the State Statistics Service, in January-May 2019, 63.1 million passengers were carried by rail (including the city train), which is 0.1% less than in January-May 2018, and 761.8 million passengers by road (5.6% less).
Airlines raised passenger traffic by 10.6%, to 4.6 million people.
In addition, according to the State Statistics Service, in January-May 2019 some 262.5 million passengers used trams (a decrease of 9.6% compared with January-May 2018), subways carried 298.6 million (a decrease of 1.2%), while trolleybuses 405.7 million (a fall of 8.4%).
Transportation of passengers by water transport grew by 3.3%, to 0.1 million.
According to the State Statistics Service, the data is provided excluding the temporarily occupied territory of Crimea and Sevastopol, as well as part of temporarily occupied Donetsk and Luhansk regions.

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The American Chamber of Commerce in Ukraine represents the biggest investors and largest multinationals operating in Ukraine which contribute greatly to the state budget and create jobs at home. In April 2019, the following companies joined AmCham Ukraine family:
Burda Ukraine
The Burda Media Company is a subsidiary of the international concern Hubert Burda Media and owns more than 45 brands with a total coverage of 4 million in print and 2.5 million online. Among them are “Marie Claire”, “Playboy”, “Lisa”, “Rest!”, “Burda Style”, “Good Tips”, “My Child”, “Autosvit”, “The Ideas of Your Home”, “I Love Cooking” , “My Beautiful Garden”, “Grandma’s Compote” and “House in the Garden”, on-line projects “Na-proby” and GLAM.
Andriy Vdovychenko, CEO:
“I find AmCham Ukraine a great platform not only for communicating with people from different companies, but also for dialogue with government officials. The workshops and trainings organized here are a great tool for the development of our employees. I hope that our membership gives our company the opportunity not only to protect business interests, but also to expand its business in Ukraine through new contacts and ideas.”
Allergan Ukraine LLC
Allergan is a bold, global pharmaceutical company. Allergan is focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world.
Oleksandr Uskov, CEO:
“The American Chamber of Commerce in Ukraine is the leading platform for communication between companies within our industry, among other industries and all stakeholders in Ukraine. We are looking forward to new opportunities for improving dialogue with state authorities and public figures“.
Arсhimed is a service company, authorized importer to Ukraine of medical devices and other products for healthcare manufactured by Hartmann AG. Arсhimed provide sales representative services and expert support for the full product life cycle on Ukrainian market.
Nickolay Romanok, CEO:
“During the process of overcoming the peculiarities of the regulatory environment of our country we need transparent communication with government and business community. I consider that AmCham Ukraine will become as effective platform for these aims.”
Accountor started working in Ukraine in 2008 as a provider of business processes outsourcing. The company is a part of Accountor Group, the largest financial and HR services group of companies in Northern Europe. Our clients can focus on developing their business while we take care of their bookkeeping and ensure legal support.
Timo Matinpalo, CEO:
“We are happy to be a part of AmCham Ukraine. To provide high-quality business support means to constantly improve your knowledge, to be the first to learn about legislative changes and market innovations, and to respond to customer needs. Thus, AmCham enables companies to share their knowledge and experience about the challenges and opportunities businesses face today.”
KNESS is Ukrainian group of companies that develop technologies and implement traditional and renewable energy projects, providing the design, construction/reconstruction and commissioning of power facilities as a complete set of activities. Recently company became one of the first to become an open list of reliable contractors in Ukraine, which investors can trust.
Sergey Shakalov, Director:
“Participation in AmCham Ukraine allows you to join the practice of global business leaders, to interact with the international community and expand the opportunities for foreign investment, which gives a powerful impetus to the development of the national market.”
Kreston GCG
Kreston GCG is the Ukrainian representative of Kreston International – one of the world’s largest accounting and consulting firms with over 25,000 professionals in 125 countries around the world. Company is a leading specialist in providing audit, valuation, tax and legal services.
Sergiy Atamas, Managing Partner:
“We are pleased to be a part of AmCham Ukraine and made our choice understanding grand potential of future cooperation. Comparing the activities of the first ten business organizations and communities in Ukraine: the leader is clearly defined by the participants, intensity, openness and usefulness”.
SDM Partners
SDM Partners provides the full range of legal services to domestic and foreign businesses, governmental authorities, international organizations and financial institutions throughout Ukraine.
Dmytro Syrota, Managing Partner
“We are pleased to join the American Chamber of Commerce in Ukraine, the most active and effective business-oriented network in Ukraine, where we will have the opportunity to strengthen the relationship between Ukrainian and American business communities”.
NETWAVE operates in Ukraine since 2011 and become a specialized network integrator that solves IT tasks of development, implementation, modernization and maintenance of organizations and enterprises corporate information networks and systems.
Yuriy Sуdorenko, Director:
“Our team is very glad to join the Chamber. We want to understand better how IT can help businesses. AmCham Ukraine platform provides great opportunities for communicating with clients and partners, resulting in a mutually beneficial result. Networking, presentations and other events help to understand customer needs and adapt our business strategy”.
About the American Chamber of Commerce in Ukraine:
The American Chamber of Commerce in Ukraine has been operating in Ukraine since 1992. The Chamber cooperates closely with Ukrainian authorities to improve the business environment and attract foreign investment into the economy, advocates for predictable, transparent, equitable and stable rules of doing business. More information here:

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The Ukrainian designer of software Intellias is mulling a possibility of acquiring some companies for further growth, including companies with development centers in Eastern Europe, the co-founder and Board Chairman of Intellias Mykhailo Puzrakov has said in an interview with Die Welt. “So far we have grown organically. I believe, however, that maybe even next year we could start to consider some acquisitions. We are interested in companies that could interact with Intellias: companies with development centers in Eastern Europe, or companies with a client base that could complement ours. In addition, we will consider companies that have some experience or products that will help us gain new customers,” he said.
Puzrakov also announced plans to expand the company’s presence in Berlin next year – now only one employee works in the Berlin office of Intellias.
According to him, today one of the main advantages of Intellias is the ability to quickly scale the team, which is often required by their European customers.
Puzrakov also said that the company has ceased to be a startup, moving into the category of a successful and profitable business, but is still at the beginning of the growth stage.
Intellias was founded in Lviv in 2002. Its offices are located in Kyiv, Lviv, Odesa, Kharkiv and Berlin.

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The UNIT.City innovation park (Kyiv) and Western NIS Enterprise Fund (WNISEF) have presented the detailed overview of the key elements of Ukrainian IT industry, according to which a total of 184,700 designers worked in 4,000 IT companies in Ukraine in 2018. According to the data of the App Annie research company, every fifth global company working in the field of software development for mobile platforms has an office in Ukraine, according to the overview.
According to the study of The State of European Tech 2018, Ukraine has almost 184,700 IT designers. According to the report, last year Ukrainian startups managed to attract more than $290 million of investments.
“Over the past five years, the growth pace of the Ukrainian IT industry is calculated in double digits. Every fifth Fortune 500 company uses Ukrainian IT services. Therefore, today is the best time to open or expand own innovative business here. This guide will help international partners know this to be true,” UNIT.City CEO and Managing Partner Max Yakover said.
According to the overview, the IT industry is second in Ukraine in terms of exports in 2018, while in the world Ukraine ranks 24th among the most attractive countries for software development, and in accordance with the Global Innovation Index Ukraine ranked 54th out of 126 states.
“It is necessary that international partners have as much information as possible and have access to breakthrough local startups and entrepreneurs. The technology sector is of strategic importance for the Ukrainian economy and can change how Ukraine is perceived in the world during the digital transformation,” WNISEF President and CEO Jaroslawa Z. Johnson said.
The review also indicates that there are more than 110 research and development and design centers of companies located in Ukraine. The largest R & D partner of Ukraine is the United States (45% of companies), followed by the EU and Israel. The areas of expertise of Ukrainian R & D centers cover games, e-commerce, work with BigData and artificial intelligence, telecommunications, the Internet of Things, software development and other areas.
More than half of the R & D centers are located in Kyiv, and the major research centers are also Dnipro, Lviv, Kharkiv, Odesa and Vinnytsia.
As reported, the UNIT.City innovation park of businessman Vasyl Khmelnytsky officially opened in April 2017 on the territory of the former Kyiv Motorcycle Plant. On its territory there are co-working space Chasopys-UNIT, UNIT Factory IT school, three laboratories, a business campus, a foundation and five accelerators.

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The top 100 largest state-owned companies in Ukraine in 2017 saw net profit rise by 38.5% compared to 2016, to UAH 44.4 billion, while 88.5% of this amount was the profit of Naftogaz, according to data released by the Ministry of Economic Development and Trade. “The main factor of the growth of Naftogaz Ukrainy’s profit in 2017 was the victory in arbitration proceedings against Gazprom, due to which Naftogaz received the largest net profit for 20 years,” the ministry said, noting that in 2017 the net profit of Naftogaz increased to UAH 39.3 billion against UAH 17.8 billion in 2016.
The enterprises of state-regulated industries have become the most profitable in the list of the top 100 companies, First Deputy Minister of Economic Development and Trade Maksym Nefyodov said.
“At the same time, most companies remain extremely inefficient, as before. We have only one way out – to continue the corporate governance reform of those strategic state-owned companies that must remain in state ownership and hold a transparent privatization of other companies under the law adopted this year,” he said.
According to the ministry’s report, the total value of the assets of state-owned companies in 2017 compared to 2016 increased by 5% and amounted to more than UAH 1.509 trillion.



The State Automobile Roads Agency, also known as Ukravtodor, opened bids of contractors participating in a tender to build two-level traffic interchanges on M-05 Kyiv-Odesa and M-06 Kyiv-Chop highways. The press service of the agency reported that the tender to build two-level traffic interchanges was held as part of the implementation of the project of the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) entitled “Pan-European Corridors Project/European road of Ukraine II, Improvement of traffic condition of the roads at approaches to Kyiv.” The tender for the work was held for the contracts, the financing of which will be carried out through a loan: lot No. 1 is construction of two-level interchanges on the M-05 highway, turn to the village of Chabany and turn to Boyarka and M-06 highway – completion of the alignment near the village of Stoyanka; Lot No. 2 is construction of two-level transport interchanges on the M-06 highway – turn tot eh village of Chaiky and turn to the village of Bilohorodka.
Seven companies submitted their bids: Fermak Insaat Taahhut A.S. (Turkey), China Road and Bridge Corporation (China), СП PBDiM Sp. z o. o. (Poland) and Ukrainian-Polish Company with foreign investments UPS LLC (Ukraine), JSC Euro-Asian Construction Corporation EVRASCON (Azerbaijan), Sinohydro Corporation Ltd. (China), Alke Insaat Sanaye ve Ticaret A.S. (Azerbaijan), Kauno Tiltai LLC (Lithuania).

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