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Old 18th October 2014, 14:53
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Government launches web instruments for investors willing to place money in Ukraine
Oct. 17, 2014, 5:33 p.m. | Business — by Andrii Degeler, Evan Ostryzniuk

In a new attempt to attract additional foreign money to Ukraine, the State Agency for Investment and National Projects is developing an interactive map that's aimed at showing a potential investor all the possibilities at a glance. The agency presented a beta version of the map on Oct. 16.

It is part of the strategy that is supposed to bring as much as $40 billion in foreign investments by 2020.

This comes as agency's last project since the Cabinet of Ministers disbanded it on Sept. 10 and passed its functions to the Economy Ministry.

The interactive map is set to be completed by December and has been financed by the Federation of Canadian Municipalities. Besides money, the Canadian side provided a technology for the project, while the data regarding investment objects and background information about Ukraine and its regions has been collected and compiled by the Investment Agency.

Kyrylo Bondar, Investment Agency's first deputy head, emphasized at the presentation that "not a cent of (Ukrainian) government's money has been spent on this project."

As of Oct. 17, the interactive map consists of an actual map based on Google Maps with investment objects added for each region, as well as a section containing all sorts of background information on the country. It includes data on industries, population, transportation, and detailed descriptions of each region.

Vasyl Fedyuk, investment policy and regional development chief at the Investment Agency, said the project is a Ukraine's step towards getting rid of its negative image of a country that doesn't effectively protects the investors' property rights.

Benevolent intentions

The interactive map presented by the Investment Agency is not the first of its kind in Ukraine. Back in 2012, a similar project dubbed "Atlas of Ukraine's investment attractiveness" was launched by the Kyiv School of Economics, Korrespondent news website, and U.S.-backed Local Investment and National Competitiveness project. The atlas used to be hosted at the Korrespondent website, but as of October 2014, it's not available.

The prospects of the new interactive investment map will also largely depend on how well the agency will be able to maintain it, emphasized George Woods, expert at FIP Associates, a Canada-based consultancy on foreign investments. Speaking at the presentation, he said that "the map is a great tool, but it's only a tool, and you still need skilled people to operate it."

Łukasz Leśniewski, head of the economic information division at Invest in Poland agency, said the database needs to be constantly updated to provide investors with as accurate information as possible.

"In Poland, we have (dedicated) people who verify this data. There's nothing worse for such a project than to lose credibility," he concluded.

Kyiv Investment Agency

Kyiv has launched its own project aimed at boosting the investments. On Oct. 16, first deputy chairman of the Kyiv State City Administration Ihor Nikonov announced the reestablishing of the Kyiv Investment Agency in order to attract foreign and domestic investors alike to a wide range of municipal projects.

The project's website is in Ukrainian and English.

Previously, the agency was rather ineffective as its tenders were closed and overall activity lacked transparency, benefitting close allies of Kyiv former heads Leonid Chernovetsky and Oleksandr Popov, explained Nikonov. Now it will be led by Oleh Mistyuk, former World Bank official who holds a master of business administration degree.

Already underway is a state-public partnership scheme to get private investors to pony up for public playgrounds. According to preliminary estimates, the amount of investment in transportation optimization alone could be worth $2 billion and pay off in 10-15 years.

Nikonov says, the agency will operate in a "single window" - consolidation of access – where a potential investor will be able to interface with bureaucrats that represent all aspects of the object of investment. No more running from office to office collecting stamps and signatures.

Everything will be available online, from proposals to tender winners to a single database containing all relevant information. This should add transparency and reduce the time of doing an investment deal to just 90 days, said Mistyuk, an agency head. According to Nikonov of City Administration, before the Revolution of Dignity the process could take up to 500 days.

Agency expects the World Bank and USAID to be major donor organizations.
Government launches web instruments for investors willing to place money in Ukraine
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Old 21st October 2014, 06:20
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"Like no other time in its modern history Ukraine’s people are determined to be heard and respected, the politician that fails to recognize that will likely not be in office very long."

American investment banker 'cautiously bullish' on Ukraine
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Old 21st October 2014, 14:48
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Ukraine to get EUR 260 mln in EU aid in November
21.10.2014 | 16:21 UNIAN

The next tranche of the EU’s macro-financial assistance, totaling EUR 260 million, is to be disbursed in November, a Ukrainian government official has said.

According to an UNIAN correspondent, this was stated by Deputy Head of the Presidential Administration of Ukraine Valeriy Chaly at a briefing in Kyiv on Tuesday.

"By October 22, a decision will be made regarding the disbursement of the third tranche within the first phase of macro-financial assistance, amounting to EUR 260 million. I think Ukraine could get this money in as early as November," Chaly said.

In addition, another EUR 500 million in aid is expected, and the legislative preparations are currently under way regarding the receipt of a third tranche of macro-financial assistance, ranging from EUR 1 to 2 billion,” Chaly said.

It will be relevant to talk about the second phase of assistance of EUR 500 million not earlier than in January next year, he said.

As UNIAN reported earlier, the EU’s total support for Ukraine in the framework of macro-financial assistance is estimated at EUR 1.61 billion. This support is a part of a broader assistance package for Ukraine announced by the European Commission on March 5, 2014.
Ukraine to get EUR 260 mln in EU aid in November : UNIAN news
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Old 21st October 2014, 14:57
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16:35 21.10.2014
Metinvest in H1, 2014 increases capital investment by 8%

Metinvest B.V. (the Netherlands), the parent company of the Metinvest international vertically integrated steel and mining group, in January-June 2014 increased its capital investment by 8% compared to the same period in 2013, to $272 million.

According to the company's unaudited consolidated results of financial statements in accordance with the IFRS posted on the Irish Stock Exchange, the steel division accounted for 50% of capital investment (47% in the first half of 2013), the mining division - 40% (45%).

In this period Metinvest continued the implementation of investment projects in accordance with the technological strategy adopted in 2012, taking into account it renovation in 2013. Funding for the program of capital investment was carried out at the level of the index determined by the group budget within financial constraints and a limited access to external financing, as well as the postponement of terms of some projects.

According to the report, over the six months of 2014 the volume of net cash used in investment activities rose by $38 million compared to the previous year, to $280 million.
Metinvest in H1, 2014 increases capital investment by 8%
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11:00 20.10.2014
Polish Economy Minister to bring several investment projects to Ukraine soon

Deputy Prime Minister and Minister of Economy of Poland Janusz Piechocinski will arrive to Ukraine soon to bring several investment projects.

Such agreement was reached during the meeting of Ukrainian President Petro Poroshenko with Prime Minister of Poland Ewa Kopacz in Milan on Friday, the presidential press service reported.

The parties expressed confidence that Ukrainian-Polish relations would be further developed in the spirit of strategic partnership.

In the course of the meeting, Poroshenko and Kopacz discussed top-priority tasks in the agenda of bilateral relations, particularly cooperation in the sphere of energy, security, defense and struggle against corruption.

The Polish prime minister offered to provide expert assistance to Ukraine on the functioning of Polish analogue of the Anti-Corruption Bureau and in the sphere of decentralization, the press service said.
Polish Economy Minister to bring several investment projects to Ukraine soon
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14:00 20.10.2014
Kharkiv airport entering the express delivery market

Kharkiv airport next year plans to enter the express delivery market.

"We're working on the organization of express delivery. We could organize a place on the basis of a temporary storage warehouse where people could bring their personal small parcels and we would be the express delivery operator," Director of Polex Express, the official cargo operator of Kharkiv airport, Hryhoriy Scherban, said, commenting on new project at the airport at the Agroport forum on October 17.

He said that the express delivery service will start working no earlier than next year.

Scherban also said that the negotiations on the organization of charter cargo transportation from Poland and Turkey are being held. He said that this will allow boosting the handling of cargo.

Commenting on the cargo capacity of the airport's terminal, he said that there is a possibility of handling 30-40 tonnes a day. However, due to the situation in the country, only three or four tonnes a month are handled for arrival and one tonne for exports.
Kharkiv airport entering the express delivery market
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Old 22nd October 2014, 13:35
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14:26 22.10.2014 INTERFAX-UKRAINE
Yatseniuk: Stockholm arbitration accepts Naftogaz lawsuit on interim gas price

The Arbitration Institute of the Stockholm Chamber of Commerce has accepted an additional Ukrainian lawsuit regarding an interim deal between Naftogaz Ukrainy and Gazprom, Ukrainian Prime Minister Arseniy Yatseniuk has said.

"The Stockholm arbitration court has accepted our additional lawsuit regarding an interim solution in the Naftogaz-Gazprom affair," the prime minister said in his opening remarks at the government meeting on Wednesday.

According to Yatseniuk, Ukraine has two options: "The first option is to sign an interim agreement we have drawn up together with our European partners…. The second option is a dispute settlement in court, and the court may set an interim price and, respectively, a procedure for payment and natural gas supply." Yatseniuk: Stockholm arbitration accepts Naftogaz lawsuit on interim gas price
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Old 22nd October 2014, 19:07
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Boeing launches office in Kyiv
Oct. 22, 2014, 11:24 a.m. | Business — by Ivan Verstyuk

Boeing, the giant Chicago-headquartered airplane maker, has opened an office in Kyiv after launching a corporate design center in November 2013. Previously, company has been doing all its business in this part of the world through its Moscow office.

Boeing Ukraine has its own goals and tasks, company's spokeswoman in Moscow Elena Alexandrova told RBC, a business news agency, on Oct. 21. Currently it employs 150 people with plans to expand staff to 400 by the year's end.

The Kyiv-based design center of a company, whose planes are popular with local airlines, is hiring the engineers, making offers to those currently employed in Boeing's Russian branch.

"There are lots of talented, highly qualified specialists among the Ukrainian engineers," Alexandrova said. "(Decision to launch a research & development center in Ukraine) was made as a part of the global strategy to increase the competitiveness and provide the opportunities for future growth (of the company)."

National Aviation University in Kyiv remains a popular educational hub for applicants from the emerging markets seeking for learning the aircraft technology. As of now, 1,200 foreign students are enrolled in various programs, while overall student community exceeds 50,000.

Part of the work on projecting the airplane components has been transferred from Moscow to Kyiv due to lower production costs in Ukraine, which is why Russian engineers are holding technological workshops for their Ukrainian counterparts in Kyiv, according to RBC.

Ukraine International Airlines, biggest local air travel company, has 32 Boeings among 37 planes in its transportation portfolio. Airbuses are main rivals for Boeings in Ukraine. For instance, rather small Windrose has only three planes on its list, all Airbuses. Wizzair Ukraine, a low cost with a parent company in Hungary, operates only Airbuses too.

Boeing 737-800, a flagship carrier with 186 seats, costs $93.3 million, while Airbus A320 goes pretty much for the same price - $93.9 million and usually has 150 seats, though some modifications have 180 seats.

Boeing's net earnings in six months this year grew by 19 percent year-on-year and reached $2.6 billion.

Running the Ukrainian part of the business through an office in Moscow is a usual strategy for the global companies. "In order to negotiate over opening the Apple Store in Ukraine we have to deal with Apple's Moscow office," Vitaliy Boyko, partner at Ukrainian Trade Guild consultancy, told the Kyiv Post.

Meanwhile, American clothing producer Abercrombie & Fitch is currently testing the Russian market before making a decision on whether it's worth to enter Ukraine. However, Boeing decided to go a different way.
Boeing launches office in Kyiv
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Old 23rd October 2014, 14:54
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Economists analyze Ukrainian electoral platforms
23.10.2014 UKRAINE MEDIA CENTER

Kyiv, October 23, 2014 - Ukrainian and international economists have analyzed the electoral platforms of the Ukrainian political parties seeking representation in the next parliament. This was stated at Ukraine Crisis Media Center by economists Dmytro Boyarchuk and Ilona Sologub of public reform program VoxUkraine. This public initiative seeks to examine the advisability of each party’s electoral platform when it comes to enacting economic reforms in the country. The group ranks each party’s platform and programs on their economic adequacy.

“You can say that we have had some disappointment because of the platforms and pledges of political forces,” stated Boyarchuk. Many of the claims and promises of various Ukrainian political parties are impractical, and are designed to curry votes rather than actually reform Ukraine’s economy. VoxUkraine examined each major political party running for parliamentary seats on October 26, ranking each party on a scale of 0-10 in different categories.

Boyarchuk and Sologub lamented that most of the major political factions in Ukraine are not specifically focused on important economic reforms. “Everybody pays attention to anti-corruption efforts and lustration,” Boyarchuk said. “This way, no one talks about housing programs and less pressing matters.” The security situation in the east and some other topics receive all the attention, while economic issues are often mentioned without any specifics. Those party platforms that do go into specifics tend to promise benefits for Ukrainians without bothering to mention their economic feasibility. For example, “everyone is promising to give loans to young families or improve utility bills, but there aren’t any details on this,” stated Sologub. In the meantime, “leading parties have ignored energy efficiency and the environment,” she added.

Boyarchuk and Sologub stated that Ukrainian political parties rely on people’s ignorance about economic matters. “Stupidity is assumed among voters,” said Boyarchuk. In this way, the parties make many promises without going into details on how to achieve them. VoxUkraine analyzes the parties’ electoral platforms in order to encourage transparency and provide economic information to voters who might not otherwise understand the party platforms.
Economists analyze Ukrainian electoral platforms | Ukraine Crisis Media Center | UACRISIS.ORG
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