Business news from Ukraine

SMALL PRIVATIZATION TO START IN JUNE – PM GROYSMAN

Privatization of small assets that are not of strategic importance for the Ukrainian economy will begin through the ProZorro system in June, Prime Minister of Ukraine Volodymyr Groysman has said. “I believe that privatization is the fund-raising for industry. This month, a new formula for the sale of small enterprises – through ProZorro – starts openly, publicly, without abuse,” the press service of the government quoted Groysman as saying. According to him, large, strategically important assets will be kept in state property, and those where it is possible to raise capital for updating technologies and multiplying jobs will be made ready with the help of well-known world advisers.
“This practice was carried out by countries with a high standard of living. And we, unfortunately, remained with a bunch of problems that now need to be resolved,” Groysman said.
Earlier, First Deputy Minister for Economic Development and Trade Maksym Nefyodov said that the State Property Fund (SPF) of Ukraine had approved a list of more than 600 small-scale privatization facilities that are subject to privatization in 2018. The first auctions can be announced at the end of June.

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PM GROYSMAN: GROWTH OF IT SECTOR IN UKRAINE IN 2017 IS 20%

Ukrainian Prime Minister Volodymyr Groysman has said that the growth of the IT sector in Ukraine last year was 20%. He said that the similar growth is planned for this year. “In 2017, the IT industry brought $3.6 billion of export revenue to the country. The share of the IT sector of the country’s GDP is around 3.4%. As of early 2018, over 120,000 employees and engineers worked in the sector, and their number is permanently growing,” he wrote on Twitter on Tuesday. He also said that in May it is planned to hold a new ‘deregulation’ meeting of the Cabinet of Ministers: “We will continue annulling piles of unnecessary regulations and approve the required decisions, first of all, for the IT sector.”

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PM GROYSMAN WANTS TO SIGN FTA AGREEMENT WITH TURKEY THIS YEAR

Prime Minister of Ukraine Volodymyr Groysman has said that Ukraine intends to sign an agreement on a free trade zone (FTA) with Turkey before the end of 2018. “Tomorrow, a delegation headed by the first deputy PM is coming back. We are going to sign an agreement on a free trade zone with Turkey this year,” the head of the government said on the Inter TV channel on Friday. Groysman said that this agreement would positively contribute to the development of the country’s economy.

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PM GROYSMAN WANTS TO STRENGTHEN LAW ON PROTECTING BUSINESSES

Ukrainian Prime Minister Volodymyr Groysman supports the initiative to strengthen the adopted law on protecting businesses from the actions of law enforcement officers (the so-called “stop masks-show” law) by establishing controllers’ liability for exceeding their powers.
“The law is designed to restore order in relations between the law enforcement system and business. Our priority is to improve living conditions, but this is possible amid the development of the economy and entrepreneurship,” the government’s press service quoted Groysman as saying on April 7 at a meeting of the interdepartmental commission on the observance of the rights and legal interests of individuals by law enforcement agencies.
He said that the key task of the new commission, which includes mainly representatives of business associations and the Office of the Business Ombudsman, was to consider all cases of pressure on businesses.
“If there is excess of authority, we will give our conclusions and we will apply to law enforcement bodies so that they take personnel decisions regarding dishonest workers… But there will also be requirements for business entities – honest business, fair payment of taxes. This balance must be maintained,” he said.
He suggested that entrepreneurs, before the next meeting of the commission, determine cases of pressure on businesses so that specific decisions on further actions could be taken.
According to the government’s press service, the adopted government law on business protection should be implemented and strengthened with new legislative initiatives – in the context of establishing the liability of controllers for exceeding their authority.
As reported, on November 16, 2017, the Verkhovna Rada, Ukraine’s parliament, adopted at first reading and as a whole draft law No. 7275 on amendments to some legislative acts to ensure that law enforcement agencies observe the rights of participants in criminal proceedings and other persons during pretrial investigations.
President Petro Poroshenko signed the law on December 1.

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PRIME MINISTER GROYSMAN GETS UAH 17 MLN INCOME IN 2017

Ukrainian Prime Minister Volodymyr Groysman has submitted the income tax declaration for electronic filing for 2017, which in total came to over UAH 17.1 million. The department of the information and public relations of the Secretariat of the Cabinet of Ministers, total income of Groysman for 2017 was UAH 17.102 million (UAH 15.802 million in 2016).
The following income was declared: salary on the post of the prime minister – over UAH 435,647, income from leasing property (bought before 2006) – UAH 5.15 million, income from selling immovable property (a land parcel) – UAH 8.798 million and income from placing funds on bank accounts – UAH 2.719 million.

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