News

Foto New Central Bank boss vows to follow predecessor's path

New Central Bank boss vows to follow predecessor's path

July 29, 2020 - The new Governor of the National Bank of Ukraine, Kyrylo Shevchenko, has assured that he will continue the policies of his predecessor. The sudden departure of Yakiv Smolii as NBU boss had increased worries over the bank’s independence and over Ukraine’s relations with the International Monetary Fund (IMF).
EconomyCentral BankIMFPrivatbank
Foto IMF lends Ukraine US$5M to tackle corona and corruption

IMF lends Ukraine US$5M to tackle corona and corruption

June 10, 2020 - After months of talks, the International Monetary Fund (IMF) has agreed to provide 5 billion US dollars to Ukraine over the next 18 months. The support is meant to help Kyiv to overcome the consequences of the corona crisis. But the IMF also expects Ukraine to pursue further reforms and to combat corruption.
CoronaEconomyIMFReforms
Foto Ekol Ukraine offers free logistics consultancy to ODU partners

Ekol Ukraine offers free logistics consultancy to ODU partners

June 01, 2020 - Partners of OpenDoorUkraine.NL can now get three hours of consultancy for free from logistics company Ekol Ukraine. That is the result of a memorandum of cooperation that was agreed between Ekol and OpenDoorUkraine.NL.
OpenDoorUkraine.NLBusinessLogistics
Foto ODU strikes partnership with event management agency ARENA CS

ODU strikes partnership with event management agency ARENA CS

May 17, 2020 - OpenDoorUkraine.NL has entered into a partnership with ARENA CS, one of the biggest creative event management agencies in Ukraine. The agreement will allow the two parties to promote sustainable development, as well as social and cultural activities between businesses in the Netherlands and Ukraine.
Civil SocietyOpenDoorUkraine.NLBusinessEvent organisation
Foto Free consultancy for Dutch enterprises from ODU partner Arzinger

Free consultancy for Dutch enterprises from ODU partner Arzinger

May 15, 2020 - Ukrainian law firm Arzinger has signed a memorandum of cooperation with OpenDoorUkraine.NL to help companies from the Netherlands on the Ukrainian market. This unique collaboration allows Dutch enterprises to obtain professional advice from a trusted legal partner in Ukraine, without having to conduct a special search or tender.
OpenDoorUkraine.NLBusinessLaw
Foto No bank run from COVID-19

No bank run from COVID-19

April 10, 2020 - Ukraine’s central bank published evidence of what observers had already seen: there has been no bank run in Ukraine. In the last month, Ukrainian households decreased their bank holdings by just 1.6 billion (0.5% m-o-m) and USD 16 mln (0.2% m-o-m).
CoronaBanking
Foto Dutch investor to set up bioethanol plant in Kirovograd

Dutch investor to set up bioethanol plant in Kirovograd

February 19, 2020 - Dutch investment company Black Swan Holding will build a bioethanol plant in Kirovograd in Central Ukraine. The installation will process corn into bioethanol, a source of renewable energy that can be used as biofuel or as a fuel additive.
NetherlandsBusinessAgro-industryKirovograd
Foto Dutch and Ukrainians build feed plant in Lviv region

Dutch and Ukrainians build feed plant in Lviv region

February 09, 2020 - A Dutch-Ukrainian project is investing $20 million in the construction of a plant in Lviv region to produce high-protein feed additives and animal fats. The Feednova manufacturing complex will be opened by the end of the year in the city of Busk, near Lviv in western Ukraine, creating 80 jobs for local workers.
NetherlandsBusinessAgro-industryLviv oblast
Foto National Bank of Ukraine reduces key policy rate to 11%

National Bank of Ukraine reduces key policy rate to 11%

February 01, 2020 - The National Bank of Ukraine has decided to reduce the key policy rate – the rate used by central banks to implement or signal their monetary policy stance – to 11%, its lowest level since 2014. The bank expects it will continue to decrease to 7% by the end of the year.
EconomyInterest rateMonetary policy
Foto EU frees funds for small and medium-sized farms in Ukraine

EU frees funds for small and medium-sized farms in Ukraine

January 29, 2020 - The European Commission has allocated 26M euro to support the development of agriculture and small farming in Ukraine. The funding will go mainly to small and medium-sized farms and businesses to help them to create a more inclusive and competitive agrarian sector.
EconomyEUAgriculture
Foto Ukraine's Central Bank outlines 5-year strategy in exclusive report

Ukraine's Central Bank outlines 5-year strategy in exclusive report

January 27, 2020 - Ukraine’s macroeconomic growth is continuing at a high pace, according to a report by Dmitry Sologub, Deputy Governor of the National Bank of Ukraine (NBU), that was obtained by OpenDoorUkraine.NL. The paper (attached below) outlines the Bank’s strategy for the coming five years.
EconomyPrognosis
Foto Ukraine uses e-census to count population

Ukraine uses e-census to count population

January 24, 2020 - The Ukrainian government has used a new type of electronic census to count the country’s population. The study (view here) shows that there are now 37,289,000 people living in Ukraine.
EconomyPopulationIT
Foto Teheran catastrophe hits Ukraine's flight industry at a high

Teheran catastrophe hits Ukraine's flight industry at a high

January 09, 2020 - OpenDoorUkraine.NL wishes to express its sincere condolences to the families and friends of those who perished in the crash of UIA flight PS752 in Tehran on Wednesday, January 8, 2020. Our thoughts are with the victims and their loved ones.
Aviation
Foto Ukraine and Russia reach five-year agreement on gas transit to EU

Ukraine and Russia reach five-year agreement on gas transit to EU

December 29, 2019 - At the last moment, Ukraine and Russia managed to reach agreement on the transport of Russian gas through Ukraine to the rest of Europe for the coming years. The gas deal is crucial for the European Union, that was party to the talks, to avoid being literally left out in the cold this winter, as the existing ten-year gas transit contract expires at the end of 2019.
EUEnergyGasRussiaNaftogaz
Foto Ukraine gets $5.5 billion loan from IMF

Ukraine gets $5.5 billion loan from IMF

December 11, 2019 - The International Monetary Fund (IMF) has given the green light for a $5.5 billion loan to Ukraine. The decision followed after a phone call between Ukrainian president Volodymyr Zelensky and the IMF’s Bulgarian Managing Director Kristalina Georgieva.
EconomyIMFPrivatbankLoan
Foto Ukraine parliament paves way for tax info exchange with USA

Ukraine parliament paves way for tax info exchange with USA

December 03, 2019 - The Ukrainian parliament has amended existing laws in order to allow the exchange of tax information with the United States. With these changes, Ukraine can ensure the application of the US Foreign Account Tax Compliance Act (FATCA), which aims to prevent money-laundering, fraud, and other tax transgressions by US taxpayers (either citizens or entities) in Ukraine.
USAParliamentTax
Foto

"Angels" invest in neighborhood social network Localhalo

November 30, 2019 - Localhalo, a new social network that helps to link neighbors with each lother, has managed to raise $500 thousand from angel investors. The startup company was founded by Brit James Rutledge and Andrey Maryin from Ukraine.
BusinessStart-upSocial networkIT
Foto Dutch-Ukrainian IT unicorn GitLab raises $268 million

Dutch-Ukrainian IT unicorn GitLab raises $268 million

November 28, 2019 - Dutch-Ukrainian IT start-up GitLab has raised $268 million in a special funding round. More external investment is to follow next year, as the “unicorn” company plans a launch on the stock exchange on November 18, 2020.
BusinessStart-upIT
Foto Agro-company Kernel places $300 million in Eurobonds

Agro-company Kernel places $300 million in Eurobonds

November 27, 2019 - Kernel, one of the largest agricultural holdings in Ukraine, has placed $300 million Eurobonds with a coupon rate of 6.5% and maturity in 2024. According to one participant in the Ukrainian agricultural market, the yield on Eurobonds was set at 6.625%, while the securities themselves were sold at a price of 99.475% of the face value. The Eurobonds placement is organised by ING Bank and JP Morgan.
BusinessAgriculture
Foto President's forum puts government-controlled Donbas on investor's map

President's forum puts government-controlled Donbas on investor's map

November 05, 2019 - Ukrainian president Volodymyr Zelensky chose an unusual location for RE:think, the first international economic forum under his presidency: the Donbas city of Mariupol, 800 km east of Kyiv and only 20 kilometers from the eastern war front.
EconomyInvestmentsMariupolDonbas
Foto Dutch lawyers help to “unbundle” Ukraine's gas sector

Dutch lawyers help to “unbundle” Ukraine's gas sector

November 01, 2019 - The Ukrainian parliament has adopted rules for the “unbundling” of state gas company Naftogaz, a key demand of the EU and international funders. Naftogaz has hired a Dutch law company to help separate its gas transmission system from production and supply.
NetherlandsEUEnergyGasRussiaNaftogaz
Foto Registration of foreign companies in Ukraine made easier

Registration of foreign companies in Ukraine made easier

Oktober 25, 2019 - Registering a foreign company in Ukraine has become easier, thanks to changes introduced by the Cabinet of Ministers on October 24.
BusinessITRegistration
Foto Court setbacks for oligarch Kolomoisky in PrivatBank battle

Court setbacks for oligarch Kolomoisky in PrivatBank battle

Oktober 23, 2019 - Controversial Ukrainian oligarch Oleg Kolomoisky has suffered legal setbacks in courts in London and Kyiv over the control of his former bank PrivatBank. The case of PrivatBank is seen by many, including the International Monetary Fund, as a testcase for Ukraine’s commitment to reforms, because of Kolomoisky’s connections with president Volodymyr Zelensky.
OligarchsBanking
Foto NBU boss honoured as best Central Banker of Central and Eastern Europe

NBU boss honoured as best Central Banker of Central and Eastern Europe

Oktober 20, 2019 - Leading financial information agency Global Markets has designated governor Yakiv Smolii of the National Bank of Ukraine (NBU) as Central Banker of the Year for Central and Eastern Europe. The agency selected Smolii for his firm stance on monetary policy, that helped to bring down inflation in Ukraine.
Banking
Foto Tourism to Ukraine is gaining traction

Tourism to Ukraine is gaining traction

Oktober 13, 2019 - Ukraine is rising through the ranks of tourist destinations. The latest report of the World Economic Forum on tourist competitiveness put Ukraine on the 78th place among 140 countries, up ten places from last year. Market experts expect Ukraine to move up even higher in the coming years.
Tourism
Foto Kyiv Boryspil is Europe's second fastest growing airport

Kyiv Boryspil is Europe's second fastest growing airport

Oktober 10, 2019 - Kyiv’s Boryspil airport has seen its traffic grow by 24.2% in August 2019, according to the latest figures issued by the European branch of ACI, the international association of airport operators. This makes Boryspil the second fastest growing airport in Europe.
TourismKyivAviation
Foto Ukrainian company Grammarly raises $90m for AI language technology

Ukrainian company Grammarly raises $90m for AI language technology

Oktober 10, 2019 - A Ukrainian start-up is helping more and more people around the world to write correct English. Grammarly, a company that offers an online writing tool, announced that it has secured $90 million in funding to develop its Artificial Intelligence technology.
ITArtificial intelligence
Foto Ukraine's rail and postal service are eying massive foreign investments

Ukraine's rail and postal service are eying massive foreign investments

Oktober 04, 2019 - Ukraine’s rail service Ukzaliznytsia and the national postal service Ukrposhta are hoping for a windfall now that parliament has moved to facilitate privatisations and foreign direct investments in state companies.
PrivatisationRailwaysPostageRoads
Foto Ukraine's parliament paves the way for privatisation of state companies

Ukraine's parliament paves the way for privatisation of state companies

Oktober 04, 2019 - Ukraine’s parliament has given a boost to president Volodymyr Zelensky’s ambitious privatisation programme. By scrapping the list of state companies that cannot be privatised on October 3, the Verkhovna Rada paved the way for foreign investments in railways, roads and other public utilities.
PrivatisationReformsInfrastructure
Foto Ukrainian IT market heading for 30% growth in 2019

Ukrainian IT market heading for 30% growth in 2019

September 30, 2019 - The growth of the Ukrainian IT industry could reach 30% by the end of 2019, says vice-president Andriy Yavorsky of GlobalLogic, Ukraine’s largest software designer. This is above the average annual growth of 20-25% of the past years.
IT
Foto EU tells Kyiv to get tough on tobacco smuggling

EU tells Kyiv to get tough on tobacco smuggling

September 17, 2019 - The European Union is stepping up pressure on Ukraine to combat tobacco smuggling. First of all, Brussels wants Kyiv to criminalise the contraband of cigarettes.
EUTobaccoSmuggling
Foto Zelensky's to-do list sets stringent agenda for reform legislation

Zelensky's to-do list sets stringent agenda for reform legislation

September 06, 2019 - In his first joint session with the new parliament and government and the security forces, Ukrainian president Volodymyr Zelensky set the bar high. The meeting on September 2 established hard deadlines for the Verkhovna Rada (parliament) and other institutions to prepare far-reaching and long-awaited reforms, especially in the economic sphere. 
EconomyCorruptionPrivatisationReformsAgricultureInfrastructure
Foto President wants parliament to push through ambitious privatisation laws

President wants parliament to push through ambitious privatisation laws

September 04, 2019 - Ukrainian president Volodymyr Zelensky presented an ambitious programme of reforms and privatisations in the newly assembled parliament. In their first week in office, the members of the Verkhovna Rada were presented on September 2 with tight deadlines to push through new laws.
PrivatisationReforms
Foto OpenDoorUkraine.NL's Business Café highlights economic sectors with potential

OpenDoorUkraine.NL's Business Café highlights economic sectors with potential

September 03, 2019 - The Economic Table of OpenDoorUkraine.NL held its first public event with a Business Café on August 31. The meeting allowed to investigate the business potential of Ukraine with interested Dutch and Ukrainian partners.
OpenDoorUkraine.NLNetherlandsHoge VeluweEconomyTourismAgricultureITLviv
Foto Former Warsaw mayor will be Ukraine's new Business Ombudsman

Former Warsaw mayor will be Ukraine's new Business Ombudsman

July 31, 2019 - Polish parliamentarian Marcin Święcicki will take up the post of Ukraine’s Business Ombudsman, news agency Interfax-Ukraine and Kyiv Post announced. The Ombudsman serves as a watchdog to monitor state activities and combat corruption that could affect business.
CorruptionBusinessTransparency