Kyiv Post Do­ing Busi­ness

Kyiv Post Legal Quarterly - - News - Brian Bon­ner, Kyiv Post Chief Ed­i­tor bon­ner@kyivpost.com Ilya Timtchenko, Kyiv Post Busi­ness Ed­i­tor timtchenko@kyivpost.com Aly­ona Nevmerzhyt­ska, Kyiv Post Com­mer­cial Di­rec­tor nevmerzhyt­ska@kyivpost.com

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!

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