Business news from Ukraine


President of Ukraine Volodymyr Zelensky signed a decree that changed the composition of the National Investment Council on Monday, September 27.
According to decree No.488/2021 released on the presidential website, the following officials were included to the National Investment Council’s staff: Chairman of the Board of Directors of VEON Ltd. (Kingdom of the Netherlands) Gennady Gazin; chief representative of the Polish state oil and gas company “PGNiG S.A.” in Ukraine (Republic of Poland) Ireneusz Derek; Infrastructure Minister of Ukraine Oleksandr Kubrakov; First Deputy Prime Minister of Ukraine, Economy Minister Oleksiy Liubchenko; President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso; Deputy Head of the President’s Office of Ukraine Yulia Svyrydenko and Vice President of the European Investment Bank Teresa Czerwińska.
According to the decree, the following officials were removed from the National Investment Council: former member of the supervisory board of NJSC Naftogaz Ukrainy Yulia Kovaliv; former Infrastructure Minister Vladyslav Krykliy, former Economy Minister Ihor Petrashko, former President of the EBRD Suma Chakrabarti.
The decree comes into force on the day of its publication.



Ukrainian President Volodymyr Zelensky has changed composition of the National Investment Council, appointing himself head of the council.
“The Council includes: the Prime Minister of Ukraine; the Governor of the National Bank of Ukraine (by agreement); the First Vice Prime Minister of Ukraine, Minister of Economic Development and Trade of Ukraine; the Minister of Finance of Ukraine; the Minister of Justice of Ukraine; and also representatives of the Ukrainian and foreign organizations and companies, business circles, experts on issues of attracting investments, development of entrepreneurship, specialists in the field of economics, finance (subject to their consent),” the president said in the amended paragraph 5 of the Regulations on the National Investment Council.
The Council consisting of 29 members was approved by the decree. Candidate to people’s deputies from the Servant of the People Party David Arakhamia is appointed Secretary of the Council. Also, the National Investment Council includes deputy heads of the Presidential Administration Oleksiy Honcharuk and Vadym Prystaiko, president’s advisor Andriy Yermak and president’s advisor Oleh Ustenko.
After the change of its composition, Prime Minister of Ukraine Volodymyr Groysman, First Deputy Prime Minister, Minister of Economic Development and Trade of Ukraine Stepan Kubiv, Minister of Finance of Ukraine Oksana Markarova and Minister of Justice Pavlo Petrenko are left members of the Coucil.
The remaining 19 people were introduced to the board by their consent: these are presidents, CEOs and board chairmen of large international companies and banking organizations.
The Council includes, President of the State Oil Company of Azerbaijan Socar Rovnag Abdullayev, Board Chairman of Turkcell Iletisim Hizmetleri A.S. Ahmet Akca, CEO of Unilever N.V. (the U.K.) Alan Jope (replaced Paul Polman, who left the position of CEO), Board Chairman of Marubeni Corporation (Japan) Fumiya Kokubu (replaced Board Chairman Teruo Asada), Chief Operating Officer for Europe, Middle East & Africa (EMEA) at Bank Citigroup Inc. (the United States) James C. Cowles, CEO at Metro AG Olaf Koch, and CEO at Engie SA (France) Isabelle Kocher.
The National Investment Council also includes by their consent: Chairperson of the Supervisory Board of Louis Dreyfus Holding B.V. (Netherlands) Margarita Louis-Dreyfus, President and CEO at Cargill Inc. (the United States) David W. MacLennan, Chairman and CEO at Arcelor Mittal Limited Lakshmi N. Mittal, President and CEO at Sumitomo Warm Group (Japan) Kuniharu Nakamura, President and CEO at Holtec International, Inc. (the United States) Kris Singh and Governor of the National Bank of Ukraine Yakiv Smolii.
The Council also includes Chairman and CEO of the DP World group of companies (United Arab Emirates) Sultan Ahmed bin Sulayem, CEO and President at Vitol Holding B.V. (the Netherlands) Ian Roper Taylor, Chief Operating Officer of the International Finance Corporation (the United States) Stephanie von Friedeburg (replaced Vice President of the IFC Dimitris Tsitsiragos), CEO of Bunge Limited (the United States) Gregory A. Heckman, President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti and President and CEO of Posco Daewoo Corporation (South Korea) Young-Sang Kim.
At the same time, the following persons were removed from the National Council: Senior Vice President of General Electric, President and CEO of GE Transportation (the United States) Jamie S. Miller, CEO of the agro-industrial company Bunge Limited (the United States) Soren Schroder and Chairwoman of Huawei Technologies Co., Ltd (China) Sun Yafang.
The decree comes into force on the day of its publication.
The National Investment Council was established in 2016 and it is an advisory body to the Presidential Administration. Its task is to attract investment into the country and improve the investment climate.