CUCC launches Rebuild Ukraine Committee

Dear friends,

As the tensions between Ukraine and russia reached another record high last Fall and beginning of 2022 that to our regret lead to full-scale invasion into Ukraine, CUCC tried to help its members and UA & CA businesses by consulting them about ways to relocate businesses, overcome challenges and prepare BCP.

For the whole period since February 24, our team members based in Kyiv (with temporary relocation to Western Ukraine) and Toronto were ready to deliver.   For more than two months CUCC was the only Canadian organization with staff in Ukraine ready to help and monitor the situation.

Understanding that Ukraine not only needs military equipment and funding to win the war we also acknowledge that the country will face even tougher period of rebuilding its economy, infrastructure and investment flows, the Board of CUCC decided to establish the “Rebuild Ukraine Committee”.

The committee is comprised of CUCC board members, executive team & willing member companies representatives. Participation is open and based on willingness to bring and execute new ideas and challenging projects that might be presented to the Government of Canada for funding and further implementation. Committee’s main focus areas are Investment flows, Construction, Agriculture, Oil&Gas, Energy, and ICT. Members meet biweekly, reporting on the progress reached and further steps.

Should you wish to join Committee’s activities please contact Sviatoslav Kavetskyi or Olha Mandyuk.

CUCC President Zenon Potoczny participated in Independence Day of Ukraine Celebrations

President of Canada Ukraine Chamber of Commerce Zenon Potoczny visited Ukraine to participate in celebrations of 30 Independence Day of Ukraine.

On the grounds of numerous events dedicated to the anniversary, he met President of Ukraine Volodymyr Zelenskyy, Prime Minister of Ukraine Denys Shmyhal, Speaker of the Parliament Dmytro Razumkov and a number of other high officials.

Presentations from the Development of Extractive Industries in Ukraine event

On April 22, 2021 CUCC in cooperation with US-Ukraine Business Council (USUBC) hosted a webinar “Development of Extractive Industries in Ukraine”. More information about the event, including a recording you may find here.

An event gained a big audience and as a response to numerous requests, we are posting the presentations of the event speakers:

1. Presentation by Sergiy Tsivkach, Executive Director of UkraineInvest

UkraineInvest

 

2. Presentation by Taras Yeleyko, Deputy Chairman of the State Property Fund of Ukraine

SPFU

 

3. Presentation by Roman Opimakh, Head of State Service of Geology and Subsoil of Ukraine

Derzhgeonadra

Should you have more questions please inquire at skavetskyi@cucc.ca

Statement on the case between TIU Canada and the Nikopol Ferroalloy Plant (NFZ)

The Canadian-Ukrainian Chamber of Commerce (CUCC) continues to closely monitor developments surrounding a lawsuit in which the Canadian renewable energy investor TIU Canada is defending its rights against the Nikopol Ferroalloy Plant in connection with the illegal shutdown of its Nikopol solar power plant from the power grid.

The company, also a member of CUCC, appealed the initial decision of the Commercial Court of Kyiv. The first hearing in the appeal process was supposed to take place on April 12, 2021, but was postponed due to the judge’s illness and a reported bomb threat towards the Northern Commercial Court of Appeal in Kyiv. The next meeting is scheduled for May 17, 2021, at 11.40 AM. According to TIU Canada, they are fully committed to asserting their rights, including with the Supreme Court of Ukraine.

As the largest Ukrainian Canadian business association, we cannot stand aside and express our hopes that the rule of law will prevail in this matter. What is also important is the continued public discourse this situation has gained abroad, especially in Canada, where high-ranking politicians have published direct statements on the matter. This continued attention may cause further negative impacts on Ukraine’s investment image and exacerbate the tendency to reduce foreign investment due to further negative signals regarding the investment climate.

We call on the Government of Ukraine to bring further attention to this case, promote equal conditions for doing business for all stakeholders in compliance with the norms and provisions set forth in the legislation of Ukraine. We also call on the Government of Ukraine to adhere to their own prior public statements on foreign investment protection.

Development of Extractive Industries in Ukraine

April 22, 2021, marked an unprecedented online discussion of 2021 development opportunities for Ukraine’s extractive industries sector between UkraineInvest, State Geologic and Subsoil Survey of Ukraine and State Property Fund of Ukraine and mining business representatives and investors.

The discussion was opened by Zenon Potoczny, President, Canada-Ukraine Chamber of Commerce (CUCC) and Morgan Williams, President/CEO, U.S.-Ukraine Business Council (USUBC) and moderated by Morgan Williams and Emma Turos, Managing Director for Ukraine, CUCC.

The event was attended by over 300 participants representing the North American and global investment community.

Sergiy Tsivkach, UkraineInvest’s Executive Director, made a presentation on the role and activities of UkraineInvest as an investment promotion agency and the institution designated to provide support for investment in Ukraine, as well as on investment climate improvements, recent regulatory developments, and work in the regions in various fields.

Roman Opimakh, Director General of the State Geological and Subsoil Survey of Ukraine presented investment opportunities in the subsoil sector of Ukraine and Taras Yeleyko, Deputy Head of the State Property Fund of Ukraine, made the presentation on state property privatization objects in Ukraine’s extractive industries sector.

The presentations were followed by a lively and candid discussion with the participation of three companies who already invested in operations in Ukraine and are at various stages of their projects. The business community noted the progress which Ukraine has made recently in oil & gas upstream, mining and other areas and confirmed interest in further exploring investment opportunities which Ukraine has to offer.

The top management of the state agencies and the business community agreed to continue discussion of and cooperation in resolving various issues which are important for international and domestic businesses alike to further improve Ukraine’s attractiveness for investment.

The recording of the event is available at USUBC’s YouTube channel: https://www.youtube.com/watch?v=Pv2fd5fvFKg

Kherson region of Ukraine presentation

Dear all,

We would like to share with you the presentation of the Kherson region of Ukraine that was shared with the CUCC during the International Council of Business Associations and Chambers (ICBAC) where our Managing Director-Ukraine Emma Turos is currently serving as a General Secretary.

Should you have any questions regarding the presentation or would like to contact Kherson region investment office, please contact our team at info@cucc.ca

3. Презентація Херсонської області_eng

Ukraine-Canada Opportunities information session

Friends,

We would like to invite you to the online information session “Ukraine-Canada Opportunities”, organized by CUCC in partnership with the Province of Manitoba, Canada and WTC Winnipeg, that will take place on March 03, 2021, at 18.00 CET (10 AM CST). This event is addressed first of all at the Canadian business but may be of interest for Ukrainian entrepreneurs as well. Speakers are the representatives of Ukrainian Embassy in Canada and the Canadian Embassy in Ukraine, AGI, UkraineInvest and the CUCC team. To find out more, click the link

We would like to take this opportunity and announce the next online event with the Province of Manitoba, which is aimed at Ukrainian businesses and will take place at the beginning of April. More details on this event will follow.

Emma Turos, CUCC and ICBAC members met with the Head of State Property Fund of Ukraine Dmytro Sennychenko

The meeting was dedicated to discussion of a proposed amendments to the Law of Ukraine “On State Property Fund of Ukraine” and other legislative acts of Ukraine to promote investment through privatization and lease of state property”.

The purpose of the bill is to accelerate privatization by: improving the institutional mechanisms of privatization, establishing an efficient organizational structure of State Property Fund of Ukraine and clarifying certain aspects of legislation concerning privatization and corporate governance of state assets to ensure effective and responsive management while an SOE is being prepared for privatization.

According to Dmytro Sennychenko, Head of State Property Fund of Ukraine, suggested novelties will allow to protect state property rights, interests of foreign investors and make the privatization procedure more user-friendly. The Fund expects to attract a record sum of 12 bln UAH from privatization in 2021.

We will continue to follow the news on this.

More info on this meeting (in Ukrainian) http://www.spfu.gov.ua/ua/news/7179.html

New General Secretary of ICBAC – Emma Turos, CUCC-Ukraine

On January 25, 2021 Alfred F. Praus, President of the Ukrainian-Austrian Association, after serving for two years as ICBAC General Secretary, handed over the General Secretariat of the International Council of Business Associations and Chambers in Ukraine, which is rotated yearly, to Emma Turos, Managing Director of the Canada-Ukraine Chamber of Commerce.
We are looking forward to a fruitful and interesting work within the ICBAC framework and new projects to be completed. Stay tuned.

http://icbac.org/

H&M to open stores in Ukraine in 2018

Swedish clothing brand H&M will open its first store in Ukraine in 2018. The information appeared in the company’s six-month report for 2017.

“New H&M store markets planned for 2018 are Uruguay and Ukraine,” the document read.

H&M has been one of the most anticipated international brands in Ukraine, along with Ikea. Rumours of its entrance have been circulating for many years, but this is the first-ever official confirmation of such plans.

This spring H&M entered the markets of Kazakhstan and Colombia, and the brand has been a success there, according to the report. New openings are planned in Iceland, Vietnam, and Georgia.

The company also reported 9 percent growth in sales to over $13.3 billion during the first six months of 2017.

H&M (Hennes & Mauritz AB) is now present in 69 countries and is the second largest retailer in the world after Spanish Inditex Group. It includes H&M, COS, & Other Stories, Monki, Weekday, and Cheap Monday as well as H&M Home.

Another anticipated Swedish brand, homeware manufacturer Ikea, also has set its eye on Ukraine.

In early June the representative of the company told the Kyiv Post that Ukraine was “one of the markets that Ikea is exploring for expansion opportunities.”

Source: kyivpost.com