Jun 17, 2020

Volodymyr Kostiuk: “Strengthening the presence of the Ukrainian manufacturer is a strategic issue for Ukraine”

Executive Director of JSC Farmak Volodymyr Kostiuk was elected to the Board of Directors of the Union of Ukrainian Entrepreneurs (SUP). In accordance with the Articles of Association of the Union, the rotation takes place and 30% of the Board are changed every two years.


“The domestic company Farmak has been a leader of the Ukrainian pharmaceutical market since 2010. It is crucial for us to maintain an open dialogue with the authorities and to convey the idea of balance between the focus on foreign investments and on national manufacturer. Today the strategy of the economic development of Ukraine is significantly focused on the raising of foreign investments. In my opinion, we should start with a different thing – we should create the business climate in Ukraine that will ensure retaining and developing these investments. We should propel the interaction between the government and domestic investors, national manufacturers and service providers to a new level. Holding the position of a member of the SUP Board of Directors, I, together with other members, will build an effective communication of urgent issues of the Ukrainian business community with key political stakeholders. We will offer constructive solutions to existing problems based on the best international experience. The main areas that I plan to set sights on are stimulating the development of the Ukrainian entrepreneur, increasing the export of Ukrainian goods and services and improving the legislation in manufacture and circulation of medicines. I am sure that my own experience as well as Farmak experience amounting to almost 100 years will contribute to the further development of the SUP as a main defender of the interests of Ukrainian entrepreneurs,” said Volodymyr Kostiuk, Executive Director of JSC Farmak.


“In times of crisis, the operation of business associations and their institutional sustainability are of primary importance. We believe that the good corporate governance is one of the components of sustainable development and institutional strengthening. I am tremendously pleased that only the real experts and leaders in their industries take part in the development of the Union and the implementation of its mission which aims at improving the business climate in Ukraine. In particular, the innovativeness of such company as Farmak will facilitate the introduction of modern practices and activities of our community. I am convinced that owing to the experience and energy of the newly elected members of the SUP Board of Directors, the voice of the Ukrainian business will sound even stronger,” emphasized Kateryna Glazkova, Executive Director of the Union of Ukrainian Entrepreneurs.


Farmak joined the SUP in 2019.


Full composition of the SUP Board of Directors:

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