Kyiv Post Doing Business
For this year's fourth annual Doing Business guide, the Kyiv Post decided to get out of the capital and check the economies of the four major regional centers of Lviv, Odesa, Dnipro and Kharkiv. More than 25 percent of Ukraine's 42 million people live in these four oblasts. These economic hubs also account for nearly 30 percent of Ukraine's $110 billion annual economy.
We found a mixed picture: Big optimism in Lviv, closest to the European Union; untapped potential in Odesa, the southern Black Sea port; municipal leaders determined to rebuild southeastern Dnipro; and a big recovery taking place in eastern Kharkiv.
Overall, the trends reflect what's happening in Ukraine’s economy — a return to growth, just not fast enough as vested interests continue to resist the changes to make the economy truly competitive, robust and investor-friendly.
Yet the trend is positive. Ukraine is weaning itself away from dependence on Russia, stifling regulations, a crooked banking system and a shadow economy. Entrepreneurs are expanding and finding new markets, yet overall foreign direct investment remains stuck at about $2 billion in 2017 with prospects not much brighter in 2018.
In this 80-page issue, we have exclusive opinions from the International Monetary Fund’s Resident Representative in Ukraine Goesta Ljungman, European Union Ambassador to Ukraine Hugues Mingarelli and journalist, author and entrepreneur Diane Francis. These are three of the most astute observers of Ukraine. They assess strengths as well as challenges that still need to be overcome.
We also take a look at the energy, infrastructure, agriculture, automotive, legal services and banking sectors.
All in all, the biggest hope is that Ukraine’s small and medium businesses will flourish to such a degree that they will shrink the power of monopolies, bring more innovations and hold the government responsible for building a stronger Ukraine.
We are happy to bring you our fourth annual Kyiv Post Doing Business magazine, one of our most successful publications.
Besides the customary look at the major sectors, we decided to expand our coverage into the biggest regional hubs where much of the nation's economic activity takes place. You can expect more nationwide coverage from the Kyiv Post in the future as the newspaper seeks to help Ukraine attract more investment, support investors and work towards greater prosperity for everyone doing business in this great nation.
Our special thanks go to all advertisers, but particularly to our section partners - Corteva Agriscience, Huawei, CITI, VKP, Onur Group and MAN. These advertisers make independent journalism in Ukraine possible. Enjoy this useful and timely guide!