BBCU Meeting 18 March 2010

The BBCU held a networking meeting on 18 March 2010 at our member premises at ‘MasterKlass’ in Kyiv.

The theme: “Ukraine under a New President and New Government”. 58 members and guests attended.

Members and guests were invited to share their views on what they think will happen in Ukraine as a result of a new President being elected and also a New Government.

This was a great opportunity for many members to voice their concerns in both a positive and negative way.

We also conducted group discussions based around the ‘Should we invest in Ukraine” scenario, concerning a company that is considering Ukraine as a potential location for a food processing factory. Discussion groups then shared their ‘positives’ and ‘negatives’ about investing in Ukraine with the meeting. It was clear from the discussion that the major disadvantage facing Ukraine is still the problem of corruption.

The members also discussed the problem of VAT refunds from the government.

Many companies are now experiencing problems as the government continues to refuse to make VAT refunds. One British company that is involved in agriculture in Ukraine is owed UAH 80m and they may have to ‘right off’ the debt as they see the chances of getting paid by the government is very slim.

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