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GDP:   $106.5 billion
GDPPC (PPP) $6300
Population: 47 million
Exch rate to $: ~ 8.00 Hryvnia
Area: 603,700 sqkm
Arable Land: 53.8%
Legal System: Civil law
Labor Force: 22.67 million
Major Exports metals
Major Imports fuel, energy

Business Information

Ukraine Organic Food Shop

Dear Friends,

We have good news for all of you, who are keeping a healthy life style and are looking for pure organic food.

We have opened the 1st organic food shop in Ukraine.

It's the result of a 4-year joint project for "Green tourism and organic food production business opportunities for women in rural areas."

During the project we created some eco-farms in different regions of Ukraine.
All farmers have learned from international eco-standards and organic food production in Ukraine and Poland.

Some of them passed 1-month internships with the Polish Agricultural Association.

And now, with the cooperation on many people, we have opened the 1st Ukrainian organic food shop in Kyiv.

Welcome to the first organic food shop

Eco farm Kyiv's field. Here you can get:

-      organic vegetables & fruit
-      coarse grinding whole meal
-      natural vegetable oils
-      recommendations of dietitians
-      recipes for healthy kitchen
-      environmental impact assessment
-      information for organic farming.  

Address of the food shop:

2 Baseyna str., Besarabsky market
Phone for pick-up: 8 067 3988064

Sincerely yours,
Lyudmyla Vesper
Head of the Board of International NGO  "For the ballance in society"

Rivne Market Opportunities:

Rivne: The Right Investment Location (published by


Renewable Energy in Ukraine
Today and Tomorrow
Potential #2 (3) 2006

Renewable Sources of Energy in UkraineThe U.S.-Ukraine Foundation marks the 20th anniversary of the Chornobyl nuclear disaster with the publication of this report by Ken Bossong, co-director of the Ukrainian-American Environmental Association.
Since the Chornobyl accident, Ukraine became an independent nation and has now experienced democracy for nearly 15 years. However, a serious threat today to Ukraine and her independence is energy itself.

As the author writes, "the system of producing and consuming energy in Ukraine poses a range of very serious national security, economic, environmental, and public health problems for the country and its citizens."

Mr. Bossong has produced a compelling analysis on Ukraine's energy situation and its potential for the future. The U.S.-Ukraine Foundation is proud to share it with you.

[Read the full story in English]
[Read the full story in Ukrainian]


Perry Construction – Americans in Ukraine

Potential MagazineMichael Perry and his staff of three founded Perry Construction in 1995, one of the first construction companies founded by Americans in Ukraine, with a small $200 loan. Today, Perry Construction is well established and boasts one of the largest and most comprehensive construction staffs in the market. It has a broad geographic presence with jobs in 13 cities around Ukraine. The company has successfully completed over 200 projects in Ukraine, more than 95% of active builders. Perry Construction has won over 80% of the tenders they have entered, much of the time by offering the lowest overall bid, sometimes by as much as a 50% margin when bidding against some very difficult competition. To learn more about this successful company, Potential interviewed Michael Perry, President of Perry Construction.

[Read the full article in English and Ukrainian]


Ukraine’s Obolon Beer --
Its Success Brews Great Export Potential
Potential #1 (3) 2006

Obolon Beer in UkraineWhen a new brewery was built near Kyiv in 1980, who could have dreamed that in two decades this business would be a company of European quality? Today Obolon is a Ukrainian closed joint-stock company that, in addition to operating its main brewery in Kyiv, controls numerous subsidiaries all over Ukraine. Production has increased tenfold. A complex overhaul of existing facilities has allowed the company to replace obsolete technology with cutting edge high-tech equipment.

This last year Obolon celebrated the 25th anniversary of its founding as the leading domestic brewer, controlling 25.8% of the Ukrainian beer market. The company exports its products to markets in over twenty countries. Obolon makes up close to 90% of total Ukrainian beer exports, and its exports increase every year.

In the following interview for Potential magazine, conducted by the U.S.-Ukraine Foundation’s Taras Mazyar, Oleksandr Slobodian shares his thoughts about the potential of Obolon and Ukraine’s brewery business.

[Download the article in English]

Potential Magazine






Standard & Poor’s Credit Ratings and Country Report Card for Ukraine
Click here for the Country Report Card


United Nations tenders for potential subcontractors to do projects in Ukraine.


Ukraine Industrial

Ukraine Industrial is the largest information resource about the industry of Ukraine. More than 41000 enterprises in spheres of manufacture, trade and services are submitted on a Russian-speaking server "Ukraine Industrial" and gradually they will include more enterprises in the English-speaking version. They seek to show Ukraine as the new market, as territory of huge opportunities for the organization and business dealing.



U.S. government's primary resource center for U.S. companies exploring business opportunities in Russia and other Newly Independent States. BISNIS provides U.S. companies with the latest market reports and tips on developments, export and investment leads, and strategies for doing business in the NIS. Since opening in 1992, BISNIS has facilitated more than $3 billion worth of U.S. exports and overseas investments.



BIZPRO’s goal in Ukraine is to help enterprises compete in foreign and domestic markets by working at the enterprise, sector, and policy/legal level. In Belarus BIZPRO implements the CAP/CIPA accounting program and engages a local think tank to provide economic analysis designed to generate and inform public/private dialogue. BIZPRO contributes to the economic development of Moldova by providing assistance that improves the ability of small and medium-sized enterprises (SMEs) to operate and compete in local and external markets.


Price Waterhouse Coopers

PWC Online Business Guide is a free resource for business professionals seeking information and advice about doing business in Ukraine. It is in English, Russian, and Ukrainian. Price Waterhouse Coopers Online Business Guide is a free resource for business professionals seeking information and advice about doing business in Ukraine. It is in English, Russian, and Ukrainian.


Consulting Services:

Big Fish Interactive Inc.
Big Fish has provided international customized leadership development programs, executive training sessions, workshops, motivational speeches, and seminars since 1995. Please contact Lida Preyma, Business Development & Facilitation Manager at
Big Fish has worked with Proctor & Gamble, the Business Development Bank of Canada, Bombardier, Mars, Heinz, Pepsi, the Heart & Stroke Foundation, and dozens of other leading organizations, including federal and provincial governments.
For more details, visit


Consulting Union "Navigator" (established in 1999).
The representatives of the different projects, companies, corporations and firms, best practice workers, are gathered in our company. Thus, Consulting Union "Navigator" was formed for the purpose of joining into one unit a command of like-minded persons and partners to fulfill any task set to us by any customer.
We are actively working in the legal and economical fields, in general - in the field of management - consultation, realizing in our activity a principle of integral service approach, granting consultations, which solve problems and questions of our customers to their maximal satisfaction.
Contact Details:Tel.: +38044-279-5923, +38044-537-63300; E-mail:
Post address: 16/3 Mala Zhytomyrska St, office 4
Kyiv, 01001, UKRAINE


The Deane Group (Ukraine).
The Deane Group provides consultancy and business services to companies operating within the oil and gas industry in Ukraine and to foreign or Ukrainian companies wishing to establish new oil and gas businesses in Ukraine. Dr Jim Bown is the owner and General Director of The Deane Group (Ukraine), which is a Ukrainian company established in June 2000.
DG has extensive experience in the global energy industry, having worked for more than 25 years with British Petroleum (BP) in the international oil and gas sector.

Contact Details:
The Deane Group (Ukraine)
Suite 42
34A Grushevskogo Street
Kyiv 01021
Office Tel/Ans: +38 044 253 5334
Office Fax/Ans: +38 044 230 2151
Office Cellphone: +38 050 310 3590


Tesla2, Inc.
"Discovering Solutions with People"
Company was established to assist industry professionals improve profitability and productivity for their facilities. Let us help YOU make YOUR business stronger!
During our investigations, we find many opportunities to reduce work in process, reduce cycle times, eliminate rework operations, reduce customer complaints and improve productivity.
It is Tesla 2 philosophy that there is no 'magic bullet' or secret prescription to improve the performance of a company, so we use a toolbox of more than 70 tools that we selectively apply to each segment of the problem to optimize the total performance of your system.
Focus is the rapid identification and implementation of solutions in industry.
Goal is to make positive and lasting impact to an organization's bottom line within 90 days!
Experience spans the complete product cycle; from conception to the final customer's use.
Contact Details: Mark Warren:


D'Artur TransConsult LLC
Based in Kyiv Ukraine is a team of local business consultants which cooperate on multiple issues with the foreign community doing business in Ukraine.
They specialize in investment, legal presence establishment, translation,interpreting, developing start up business plans for newcomers. Even if you are a seasoned veteran at home in Ukraine you are a newcomer.
Contact details:
Yuriy Alatortsev
E-fax: + 1 (206) 238 25 27
Telephone: + 380 67 235 01 69


Reut Consulting
Reut Consulting is a Virginia-based trade and consulting group with representatives in major Ukrainian regions. The main sectors of activities are the construction industry, agricultural equipment and products, consumer products. Reut Consulting provides a variety of services to U.S. companies interested in expanding into the Ukrainian market, including: Market Research, Entry and Development, Business Representation, Identification of Suppliers, Advice on Privatization and Investment Strategies, Assistance in International Transactions, Contract Negotiations, Coordination of Production and Shipment, Translation of Documents and Correspondence.
Sashko Reut, Chairman - Phone: 540-271-3603, or just send an email to


Intrade Ontario Group
IOG offers assistance and expertise to US companies interested in the emerging Ukrainian market.
Services: Business and warehouse facilities in Kyiv (the capital of Ukraine) and Zaporizhzhia (an industrial center in the eastern part of Ukraine); Performance of representation/agent functions: facilitation of contracts for foreign partners, including credibility check and contractual negotiations; Planning and control of promotional actions in Ukraine; Financing small and medium shipments.
Contact: Olexander Gerasimchuk, Ph.D.
Office in Canada:
1750 Steeles Ave. West, Unit # 215
Concord, ON L4K 2L9 , Canada
Phone/fax: +1-905-248-3064
Office in Ukraine:
Phone: +38-061-220-5504, +38-061-2200491
Fax: +38-0612-133159
Cell: +38-050-5922348
For further details:



Financial Information

WNISEF Creates Horizon Capital, a Private Equity Fund Manager
Natalie Jaresko, President and Chief Executive Officer of Western NIS Enterprise Fund (WNISEF), announced the creation of Horizon Capital, a private equity fund manager, and plans to raise a second private equity fund.
Initially, Horizon Capital will manage one fund, Western NIS Enterprise Fund (WNISEF) capitalized with $150 million, and intends to raise a second fund in the near term. Other East European Enterprise funds established by the U.S. Government in the early 1990s to support small- and medium-sized businesses underwent a similar transformation. WNISEF's ten-years of successful investments have proven that profitable, transparent, well-governed investments can be made and realized in Ukraine.
The results of a study of the economic impact of ten WNISEF portfolio companies on the economies of Ukraine and Moldova conducted by GfK-USM and the International Center for Policy Studies (ICPS) in June 2005 show that every dollar invested by WNISEF in the local economies created additional economic value in the economy of almost $9 dollars.
Horizon Capital ( is a private equity fund manager that will manage private equity investments in mid-cap companies with outstanding growth and profit potential in Ukraine and Moldova. The company's strategy is aimed at identifying the most promising management teams in rapidly growing industries.
WNISEF ( is a private equity fund that invests in mid-cap companies in Ukraine and Moldova. WNISEF invests in enterprises with outstanding growth potential and the ability to build competitive advantages in the marketplace. WNISEF provides its portfolio companies with capital and the necessary management tools. Since inception, the cumulative investment commitment of WNISEF totals to $97.8 million in 26 companies in Ukraine and Moldova.
Contact Details:
Oksana Rudiuk
External and Corporate Relations Manager
Phone: +380 (44) 490-5580
Fax: +380 (44) 490-5589


PFTS Stock Trading System
PFTS has been in operation since 1996 and currently is the largest marketplace and self-regulatory organization in Ukraine’s stock market. For more information and up to date information in English and Ukrainian on trading sessions and more go to:

Dragon Capital
Dragon Capital was established in April 2000 in Kyiv as an independent investment bank dedicated to helping Western portfolio and strategic investors succeed in the challenging business environment of Ukraine's capital markets. The company was founded by a group of Ukrainian and Central European market veterans, who had worked for Wood & Company, a leading regional investment bank. They are involved in sales and trading, research, and corporate finance services. For more information and contacts go to:

Ernst & Young
Ernst & Young services in Ukraine including assurance and advisory business services, tax services, legal services, and transaction advisory services, has a new Tax News document, as well as Law Brief newsletter. These, as well as other information on their services can found at this site:

ING Bank in Ukraine

Deloitte & Touche CIS
Deloitte & Touche CIS holds seminars, conferences and workshops throughout the year. If you are interested in finding out more, please use the search facility below for details on forthcoming events. They also host regular IAS/IFRS training seminars in our training centre.
Training Center Coordinator:
Elena Domotenko
+38 (044) 490 9000


Outsourcing to Ukraine: What to Expect?

Resources: - IT and High-Tech Outsourcing to Ukraine - Website development and Internet marketing company, Kyiv, Ukraine

Naples, FL, USA & Dnipropetrovsk, Ukraine, November 6, 2006 (XTVWorld.Com) -- As Eastern Europe gathers pace as IT outsourcing direction, Ukraine is becoming an important industry's player. The country's outsourcing turnover grows by 200-300% annually. Progressively more foreign customers choose to outsource their IT projects to Ukrainian companies. Still both customers and outsourcing service providers realize that a number of problems are to be solved. At UOF - one of the most important outsourcing events in Eastern Europe - the most burning problems were uncovered and discussed.

Decentralization of Outsourcing Industry UOF 2006 showed that Ukraine tends to decentralization of outsourcing industry. One of the Forum's sections was devoted to regional outsourcing companies. Along with the country's capital, Kyiv, there are some powerful outsourcing regions in Ukraine: Kharkiv Region, Odesa Region, Donetsk Region and Dnipropetrovsk Region. Representatives of regional companies as well as customers discussed the problems and potential of IT outsourcing in these locations. So, here are some ideas on outsourcing IT projects to Ukrainian regional companies based on the report presented by TechnoPark Corp. - IT Outsourcing Company based in Dnipropetrovsk. First of all, who are the actors of Ukrainian regional outsourcing market? In each outsourcing region, 10- 50 software companies operate. There are no big companies. The average staff is 50-100 employees with only a few companies employing 100+ personnel. Naturally, there are no big customers. Traditionally, medium and small businesses outsource their projects to regional companies. Obviously, most regions are far below their potential yet. The figures show that there are 6 high schools and 3 IT-education companies providing about 1500 graduates annually in Dnipropetrovsk. The figures are similar for most outsourcing regions of the country.

"Availability of high-class programmers doesn't assure high quality of project implementation. Well-organized process is what every company needs for success," says Anna Stetsenko, HR Director at TechnoPark Corp. By way of discussion all participants agreed that organization, planning and phasing are vital for offshore IT outsourcing. Anna Stetsenko spoke about the TechnoPark Corp's experience: "This year we have implemented RUP-based development process. With RUP we are on the same wavelength with our foreign customers and they are happy to understand our process." According to TechnoPark Corp., good process includes communication skills (language skills and business etiquette), culture of collaborative work, dissociation of roles within a project, good modelling skills and quality assurance. "We are working over each of the issues. Still all of us have a lot of things to do. Now it is easier for us as we see the goal and see the hurdles," - Anna Stetsenko adds up. Process has long been a problem for most Eastern European companies. The UOF 2006 indicated the positive shift: Ukraine starts to employ the world-recognized practices and methodologies thus becoming more attractive for customers.

Customer-Driven Model
Customer-oriented model is probably the only way for regional companies to compete with big Kyiv outsourcing service providers having greater staffs and marketing opportunities. TechnoPark Corp. presented their ideas about customer-driven process. Customers' expectations are mainly about quality: quality of process, quality of relationship, quality of deliverables and quality of price. According to the presentation, focusing on these issues must be the main target of regional companies while working over projects. Some practices which have been successfully implemented by some Ukrainian companies were highlighted during the discussion: the establishment of local policy and standards either within a company or within the whole region; internal testing and certification; training for employees; corporate culture. Along with the process, customers are interested about prices.

Budgets for outsourcing projects in Ukraine are much lower than those in India, China, Russia and other outsourcing leaders. Recently head-hunting was on the verge of drawing a price-raising. In order to lure high-class engineers away, companies had to offer higher salaries. Thus, the thread of increase of project costs occurred. UOF 2006 assured that customers have nothing to worry about. The idea of creation of Anti-hunting Lawbook in order to fight off the unfair HR activities was accepted enthusiastically. Forum participants believe that it will help to keep prices down and assure stability of companies' operation.

Ukraine is no more a dark horse for global outsourcing industry. Since 2000 when the first pilgrims had tried Ukrainian software development services - and some had failed, companies have gained much experience in both project implementation and customer relationship. Because of the lack of companies with large staff, Ukraine is not a country for time- consuming projects. Instead, due to powerful intellectual potential the country is focused on small and medium-size R&D projects. Now customers should pay attention to the Ukrainian regional IT outsourcing companies which go overboard to attract customers. They have good chances to become competitive players in the nearest time as long as they offer low prices sticking heels in the quality of deliverables.

Contact: Victoria Malinovskaya, TechnoPark Corp.


U.S.-Ukraine Business Council

For Further Information:
Morgan Williams, President
U.S.-Ukraine Business Council
Washington, DC 20006