Business Emirates # 13 (March - April 2007) - page 84

SINCEGFC-UKRAINEWILL
FOCUSONTRADE IN
INVESTMENTFINANCIAL
INSTRUMENTS,ANNUAL
TURNOVERWILLBEEQUAL
TOBILLIONSOFDOLLARS
ANDTHISWILLBRINGLOTS
OFFOREIGNCURRENCY
INTOUKRAINE
YU. PAVLENKO -
REPRESENTATIVEOF
UKRAINETRADECENTER IN
AUTONOMOUSREPUBLIC
OFCRIMEA,
ATIQALMEHAIRI - FAMOUS
UAE INVESTOR
BUSINESS EMIRATES
84
ÍÅÄÂÈÆÈÌÎÑÒÜ, ÁÈÇÍÅÑ, ÈÍÂÅÑÒÈÖÈÈ
ÓÊÐÀÈÍÀ -ÎÀÝ
project incompliancewith international standards.
Inorder toperform regulatorycontrol overdifferent
operationswithin the frameofGFC-Ukraine, it is
planned tocreateall thenecessaryconditions
toallow theFederal ReserveBankof theUSA,
DepartmentofTreasuryof theUSA, Central Bankof
theEuropeanUnionandother financial structures
toopen their representativeofficeshere.
Owing to the reputationof the foreign
partners, Global Complex is going tobecome
attractive for international financial business, in
particular – fromEast Europe. Clients of GFC-
Ukrainewill include individual investors and
wealthy representatives of business circles.
Additional stimulus for attracting the international
and institutional investorswill be createdby tax
benefits that need tobepreserved in future to
keeppotential clients.
In contrast to FEZ andoffshore centers of a
number of countries, GFC-Ukrainewouldonly
bedoing special international financial business.
Pursuant to thepractice acceptedby international
regulatory agencies, Global Complexwill strictly
follow financial audit standards and anti-money
launderingprocedures. GFC-Ukraine is going
touse special agreements inorder to avoid
double taxationof Ukraine, with themajority
of the countries thus giving anew impulse to
international financial business inUkraine. It is
planned to set close tieswith FEZ in India, aswell
aswith financialmarkets of theUSA, Germany,
Great Britain andSwitzerland. In addition to
stimulationof financial sector, establishment of
GFC-Ukraine also is going to stimulatebilateral
relationshipswithother countries. GFC-Ukraine is
going to createnew jobs and the activities of the
Global Complexwouldhave apositive impact on
theeconomicgrowthof the country and improve
the imageof Ukraine in theworld.
SinceGFC-Ukrainewill focus on trade in
investment financial instruments, annual turnover
will beequal tobillions of dollars and thiswill
bring lots of foreign currency intoUkraine. Project
promoters guarantee average annual volumeof
sale/purchase transactions at the level of $250
billion, including$6.25billionof gross profit. The
turnovermay increasedue toother powerful
trading companies thatwouldbeginworking
within FEZusing the infrastructure and trade sites.
50%of theprofit receivedbypromoterswill be
used for different humanitarianprojects around
theworld and theother 50%will be allocated
exclusively to the financingof humanitarian and
charitable activities inUkraine.
The statewould receive proceeds from the
activities of GFC-Ukraine in the form of profit
tax, sales tax, excise and customs duty. Another
source of proceeds will be represented by the
income from registration of companies, funds,
trusts, etc., in FEZ. Since GFC-Ukrainewill be
established on the territory purchased by the
investor, state budgets would receive profit
from sale of the land plot.
TheplannedFEZ isgoing towork in strict
compliancewith the legislationofUkraine,with
theexisting standardsand rules.This independent
self-sustainedorganizationwill finance itself from
profit, therefore it isnotgoing toneedany financial
aid from thegovernmentofUkraine, norduring
theestablishmentneitherduring theoperation
process.The structure is tobemanagedby the
manager appointedbyCentral Board to include
representativesof high-ranking representativesof
ministriesanddepartmentsofUkraine.
Technically and financially, theplanned
FEZ including theGFC-Ukraine is quite
substantiated. This investment project capable
of turningUkraine intomajor financial center
certainlydeservesmost attentive reviewby the
government authorities.
/Thismaterialwaspreparedby the
AnalyticalDepartmentof theFund for Support
of InvestmentandPrivatization /
FC...,74,75,76,77,78,79,80,81,82,83 85,86,87,88,89,90,91,92,93,94,...BC
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