Valeria Gontareva, governor of the National Bank of Ukraine (NBU), might be leaving office, but is often commended for the banking sector restructuring and consolidation that has been long-awaited by foreign investors. Continue reading Ukraine’s Banking Sector Reconstruction Brings Asset Sales and Opportunities in Equal Measure
With the fast-developing IT sector and most IT firms occupying refurbished Soviet-era office buildings, demand for modern office space is sky-rocketing, says Volodymyr Zhenchak, CEO and the owner of Galereja Centre Ltd, which has developed the Forum Lviv shopping centre, and vice-chairman of the board of the shopping centre. He spoke to Eva Keller about Innovation District IT Park, which his company is developing and looking for partners for.
Continue reading The Innovation District IT Park Will Help Lviv Become CEE’s IT Hub
In 2016, Romania’s economy achieved a GDP growth of 4.8 per cent, which was the fastest pace since 2007, and the highest mark in the EU. Continue reading Romania’s Economic Outlook Is Bright
Set up 1,535 years ago, Kyiv is one of the oldest cities in Central and Eastern Europe. Not only is it Ukraine’s capital, and the country’s largest city, but it also enjoys a special administrative status and is considered a region. Continue reading Kyiv’s Mayor Is Used to Fighting to Attract Attention and Interest
After an expectedly modest increase of 1.1 per cent in 2016, the Ukrainian economy is expected to grow by 2.4 per cent in 2017 and by 3.0 per cent in 2018, according to a survey of 30 local and international economic analysts made by FocusEconomics. The National Bank of Ukraine is more optimistic and sees the economy expanding by 2.5 per cent in 2017 and by 3.5 per cent in 2018. Continue reading FocusEconomics: Predicting an Increase for the Ukrainian Economy
This year, Belarus was shortlisted as a top outsourcing destination of 2016, by the UK-based Global Sourcing Association (GSA). The country was also included in the Top 30 Locations for Offshore Services by Gartner. These two successes prove that Belarus has a great potential to becoming a leading IT outsourcing destination — according to Uniter’s IT Industry in Belarus 2016 report, more than 90 per cent of Belarusian companies out of almost existing 1,000 firms, developed customised software, in 2015. Continue reading Belarusian Tech Companies Lead a Global Technological Advance in Outsourcing and Product Development
Increasingly, more foreign companies are identifying business opportunities in Belarus and are setting up their offices, or investing, in the country. Torsten Merkel, CEO of Pure Energy Intelligence; Selçuk Erdoğan, Managing Partner at Ketenci Law Firm, and Galymbek Mamrayev, Deputy Chairman of the Kazakhstan Public-Private Partnership Centre, discussed the energy sector, financial services and the public private partnership mechanism, as prospective areas for development in the country.
The international community should not force Belarus to introduce changes and should let the country find its own way to emerge, Antonio Somma, head of the OECD Eurasia Competitiveness Programme, said in an interview with Emerging Europe.
The global outsourcing sector is developing rapidly — both on the vendor’s and the buyer’s side — and it is essential to introduce global outsourcing standards, Kerry Hallard, CEO of the newly rebranded Global Sourcing Association, told Emerging Europe in a video interview. Continue reading The Newly Branded Global Sourcing Association Makes Standards its Priority
There are about 4,300 free economic zones across the world and more are constantly being added. Belarus, with its population of close to ten million and area of slightly over 200,000, sq. km, has six regional zones. It also has the Great Stone Industrial Park which is located near the country’s capital, and which is meant to take full advantage of the One Belt One Road initiative.
Dr Mohammed Alzarooni, Chairman of the World Free Zones Organisation, based in Dubai, spoke to Eva Keller about the advantages of free zones over possible costs and about the strategic position Belarus holds in the One Belt One Road scheme. Continue reading Belarus Has Set an Example for Others to Follow
New VAT forms that companies submit to the tax office and an updated list of products and services with a lower VAT rate are only a few of the procedures that have resulted from the Ministry of Finance’s five recent decrees. In July 2016, the Parliament approved new amendments to the VAT law in order to reduce informal economy. The Ministry of Justice plans on fighting the informal sector even further with terms of imprisonment for up to 25 years for tax fraud. Provisions against tax evasion have recently been introduced. Continue reading Do Your Homework First and Starting Business in Poland is Easier
The most important thing, for Belarusian President Alexander Lukashenko is a clear vision of the country’s future. “We should specify the tasks required to ensure our strategic development. This is why we need an extremely sincere, honest and high-toned conversation,” Alexander Lukashenko said while speaking at the Fifth Belarusian People’s Congress on 22 of June, 2016, an event which takes place every fives years. Continue reading Belarus: On the Way to a Market Economy?