Vasil Kisil & Partners acting jointly with Ukrainian Agribusiness Club and the Ministry of Agrarian Policy and Food of Ukraine prepared the manual “Doing Agribusiness in Ukraine: Legal Guidance for Foreign Investors”.
The agribusiness share in the foreign investment portfolio in Ukraine has been growing during the recent three years. Investments in the agriculture remain stable, as compared to the reductions occurring in the other industries. Based on the 2016 results, the share of GDP accorded to the agribusiness was 11.6% from Ukrainian GDP or UAH 277.2 bln. The agrarian GDP of Ukraine has been showing the average growth by 26% annually in the recent 5 years. Exports have also increased in this context. The last year’s deliveries of agrarian products abroad reached USD 15.3 bln. or 42% of Ukraine’s aggregate exports.
The Doing Agribusiness in Ukraine manual makes a potential foreign investor aware of the key legal aspects of doing agribusiness in Ukraine, so that to increase investments in such a promising sector of Ukrainian economy as the agribusiness is. It contains descriptions of companies operating in the agricultural sector and addresses such issues as taxation, repatriation of profits, rights to land and property, employment relations, protection of intellectual property, dispute resolution, and sector-specific regulations.
“Ukrainian companies are already globally successful in exports of such products as grains, sunflower oil, corn, soy, sugar, poultry, chocolate, and others. But we have got a lot of unrealized possibilities yet. That is why today our Ministry’s team actively work within the goals of the national export development strategy, trying to pursue the diversification in 3D format. 3D means here three key priorities: an opening of new geographical markets for Ukrainian exporters, diversification of Ukrainian agriexport structure with the more processed and value-added products in it, as well as more active involvement of agricultural SMEs in international trade. We have created together with the colleagues this very practical and very concise manual to help potential investors, who would like to know more about the general legal framework for investments in Ukrainian agriculture,” says Olga Trofimtseva, Deputy Minister of Agrarian Policy and Food of Ukraine for European Integration.
“Together with our partners and the Ministry of Agrarian Policy and Food, we are trying to facilitate attracting investment in the Ukrainian agricultural sector. The understanding how to do business in such or another country is the precondition for any successful project. We believe this manual would help potential foreign investors to understand better the most important aspects they may face when doing their business in Ukraine,” said Taras Vysotskyi, General Director, Ukrainian Agribusiness Club.
“We in Vasil Kisil & Partners have been, for so long as 25 years, supporting foreign investors who come to Ukraine and do business here. We believe that responsible foreign business can make a significant contribution to effectiveness and sustainable development of the agricultural sector in Ukraine. We hope that this guidance would be helpful for foreign investors who consider doing agribusiness in Ukraine,” explains Volodymyr Igonin, Counsel, Vasil Kisil & Partners.
You can download the manual here.