#6 June 2018

In focus – Infrastructure

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 This sector inherited outdated soviet capacities and needs urgent modernization.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.

Expert Opinion

Concession: New Hope

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.

In Re

An Abstract on Road Reform in Ukraine

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.

Medical Assets: Management, Investment and Energy Efficiency

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.

How Slovenia Implemented EU Standards on Waste Management

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?

News

Deals

Sayenko Kharenko advised on largest corporate refinancing by Ukrainian firm

Acquisition of 50% of Matlomenius Holdings by VR Capital Group

Sarantis Group acquires Ergopack

 

Cases

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

Draft Law on formation of Anti-Corruption Court

Verkhovna Rada adopted Law On Currency in the first reading

Export duty on scrap metal increased

 

Law digest

Procedure for procurement of energy services regulated for ProZorro

Updated terms and conditions for issuing licenses tied to using foreign currency as payment

 

Biznews

Space industry

Antares rocket launched

On-line services

Google cooperates with Kiev City State Administration

 

Trade Policy

China proposed set of measures to USA to cut trade deficit

EuroChem leaves Ukraine

Transportation

Beskyd railway tunnel unveiled

Oil & Gas

Naftogaz hikes price of gas

Banking & Finance

What should the banks do to take the path of innovation?

Chamber News

Ukraine stands firmly on the Path of Privatization

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.

Cover Story

Changing Fortunes

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.

Argument

Cybersecurity: Legal Challenges for Businesses in Ukraine

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.

Crux

Legal Digest

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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