The development of Ukraine’s infrastructure is a priority of the Ukrainian Government. This sector inherited outdated soviet capacities and needs urgent modernization. After all, it determines the development of the state’s export and transit capabilities. The standstill is disruptive when the issue is of strategic merit and national significance. The legal background is fundamental to driving this process, and at least the relevant legislation is on its way for final approval.
Kateryna Chechulina, Anatolii Doludenko
In August of this year Ukraine will celebrate the 27th anniversary of its independence. During this relatively short period, Ukraine has progressed in its development, as a country and nation, and continues to take steps to ensure further growth. However, there is still a lot of work to do for the country to succeed. One of the areas of huge importance to help Ukraine move forward is its infrastructure.
Vladlena Lavrushynа, Volоdymyr Yaremko
Development of the road infrastructure is vital in promoting economic growth of the countries. Progressive policy regime and legal framework regulating the road sector can go a long way in bringing various competitive advantages to the country and greater efficacy for society in general. Managing and conserving the roads is one of the main tasks many states currently need to face, while some of them need to consider it as an urgent priority.
Sergey Silchenko, Оlena Khytrova
Last year, the Ukrainian Parliament changed the principles of healthcare funding. The first stage of implementation of these changes will begin on 1 July 2018 — any medical institution (private and municipal clinics or independent doctors) will be able to receive state funds for primary care medical services provided to patients (family doctors, therapists, pediatricians). This funding will be provided under a contract with the National Healthcare Service of Ukraine (NHSU). Also, after January 2020, the rules of secondary healthcare financing will be changed too. Experts estimate this market at 8 billion dollars.
Katja Šumаh, Anastasiia Pоels, Žan Klоbasa
We used to think that waste is something we need to get rid of; once we take it out of our house — we no longer care about it. And then we see enormous waste landfills occupying the space that otherwise could be used for recreation, infrastructure, etc. How much would we pay in order to eliminate those landfills, to have a clean lake in the neighbourhood?
Sayenko Kharenko advised on largest corporate refinancing by Ukrainian firm
Acquisition of 50% of Matlomenius Holdings by VR Capital Group
Sarantis Group acquires Ergopack
Fox News to pay USD 10 million against employees' claims
Cambridge Analytica files for bankruptcy
Ukrainian millionaire Mykola Lagun to go to court against Belarus
Court upheld Odessa Oil Refinery Plant’s nationalization
Moratorium on sale of land in Ukraine restricts proprietary rights
Draft Law on formation of Anti-Corruption Court
Verkhovna Rada adopted Law On Currency in the first reading
Export duty on scrap metal increased
Procedure for procurement of energy services regulated for ProZorro
Updated terms and conditions for issuing licenses tied to using foreign currency as payment
Antares rocket launched
Google cooperates with Kiev City State Administration
China proposed set of measures to USA to cut trade deficit
EuroChem leaves Ukraine
Beskyd railway tunnel unveiled
Naftogaz hikes price of gas
What should the banks do to take the path of innovation?
On May 16 the American Chamber of Commerce in Ukraine held the Round Table “Ukraine on the Path of Privatization” jointly with Chamber Member Company INTEGRITES. The event was moderated by Dr. Oleksiy Feliv, Managing Partner of INTEGRITES, Co-Chair of the Chamber Infrastructure Committee.
The public discussion around the critical need to invest in Ukraine’s infrastructure was especially vibrant last year. According to various estimates, its modernization requires the spending of at least USD 30 billion by 2030. Moreover, delivering these projects on time is critical if Ukraine wants to fulfill its logistics potential. The Government’s ambitious plans are justified as infrastructure investment causes a “multiplier effect” throughout the national economy. We asked Oleksandr Kurdydyk, partner, head of finance, projects and restructuring, and Kateryna Soroka, of counsel, DLA Piper Ukraine, how the sector attracts investors and what their requirements towards comfortable regulation are.
Olga Belyakova, Mykola Heletiy
In recent years cybersecurity has become a hot topic in Ukraine, and for good reason. On 27 June 2017 a massive cyberattack known as Petya/NotPetya hit the Ukrainian Government, private and state banks and numerous companies in the space of hours, and then spread to computers worldwide. Eighteen months before this, nearly a quarter of a million people in Western Ukraine lost electricity after the Ukrainian power grid was hacked.
The last few months have seen new legislative changes and developments in various dimensions of business regulations. In this section the UJBL editorial team has enlisted the help of experts to comment on some of them. Our latest digest includes, to a greater extent, initiatives that touch upon requirements of the internal policies of banks for asset evaluation and calculation of credit risks; new rules for receiving loans from non-residents and procedure for granting permits for transferring funds to foreign bank accounts; procedure for issuing individual licenses for using foreign currency as a payment instrument; methodology for working out criteria for risk assessment of businesses; foreign exchange regulation and more.
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