16 December 2011 Article in Kommentarii Weekly

In 2012, I Will Keep Pursuing the Set Goals, Says Dmitry Firtash

In 2012, I am going to keep working on priorities launched during this year. Two weeks ago, an event of special importance for the Ukrainian business took place: the unification congress of the Federation of Employers of Ukraine. I was elected the Federation President and it is matter of the utmost significance for me to make sure that this organization provides the maximum possible protection to the Ukrainian business. In the current challenging economic situation, the corporate community, employers can make a tremendous difference and their position largely determines Ukraine’s economic security. I will use every effort to help the Federation become a driver in putting in place favorable business conditions for both existing and would-be corporations. If we all – business community and the government – want Ukraine to realize its potential, we must promote the preconditions for new technologies incorporation and production modernization. Clearly, the Federation of Employers will cooperate with the State Customs Committee, the State Tax Administration, other state power authorities influencing Ukraine’s business climate at all levels.
 
Obviously, I am planning to develop enterprises at a higher pace than it was the case in 2011. Notwithstanding the crisis, we are setting a very ambitious objective: we must be leaders in all sectors where we operate.
 
I think it will only be right for the country if 2012 sees the creation of a single, powerful titanium corporation which is the only way to lend a quality enhancement to the industry. Given that the titanium sector is a strategic industry for Ukraine, the creation of an integrated titanium company will serve as the country’s augmentation factor. For me, as a businessman investing in the titanium sector, the participation in this project is an interesting and important endeavor.
 
I have already referred to my plans in the chemical sector. At the moment, all of my chemical companies producing mineral fertilizers operate at the level of 100-110 percent of their production capacities. Out next step is the development of new production avenues. Petrochemical production is a strategic way of the development for both our companies and the country at large as pursuing the petrochemical program we, among other things, address the import substitution priority. The investments intended for this project will be used for creation of new production facilities, new jobs, introduction of new technologies. The petrochemical production pace internationally is just outrageous while for Ukraine it is largely a brand new endeavor. However, if the process is organized in a proper way, Ukraine may become a serious player on this market.
 
I pay a lot of attention to the development of Nadra Bank. It has recovered, grown strong and as it evolves into the future, it will be one of the leaders of Ukraine’s banking system. We expect a substantial growth in its clients portfolio in 2012.
 
In the coming year, I am eyeing charity programs expansion, paying more attention to how they roll out, spending more time and resources. This equally refers to the Preserve Your City program pursued to provide assistance to cities in which my companies are principal employers, and to humanitarian programs – the Ukrainian studies program, school chemical learning development in Ukraine, and the Cambridge-Ukrainian Studentship program. Obviously, some new projects will be added to the existing pipelines too.