Business news from Ukraine


The foreign ministers of Ukraine, Georgia and Moldova have addressed the European Union together regarding the importance of support for the Eastern Partnership, according to the press service of the Foreign Ministry of Ukraine.
“On the margins of the Munich Security Conference the Ministers of Foreign Affairs of Ukraine, Georgia and Moldova have signed a joint letter to the Members of the European Commission regarding importance of relevant financial support for the Eastern Partnership in the next EU Multiannual Financial Framework for 2021-2027 that is currently being shaped by the EU institutions,” reads the statement.
The ministers called on the EU to take into account within its strategic budgetary planning for the next seven years the scale and ambitions of the reforms, which are being implemented and planned by Ukraine, Georgia and Moldova in the process of their European integration.
“The joint address of the Ministers is another sign of unity of Ukraine, Georgia and Moldova in their approaches to future development of the Eastern Partnership, based on the differentiation principle, as well as to the idea of enhanced dialogue in the EU+3 Associated Partners format,” reads the statement.

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Von der Heyden Group, an international investment firm on the European real estate market (Valletta, Malta), has opened its first regional office in Kyiv and plans to invest EUR 50 million in commercial and residential property in Kyiv and Lviv during its preliminary phase.
“Von der Heyden Group… has opened new offices in Kyiv in Q4 2019 to establish multi-million euro investments in Ukraine. The group… will invest around EUR 50 million in commercial and residential properties in Kyiv and Lviv during its preliminary phase, aiming to increase this to up to fourfold in its mid-term portfolio expansion in a favourable market,” the company said in a press release.
According to the report, the Von der Heyden Group has appointed a local expert team, formed to expand the group’s real estate portfolio led by Dmitry Havrylenko who assumes the role of Chief Executive Officer in Ukraine. Havrylenko until recently held the position of National Director and head of the Ukrainian office of global investment management firm, Jones Lang LaSalle (JLL). Ex-Head of Capital Markets at the Kyiv office of Jones Lang LaSalle (JLL) Tatyana Yarmolitskaya joined the Von der Heyden Group as Investment Director. Ex-Associate with the tax practice of leading Ukrainian law firm, Arzinger, also joined the team as Legal & Tax Director.

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Horizon Capital investment company to increase assets in Ukraine and Moldova to over $1 bln
DAVOS. Jan 24 (Interfax-Ukraine) – Horizon Capital, an investment company currently managing assets in Ukraine and Moldova in the amount of about $850 million, intends to exceed the asset level under management of $1 billion in the near future, Lenna Koszarny, the CEO of the company, has said. “Our main plans are as follows: we will manage more than $1 billion in the near future. These are our direct investments, co-investor funds and debt financing,” she told Interfax-Ukraine on the sidelines of the Ukrainian House, organized by the Pinchuk Foundation, WNISEF and Horizon Capital in Davos.
She said that Emerging Europe Growth Fund III (EEGF III) fund, worth $200 million, the formation of which was completed a year ago, has already made nine investments in Ukraine.
“And we are closing two more deals: the tenth and 11th investments are companies that are developing rapidly,” she said, without specifying the details before the completion of transactions.
She emphasized that the company intends to remain the leader in its sector.
Horizon Capital was founded in 2006 by four partners who began their cooperation with Western NIS Enterprise Fund (WNISEF), an investment fund created for the funds of the U.S. government in 1994 with a capital of $150 million for Ukraine and Moldova. Currently, the major shareholder and CEO of Horizon Capital is Koszarny. The company has offices in Kyiv and Chicago.

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Ukraine has reduced its position in the ranking of world passports by two points at the end of 2019, according to the Henley & Partners Passport Index.
According to the report, over the past year, Ukrainian citizens received the right to visit Bahrain and Saudi Arabia without visas, but at the same time visa-free access for Ukrainians to Benin and Djibouti was stopped. Thus, the number of countries that Ukrainians can visit without a visa or with a visa upon arrival remained unchanged at 128, and the position in the ranking shifted from 41 to 43, which was shared with Nicaragua.
The leader of the rating for the third year in a row remains Japan, whose citizens can visit 191 countries without a visa. Singapore ranks second, while the third place is shared by South Korea and Germany.
Italy ranked fourth in the ranking, and three countries at once were fifth, including Denmark, Luxembourg, and Spain. The United States and the UK, who led the rating five years ago, fell to the eighth place.
The last place in the ranking was taken by Afghanistan, whose citizens can visit 26 countries without visas.

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Polish Ambassador in Kyiv Bartosz Cichocki and his Israeli counterpart Joel Lion have said that honoring people who “actively propagated ethnic cleansings” is insulting and are expecting the Kyiv City State Administration (KCSA) and the Lviv Regional Council to join “efforts to seek the truth” in this issue. “We are seriously concerned and saddened that representatives of Ukrainian authorities of various levels, including the Lviv Regional Council and the KCSA, still mark historical events and honor persons who must be condemned once and for all,” the ambassadors said in a joint statement.
They thus are alarmed by the fact on December 24, the Lviv Regional Council issued a resolution, which implies the allocation of public funds in 2020 to honor the memory of one of the leaders of the Organization of Ukrainian Nationalists (OUN, which is banned in Russia) Andriy Melnyk, as well as writer and statesman Ivan Lypa and his son and public figure Yuriy Lypa.
“In addition, on January 1, the Kyiv City State Administration (KCSA) placed a banner with a portrait of Stepan Bandera on its building. Remembering our innocent brothers and sisters killed in 1939-1945 on the occupied Polish territories, which are currently part of Ukraine, we, the ambassadors of Poland and Israel, believe that honoring people, who have actively propagated ethnic purges, is an insult, and leads to the opposite result in the fight against anti-Semitism and in the reconciliation process between our peoples,” the statement reads.
In this connection, the ambassadors are expecting the Lviv Regional Council and the KCSA to join the dialogue seeking the truth.
“On our part, we stand ready to promote better cooperation between various institutions in Israel and Poland, including with Yad Vashem and with the Institute of National Remembrance,” the statement said.
As reported, a procession with torches marking Bandera’s 111th birth anniversary took place in downtown Kyiv in the evening on January 1.
According to media reports, about 1,500 attended the event.
About 2,000 attended the torch march that marked Bandera’s birth anniversary in 2019.

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Parliamentary immunity has stopped being in effect from January 1, 2020.
As reported, On September 3, the Verkhovna Rada voted to adopt on its merits bill No. 7203 amending Article 80 of the Constitution of Ukraine which fully abolishes parliamentary immunity from 2020.
The law removes from Article 80 of the Constitution the provision stating that parliamentarians cannot be prosecuted, detained or arrested without the consent of the Verkhovna Rada and that they are guaranteed parliamentary immunity.
Only one provision remained in the article. This states that Ukrainian parliamentarians do not bear legal liability for the voting outcomes or statements made in the parliament or its bodies, with the exception of liability for slander or defamation.
At the end of 2019, Ukrainian President Volodymyr Zelensky signed bill No. 2237 into law, bringing the Ukrainian legislation regarding the immunity of deputies into line with the Constitution of Ukraine.
According to the adopted amendments, the application for permission to detain, select the measure of restraint (detention in custody, house arrest), and other investigative search actions must be agreed with the prosecutor general.
Investigators of the National Anti-Corruption Bureau of Ukraine (NABU) and the central office of the State Bureau of Investigations (SBI) are entitled to conduct pretrial investigation of criminal proceedings opened against MPs. It is forbidden to entrust the execution of a pretrial investigation of a criminal offense committed by an MP of Ukraine to other bodies of pretrial investigation, except for the NABU and the central office of the SBI in accordance with their investigative jurisdiction.

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