Lviv Business

Political leaders and international investors gather in Lviv Oblast for ninth annual Economic Forum

Issue 17, October 2009.
The ninth annual Lviv International Economic Foreign gathered a wide range of corporate, government and international investment sector representatives to the Lviv Oblast spa resort town of Truskavets in the Carpathian foothills 1-2 October. The event has long since been the biggest regional gathering of its kind in West Ukraine, and this prominence was reflected in the keynote speeches delivered by President Viktor Yushchenko and PM Yulia Tymoshenko.

Building a new investment strategy

Issue 16, September 2009.
In October 2008 the Foundation for Effective Governance together with the Lviv city authorities and consultants from Monitor Group began work developing an appropriate long-term competitiveness strategy for the city. The first phase of the project was completed by end of May 2009 with the public presentation of the new Lviv strategy with the support of both key stakeholders and the broader community. The task now remains to transform strategy into reality and implement an ambitious long-term vision for Lviv. If successful, in 10–15 years, Lviv will have built a modern open economy that houses a well-balanced mix of companies and is open to external expertise and capital.

Tram modernisation project on track

Issue 16, September 2009.
On September 8 a German Consortium from ARGE led by PTV AG presented the results of their 8-month research into Lviv Urban Transport Strategy. The Document analyses the city’s current transport problems based on field studies and traffic counts and then applied to the VISSUM-based transport model.

Human Resources: Protecting Your Key Asset

Issue 16, September 2009.
Since the recession hit Ukraine in last quarter of 2008 unemployment figures have risen sharply. According to the International Labour Organization the real unemployment rate in Ukraine is in or around 9.5%, while over the last year more than 500,000 people are thought to have lost their jobs. This difficult economic climate has meant serious implications for employers which can lead to two developments: a decrease in employee morale, and an increase in the workloads which individual employees are being asked to take on. What steps can employers implement today in order to pull themselves out of the downward spiral and make the negatives less pronounced?

Using the current crisis to strengthen your employment position

Issue 15, July 2009.
We have been flooded with reports on the credit crunch crisis from every channel of communication including television, radio, print media and the internet. The economic recession brought on by some dubious lending procedures in the West has affected the highest levels of government and commerce, and has trickled down to the average person in a fierce deluge. Whereas in 2006-2007, vacancies were in abundance in virtually every region of Ukraine and salaries were growing at a rate of 20-30% per year, while positions were hard to fill as companies were either expanding their operations or new businesses were entering Ukraine, today, a mere year and a half later, we see the diametrically opposed situation. As companies concentrate their efforts on how to stay afloat, they are restructuring their businesses and this also means downsizing their staff, reevaluating staffing plans and compensation packages for the nearest future. Is there a safe haven where candidates can dock and weather the storm or perhaps even take control of these turbulent waters?

Lviv’s Link to the Capital

Issue 15, July 2009.
Deputy Mayor Oleksandr Zharikov is the focal point of the Lviv City Council in Kyiv and as such acts as the first port of call for many of the international investors currently looking to establish operations in the capital of West Ukraine. He also coordinates Lviv’s Euro 2012 preparations with Ukraine’s central government and is at the centre of efforts to get the city on schedule to serve as one of the country’s four possible host cities during the football championships. Mr. Zharikov, who has been based in Kyiv since late 2007, receives daily confirmation of the growing investor interest in Lviv and sees the tourism and IT outsourcing sectors as among the most exciting for continued growth in the coming years.

German company looking to Lviv for regional growth

Issue 15, July 2009.
Klingspor Ukraine’s General Director Roland Kaschny discusses why his company chose to set up a new production facility in Lviv Oblast and explains why despite a challenging global climate and local obstacles to investment, he remains optimistic about the economic future of the region.

Ukraine’s Cultural Capital Opens its Doors

Issue 14, June 2009.
Lviv was recently named Ukraine’s Cultural Capital, providing a boost to the city’s drive towards becoming one of the most exciting tourism destinations in the region. Lviv City Council’s Tourism and Culture head Andriy Sydor has been a leading figure behind efforts in recent years to reinvigorate the city’s cultural life with a string of ambitious public holidays, festivals and international events, and he believes that this latest accolade is merely an acknowledgement of the city’s status.

Staff leasing as an anti-crisis solution

Issue 13, May 2009.
This article is geared towards exploring options available to businesses today in their efforts to optimize business operations and take advantage of cost-saving services in regards to personnel expenses which typically comprise the most considerable part of any operational budget, and will focus on staff leasing services.

Tapping into the Tourist Trade Gold Mine

Issue 12, April 2009.
Ukraine is suffering more than most from the global credit crunch, which has been exasperated on a local level by the in-fighting and inability to reach consensus among the country’s political classes. With presidential elections fast approaching, many now fear that the current state of political deadlock will drag on into 2010, leaving the country’s economy to drift aimlessly and exposed to the worst dangers of the current international downturn. One of the few areas in which Lviv could be looking to bolster its local economy is in the field of tourism, and the good news is with more and more airlines now offering flights to Lviv, there is every reason to believe that even with money worries gripping potential tourists all over Europe, Lviv will nevertheless be able to attract enough visitors to keep the city’s coffers from drying up complete.