Current news on Rebuild Ukraine topic

"Ukrbud" and "Sumykhimprom" Put Up for Sale Under Large-Scale Privatization

The Government has approved the terms and starting prices for the sale of two large-scale privatization assets – the state joint-stock company "Construction Company Ukrbud" and the public joint-stock company "Sumykhimprom".

"Ukrbud" will be offered for privatization with a starting price of approximately ₴262.65 million.

The starting price for the "Sumykhimprom" share package is over ₴1.158 billion.

According to the approved terms, the new owners of the Ukrbud and Sumykhimprom share packages must:

• preserve the core business profile of the enterprises;
• repay the enterprises' debts within six months;
• ensure labor rights protection and no layoffs within the first six months;
• direct dividends to the state budget based on the results of operations in 2024 and up to the time of sale in 2025.

"Construction Company Ukrbud" specializes in the design of industrial and civil facilities, performs construction and installation work, and trains and retrains workers for the construction sector.

"Sumykhimprom" is a chemical industry enterprise operating since 1953.

Its main products include mineral fertilizers, titanium dioxide, and inorganic chemicals.

Ryanair, the Largest Low-Cost Carrier, Develops Five-Year Plan to Resume Flights to Ukraine: Ukrainian Airports Ignore the Initiative

Michael O’Leary, CEO of Ryanair, the largest low-cost carrier, stated that the airline has developed an ambitious five-year plan to restore air travel in Ukraine.

It is expected that the company will be able to carry 5 million passengers during the first year after the skies are open, with plans to increase this number to 10 million passengers within five years. Ryanair has submitted its growth plan to the Boryspil and Lviv airports, but has received no response for over two years.

O’Leary added that Ryanair operates aircraft in 90 airports across Europe and the company is capable of redirecting some of them to Kyiv and Lviv. The company plans to resume operations within six weeks after the skies are open, but due to the lack of agreements with the airports, Ryanair will be able to transport only 1 million passengers in the first year.

Hungarian low-cost carrier Wizz Air is also ready to return to Ukraine and is already close to an agreement on resuming commercial activities with the airports of Kyiv and Lviv. They plan to open 100 routes and carry 5 million passengers in the first year.

Ukraine Exports IT Services to 147 Countries, Collaborating with Microsoft, Meta, and Google.

In 2024, Ukraine's IT sector contributed over $1 billion in taxes to the state budget, which is a 5% increase compared to five years ago. IT services account for 37.4% of the country’s service exports and 11.5% of total exports. The sector remains stable even during times of crisis, thanks to continued demand for Ukrainian developments.

The United States is the largest importer of Ukrainian IT services, accounting for 37.2%, followed by the United Kingdom, Germany, Switzerland, Israel, and Poland. Ukraine exports IT services to 147 countries, partnering with major companies such as Microsoft, Meta, IBM, Siemens, and Google. Over 90% of Ukrainian IT companies plan to expand into key markets, including the USA, UK, Poland, and Germany. The sector includes 9,600 companies, a 6% increase compared to the previous year, with a revenue of $6.2 billion in 2024.

Over the past six years, IT companies have attracted $1.5 billion in venture capital investments. Active growth is observed in DefenseTech, FinTech, AI, and the mergers and acquisitions market. Ukraine now has over 2,600 startups, representing a 200% increase since 2020. The most popular areas are software development, marketing, EdTech, and cybersecurity.

Switzerland Doubles Aid to Ukraine for Reconstruction This Year to $114 Million.

The Swiss State Secretariat for Economic Affairs (SECO) has doubled its funding for a competition supporting Swiss companies operating in Ukraine, increasing it from CHF 50 million to CHF 100 million ($57 million to $114 million).

This competition marks the beginning of Switzerland's program to support Ukraine. The first phase is planned for 2025-2028 with a total budget of CHF 1.5 billion ($1.7 billion), and Switzerland aims to provide CHF 5 billion ($5.7 billion) over the course of 12 years. An additional CHF 50 million will be allocated to reconstruction projects in Ukraine in collaboration with Swiss companies.

The program focuses on implementing projects in the areas of civil protection, infrastructure and utilities reconstruction, and modernizing public services. Due to the program’s expansion, the deadline for applications has been extended to March 31, 2025. The competition is aimed at Swiss companies that have a legal entity in Ukraine and can make a significant contribution to the reconstruction and create additional value for the Ukrainian economy.