Lviv Business

West Ukrainian legal landscape

Issue 40, November 2011.
Arzinger law firm’s Timur Bondaryev and Markian Malskyy reflect on Lviv’s growing regional appeal As demonstrated on many previous occasions, the eleventh Lviv Economic Forum turned out to be an event where massive flows of information from different sources came together and created a general overview of what is going on in the Lviv region and in Ukraine generally. As usual the most hotly discussed topics were the political and economic environments, investor problems and legal possibilities. We spoke to Arzinger’s Timur Bondaryev and Markian Malskyy about the key themes to arise from this year’s forum and the prospects for the region in general.

EBA Personality- Artem Haivoronsky, Director Synergy Consulting

Issue 40, November 2011.
This month, we hear from Artem Haivoronsky, Director of Synergy Consulting, sharing his opinions about the current business climate in Lviv and Western Ukraine, and his suggestions for what could be done to improve things over the next few years.

Austrian Ambassador to Ukraine: Building on a Habsburg Heritage

Issue 40, November 2011.
Austrian Ambassador to Ukraine Wolf Dietrich Heim recently visited Lviv in order to see for himself how Austria has managed to establish itself as the Number One international investor in West Ukraine, accounting for 37% of all international investment into the region. Appointed to represent Austria in Ukraine in summer 2010, Ambassador Heim spoke to Lviv Today about the Austrian investment situation in the region and shared his thoughts on why Austrian companies have found such a warm welcome waiting for them in the former Habsburg heartlands of West Ukraine.


Issue 39, October 2011.
The Dutch Embassy organized a September trade mission to Lviv. Ambassador H.E. P.J. Wolthers headed the mission, assisting Dutch businesses by introducing them to local authorities and potential business partners

Tax-free shopping – how does it work?

Issue 39, October 2011.
The attractiveness of shopping abroad has become more and more widespread among the citizens of Ukraine recently.

EBA Personality: Piret Haahr, CEO DP Lvivtex

Issue 38, September 2011.
How do you assess business sectordevelopment in the Lviv region so far in 2011 and what are your business development predictions for 2012? I’ve been developing various businesses in Western Ukraine for the last 10 years and during this period I can definitely say that the business sector developed significantly. This year business activity has revived after the crisis and I notice more investors coming to Lviv as well as increase in turnover for existing companies. Due to the impressive infrastructure development as a result of EURO 2012, I’m sure that next year’s business sector development will reach new levels. The new airport for example, will significantly increase economic activity.

EBA Personality Mr Jiro Olcott of ZvitNet LLC

Issue 37, July 2011.
This month, we ask Mr Jiro Olcott of ZvitNet LLC for his opinions on regional business development prospects and principles of management that foster successful business climate.

IT services VAT-able again!

Issue 37, July 2011.
Will it hit Lviv IT services providers? During the last few years Lviv has become one of the most rapidly growing centres of the IT industry in Ukraine and has every chance to develop further in this direction. Lviv is one of the regional leaders of the IT industry in Ukraine (along with Kharkiv and Kyiv) due to competitively priced labour, a high number of technically trained and skilled people, low cost of services and relatively-developed infrastructure. International demand serves as a trigger for Ukrainian (including Lviv) IT industry development. Local Ukrainian IT companies have also started to see more opportunities on the domestic market. Hopefully the growing number of orders from foreign and local clients will drive competition among software companies, which in turn will strive to provide better quality products and services.
Ihor Pikhurko Financial Director  Hafele Ukraine

Talking point:VAT issue update

Issue 36, June 2011.
Though the investment climate in Ukraine improves, the VAT refund issue is still one of the most critical obstacles to attracting foreign investment. Most companies have the legal right to claim VAT reimbursement but few of them can state that it is an easy process.Automatic VAT refund procedures have already been introduced in the 2011 Tax Code.