Facts & Advantages of Ukraine Economic indicators, priority sectors and important developments

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1 Facts & Advantages of Ukraine Economic indicators, priority sectors and important developments Lars Flottrong Director-Partner, SCHNEIDER GROUP Vienna March 27 th, 2017

2 Country Information Territory: about 600,000 sq.km. Bridge position between West and East Access to the black sea with own ports Former bread basket of the USSR One of the most fertile regions in the world! 2 accounting ERP import legal tax

3 Ukraine: Facts 42.5m population; 68.4% of it urban (yearly decrease of ~200K) Main cities: Kyiv, Kharkiv, Odessa, Dnipro, Donetsk, Zaporizhia, Lviv (top 7 cities about 20% population) High education: 76% (10 th place world-wide)! Average salary: in the range of USD 185 per month! accounting ERP import legal tax 3

4 World Bank DB Ranking Topics Ukraine Russia Poland Belarus Starting a Business Getting Credit Registering Property Protecting Minority Interests Paying Taxes Trading Across Borders Enforcing Contracts Overall Country Ranking Ukraine is improving its ranking for 4 years in a row A remarkable jump from No 101 to No 70 re Protecting Minority Interests Further significant improvement expected (aligning legislation with the EU practices; EU Association) accounting ERP import legal tax 4

5 GDP GDP (current US$) GDP place in the world Sources: World Bank, DT - Global Business Consulting Sources: World Bank accounting ERP import legal tax 5

6 UAH/US$ exchange rate, period average UAH/US$ exchange rate, period average F Sources: World Bank, accounting ERP import legal tax 6

7 UAH/US$ exchange rate, last 6 months UAH/US$ official exchange rate, 6 months to Source: National Bank of Ukraine accounting ERP import legal tax 7

8 Inflation Inflation, consumer prices (annual %) F 2018F 2019F 2020F Sources: World Bank, State Statistics Service of Ukraine, DT - Global Business Consulting accounting ERP import legal tax 8

9 Export/Import Export/Import development, USD bn Export Import Sources: State Statistics Service of Ukraine accounting ERP import legal tax 9

10 Exports key destinations Exports key destinations, % of total 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% Other Kazakhstan India Belarus Germany Italy Turkey Poland Egypt China Russia 0% (1-5) Sources: State Statistics Service of Ukraine accounting ERP import legal tax 10

11 Exports main categories of goods Exports main categories of goods, % of total 100% 90% 80% 70% 60% 50% 40% 30% 20% Transport engineering Textiles, footwear & accessories Different industrials Forestry & paper Food industry Chemicals, polymers & plastics Mining & oil Machinery & equipment Base metals Agriculture 10% 0% (1-5) Sources: State Statistics Service of Ukraine accounting ERP import legal tax 11

12 Exports main categories of services Exports main categories of services, % of total 100% 90% 80% 70% 60% 50% 40% 30% Other services Tourism & travel Construction services Business services Processing of materials Telecoms & IT Transportation services 20% 10% 0% (1-5) Sources: State Statistics Service of Ukraine accounting ERP import legal tax 12

13 Imports main categories of goods Imports main categories of goods, % of total 100% 90% 80% 70% 60% 50% 40% 30% 20% Forestry & paper Different industrials Food industry Textiles, footwear & accessories Transport engineering Base metals Agriculture Machinery & equipment Chemicals, polymers & plastics Mining & oil 10% 0% (1-5) Sources: State Statistics Service of Ukraine accounting ERP import legal tax 13

14 Imports main categories of services Imports main categories of services, % of total 100% 90% 80% 70% 60% 50% 40% 30% Other services Royalties related to use of intellectual property Telecoms & IT Tourism & travel Business services Financial services State & government services Transportation services 20% 10% 0% (1-5) Sources: State Statistics Service of Ukraine accounting ERP import legal tax 14

15 Market Development Production vs. services sector in Ukraine s economy, based on GDP 100% 90% 80% 70% 60% 50% 40% Services Production 30% 20% 10% 0% Q-3Q 2016 Sources: State Statistics Service of Ukraine accounting ERP import legal tax 15

16 Ukraine - Austria Foreign Trade Imports vs. exports, USD m 1,200 1,169 1, Exports to Austria Imports from Austria Sources: State Statistics Service of Ukraine, Oesterreichische Nationalbank, STATISTIK AUSTRIA accounting ERP import legal tax 16

17 Ukraine: Main Macro Indicators The Ukrainian economy hit bottom in autumn 2015 Modest GDP growth at 1.8% in 2016 and a further 2.5% projected for 2017 Consumer inflation is 12.4% for 2016 and expected 8.5% for 2017 Ukraine ranks No. 6 as a priority market (out of 23 Central/East European markets) over the next 3 years, according to CEE Benchmarking Survey carried out by CEEMEA Business Group in December 2016 In terms of the rate of sales growth Ukraine leaps up to No. 4 out of 23 for 2016 (from No. 22 just one year ago), according to the above survey. accounting ERP import legal tax 17

18 2016: Ukraine - SWOT Strengths Strategic location Population size & geography Population highly educated Cheap skilled labor Natural resources (land) Weaknesses Corruption Weak State management Weak Financial sector High dependence on imported resources Opportunities Association Agreement - EU Technological Readiness (IT) and business potential Int l Labor Market (outsourcing) Threats On the edge of East-West clash of values (external threat) Inherited polarization of opinions within population (internal threat) Risk of populism leading to failed state Radicalism of the population accompanied by ignorant politics accounting ERP import legal tax 18

19 Ukraine: Facts & Advantages Ukraine provides visa-free entry for nationals of developed world countries and the EU plans to lift the visa requirements for Ukrainian citizens by summer 17 A clear plan for broad country s modernization is in place, together with signing the Association Agreement with the EU The good educational system provides the market with a stable supply of well-educated and highly motivated young workers that continue to acquire new competencies, including good command of foreign languages after graduation Ukraine is among the world leaders for educated population (100% literacy, 76% have high education) and for IT/programming professionals Property, labor and services became extremely price competitive as a result of the crisis, which significantly reduces the costs involved with entering the market. In addition, Ukraine has been an employer market since 2008 Simplified taxation opportunities for small business and private entrepreneurs Considerable simplification of document flow and accounting process accounting ERP import legal tax 19

20 Reforms List & Progress Anti-corruption Reform Public Procurement Reform Financial Sector Reform Energy Sector Reform Judicial Reform Public Administration Reform Law Enforcement Reform Education Reform State-Owned Enterprise Government Reform National Security and Defense Reform Digital Ukraine Decentralization Deregulation Pension Reform Health Care Reform Agricultural/Land Reform Constitutional reform accounting ERP import legal tax 20

21 Things to watch out: ISSUE: Quite high corruption level true! REMEDY: Do not be a low-hanging fruit ISSUE: Volatile and conflicting legislation true! REMEDY: Trust your reliable local consultants ISSUE: Accounting, regulatory, hard currency and tax inefficiencies true! REMEDY: The picture is improving continuously, though obviously it is still the way to go! accounting ERP import legal tax 21

22 Priority Sectors IT Outsourcing / Development Agriculture Logistics Contract Manufacturing (EU Association Agreement) Other outsourcing businesses (including overseas call-centres) accounting ERP import legal tax 22

23 Top 10 foreign investments in (1) Target/ Investment Ukrtelecom Total investment, USD m Investors 400 Huawei (China), technology; China Development Bank (China), finance Description Modernization of Ukrtelecom s access networks and internet connection speed upgrade Bunge Ukraine 180 Bunge (U.S.) Construction of a vegetable oil production facility and agro logistics complex at the Port of Mykolayiv Looksery 150 Snapchat (U.S.) Acquisition of a startup which develops image processing technologies MV Cargo 100 Cargill Inc. (U.S.) Acquisition of 51% of a cargo terminal at Port Yuzhny (Odessa Region) Kernel 95 IFC (U.S.) A loan for replenishment of working capital of Kernel, a major Ukrainian agricultural holding Cofco Agri 75 Cofco Corporation (China) Construction of a grain terminal at the Port of Mykolayiv accounting ERP import legal tax 23

24 Top 10 foreign investments in (2) Target/ Investment Risoil Fujikura Automotive Ukraine Ciklum Rozetka Total investment, USD m Investors Description 70 Risoil S.A. (Switzerland) Construction of a grain terminal at the Port of Illichivsk 68 Fujikura (Japan) Construction of Fujikura Automotive Ukraine Lviv, an automotive component production site. It will be built at the Lviv industrial park 50 Soros Fund Management / Ukrainian Redevelopment Fund LP (U.S.) 40 Horizon Capital, EmergingEurope Growth Fund II (U.S.) Acquisition of an interest holding in Ciklum, a top 5 Ukrainian IT company Acquisition of an interest holding in Rozetka, e-commerce market leader in Ukraine (at least one third of the local e- commerce market) accounting ERP import legal tax 24

25 Lars Flottrong Director Partner The exclusive right to the content of this presentation including the rights of translation, reproduction, transmittal, distribution and usage of the presentation and parts of it, in any way, as well as the rights to the company s logo and name SCHNEIDER GROUP, in existing and future publications in printed or electronic form, and the ability to confer rights to a third party belong to SCHNEIDER GROUP. The reproduction, alteration, transmittal or any distribution or usage of this presentation or parts of it, as well as of the company s logo or name SCHNEIDER GROUP in any way, need the written permission of SCHNEIDER GROUP in advance and shall be accompanied with the link to the SCHNEIDER GROUP website and reference to the copyright permission. SCHNEIDER GROUP accounting erp import legal tax 25

26 russia ukraine belarus kazakhstan germany poland accounting erp import legal tax

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