CONTENTS
Editor
Peter Kovalenko
editor@ukrainebusinessinsight.com
Editorial Contributors
Petro Shamborovskyy Stephen Komarnyckyj Aleksandra Nekrashchuk Svitlana Pyrkalo Sergii Bovtenko Yuri Botiuk Oleg Lysenko Victoria Masna Alex Podoynitsin Tim Jakeman
Editorial Correspondence
editor@ukrainebusinessinsight.com
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Svitlana Barnes
Email:
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ukrainebusinessinsight.com Tel: +44 (0) 7746 184 945
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UkraineBusiness
insight
News Analysis: Election Investors Economic Analysis Legal Profile Renewable Energy
Report – Biogas offers opportunities for investment in the Ukrainian renewable energy sector
Report – Wind development is well underway on the Crimean peninsula
Real Estate
4
4
Despite parliamentary disputes, the Yanukovych victory has been greeted by the international community as ushering in stability
6
UBI interviews InvestUkraine’s director Olena Hantsyak Kaskiv to see what incentives are on offer for businesses considering setting up in the country
9
Consolidation continues in the aftermath of the economic crisis, with fall-out in the bank sector, but economic indicators are now improving and the worst appears to be past
14
How you structure the deal is critical to success in Ukrainian investing, especially for overseas companies new to the market
16
Firtash – power broker. As Ukraine normalises, and today’s oligarchs become tomorrow’s industrialists, we look at this dominant player in Ukraine’s gas sector
Report – UBI visits Crimea’s solar energy pioneers
18
18
21 25
27
After crashing from dizzy heights, Ukraine’s real estate prices are picking up once again – but is it a false dawn or the time to buy?
EBRD Interview
UBI talks to the EBRD about its support for infrastructure development in the run-up to EURO 2012
Construction
International consultants HPR aid Ukraine’s highway development
MBAs Special Report
Also:
Editorial Comment p5; Economic Comment p12; Banking Comment p13; Business Opportunities p42; Events Diary p35
June 2010 UkraineBusiness insight 3
37
What is the value of an MBA for Ukrainians, at home and abroad? Is it a passport to career advancement?
36 33
Firtash – an enigmatic force
19 16
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