Economic news | Open Door Ukraine

Commencement of reconstruction of Novoselivka village

August 27, 2023 - August 25, 2023 – OpenDoorUkraine.NL is happy to announce that the pilot reconstruction project of Novoselivka village, Chernihiv oblast, has commenced. In the course of the following months, we plan to construct 5 to 6 fully equipped houses of about 60 square meters each. This project is entirely crowdfunded and is being done in close collaboration with local Ukrainian partners.

Humanitarian aid OpenDoorUkraine.NL Reconstruction Housing tiny houses Prefabricated housing Novoselivka

Help Oekraïners in Irpin aan een dak boven het hoofd

August 04, 2022 - OpenDoorUkraine.NL zet zich in om burgers in Irpin te helpen hun woningen te herstellen voordat de winter toeslaat. U kunt hen helpen door via deze link te doneren! Deze actie was ook te zien op de NOS tv en website.

OpenDoorUkraine.NL Netherlands Russian invasion Solidarity/Fundraising Reconstruction Irpin

ODU solidair met Oekraïne, vraagt om hulp voor vluchtelingen en oorlogsslachtoffers

February 24, 2022 - ODU - HUMANITARIAN · Het ondenkbare is gebeurd. Net als velen in Oekraïne, Nederland en wereldwijd is Stichting OpenDoorUkraine.NL (ODU) geschokt door de plotse militaire aanval die de Russische president Poetin tegen zijn buurland heeft ingezet. Deze invasie is het begin van een lange nacht voor Oekraïne.

Humanitarian aid NGOs Netherlands Russia Geopolitics

Knowhow and partnerships key for investing in Ukraine, says ODU conference

September 14, 2021 - ODU - ECONOMY · In 30 years of independence, Ukraine has continually offered business opportunities for Dutch companies. At the economic panel of the anniversary conference hosted in The Hague by OpenDoorUkraine.NL (ODU) with support from the Embassy of Ukraine in the Netherlands, businessmen from both countries discussed the windfalls and pitfalls of investing in Ukraine.

OpenDoorUkraine.NL Netherlands Energy Reforms Agro-industry Agriculture Investments

Join the ODU conference “Ukraine's Place in Europe” ONLINE on September 14!

September 05, 2021 - To mark Ukraine’s 30th independence anniversary, the OpenDoorUkraine.NL foundation will hold a hybrid conference in The Hague on Tuesday, September 14, 2021, on the theme: UKRAINE’S PLACE IN EUROPE: Achievements and Challenges after 30 years of Independence. You are welcome to join this event online via livestream.

OpenDoorUkraine.NL Netherlands Business Geopolitics Politics

Ukraine and Netherlands share experiences in ODU cybersecurity webinar

June 17, 2021 - ODU - ECONOMY · Ukraine and the Netherlands have a lot to learn from each other on cybersecurity. That was apparent from a special webinar that OpenDoorUkraine.NL organised in co-operation with the Embassy of Ukraine in the Netherlands and The Hague Security Delta (HSD).

Donbas conflict OpenDoorUkraine.NL Netherlands IT Digital Webinar/Online

Free online webinar by OpenDoorUkraine.NL on privatization in Ukraine

November 04, 2020 - ODU - ECONOMY · How to privatize state-owned companies in Ukraine? OpenDoorUkraine.NL and the Ukrainian Chamber of Commerce and Industry will host a free online webinar on this issue for interested investors and businessmen from the Netherlands and beyond.

OpenDoorUkraine.NL Business Privatisation

New Central Bank boss vows to follow predecessor's path

July 29, 2020 - ODU - ECONOMY · 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).

Economy Business Central Bank IMF Privatbank Banking

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

June 10, 2020 - ODU - ECONOMY · 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.

Corona Economy IMF Reforms

Ekol Ukraine offers free logistics consultancy to ODU partners

June 01, 2020 - ODU - ECONOMY · 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.NL Business Logistics

ODU strikes partnership with event management agency ARENA CS

May 17, 2020 - ODU - ECONOMY · 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 Society OpenDoorUkraine.NL Business Event organisation

Free consultancy for Dutch enterprises from ODU partner Arzinger

May 15, 2020 - ODU - ECONOMY · 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.NL Business Law

No bank run from COVID-19

April 10, 2020 - ODU - ECONOMY · 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).

Corona Banking

Dutch investor to set up bioethanol plant in Kirovograd

February 19, 2020 - ODU - ECONOMY · 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.

Netherlands Business Agro-industry Kirovograd

Dutch and Ukrainians build feed plant in Lviv region

February 09, 2020 - ODU - ECONOMY · 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.

Netherlands Business Agro-industry Lviv oblast

National Bank of Ukraine reduces key policy rate to 11%

February 01, 2020 - ODU - ECONOMY · 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.

Economy Banking Interest rate Monetary policy

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

January 29, 2020 - ODU - ECONOMY · 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.

Economy EU Agriculture

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

January 27, 2020 - ODU - ECONOMY · 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.

Economy Prognosis

Teheran catastrophe hits Ukraine's flight industry at a high

January 09, 2020 - ODU - ECONOMY · 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

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

December 29, 2019 - ODU - ECONOMY · 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.

EU Energy Gas Russia Naftogaz

Ukraine gets $5.5 billion loan from IMF

December 11, 2019 - ODU - ECONOMY · 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.

Economy IMF Privatbank Loan

Ukraine parliament paves way for tax info exchange with USA

December 03, 2019 - ODU - ECONOMY · 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.

USA Parliament Tax

"Angels" invest in neighborhood social network Localhalo

November 30, 2019 - ODU - ECONOMY · 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.

Business Start-up Social network IT

Dutch-Ukrainian IT unicorn GitLab raises $268 million

November 28, 2019 - ODU - ECONOMY · 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.

Business Start-up IT

Agro-company Kernel places $300 million in Eurobonds

November 27, 2019 - ODU - ECONOMY · 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.

Business Agriculture

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

November 05, 2019 - ODU - ECONOMY · 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.

Economy Investments Mariupol Donbas

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

November 01, 2019 - ODU - ECONOMY · 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.

Netherlands EU Energy Gas Russia Naftogaz

Ukraine climbs up World Bank ranking of best places to do business

Oktober 27, 2019 - ODU - ECONOMY · Ukraine has moved up seven places in the World Bank’s 2020 ranking of best places to do business, now reaching 64th position. The country is thus continuing its ascension, having risen 48 places since 2014. New Zealand, Hong Kong, Singapore and Denmark head the list, while the Netherlands take the 42nd place.

Business Investments Construction World Bank

Registration of foreign companies in Ukraine made easier

Oktober 25, 2019 - ODU - ECONOMY · Registering a foreign company in Ukraine has become easier, thanks to changes introduced by the Cabinet of Ministers on October 24.

Business IT Registration

Court setbacks for oligarch Kolomoisky in PrivatBank battle

Oktober 23, 2019 - ODU - ECONOMY · 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.

Oligarchs Banking

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

Oktober 20, 2019 - ODU - ECONOMY · 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

Tourism to Ukraine is gaining traction

Oktober 13, 2019 - ODU - ECONOMY · 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

Kyiv Boryspil is Europe's second fastest growing airport

Oktober 10, 2019 - ODU - ECONOMY · 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.

Tourism Kyiv Aviation

Ukrainian company Grammarly raises $90m for AI language technology

Oktober 10, 2019 - ODU - ECONOMY · 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.

IT Artificial intelligence

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

Oktober 04, 2019 - ODU - ECONOMY · 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.

Privatisation Railways Postage Roads

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

Oktober 04, 2019 - ODU - ECONOMY · 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.

Privatisation Reforms Infrastructure

Ukrainian IT market heading for 30% growth in 2019

September 30, 2019 - ODU - ECONOMY · 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

EU tells Kyiv to get tough on tobacco smuggling

September 17, 2019 - ODU - ECONOMY · 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.

EU Tobacco Smuggling

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

September 06, 2019 - ODU - ECONOMY · 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.

Economy Corruption Privatisation Reforms Agriculture Infrastructure

President wants parliament to push through ambitious privatisation laws

September 04, 2019 - ODU - ECONOMY · 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.

Privatisation Reforms

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

September 03, 2019 - ODU - ECONOMY · 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.NL Netherlands Hoge Veluwe Economy Tourism Agriculture IT Lviv

Ukraine Days in De Hoge Veluwe, 31 August-1 September 2019

August 15, 2019 - ODU - ECONOMY / HUMANITARIAN · On Saturday August 31 and Sunday September 1st 2019, the National Park De Hoge Veluwe in the Netherlands will host the Ukrainian Days. This event, which will include public and cultural events, food and music from Ukraine, is organised by the Ukrainian embassy in the Netherlands.

Humanitarian aid OpenDoorUkraine.NL Netherlands Hoge Veluwe Economy

Former Warsaw mayor will be Ukraine's new Business Ombudsman

July 31, 2019 - ODU - ECONOMY · 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.

Corruption Business Transparency