• April 24, 2024

PM Eager to Partner in Ukraine Recovery

 PM Eager to Partner in Ukraine Recovery
Photo: alphaspirit

Philip Morris may act as a partner and advisor in Ukraine’s recovery in line with the concepts adopted during the recent Ukraine Recovery Conference in Lugano, Switzerland, Philip Morris Ukraine CEO Maksym Barabash told journalist on July 6.

According to Barabash, Philip Morris has a solid record of operation in Ukraine. “Philip Morris is a key American investor, employer and taxpayer in Ukraine,” Barabash was quoted as saying by Interfax. “And this is how we see our future in Ukraine.”

The company has experience in both upgrading outdated production facilities building a new ones, he added.

“Therefore, I see our role not only as an exporter, one of the biggest taxpayers, and an employer, but also as a partner and advisor on the country’s recovery,” Barabash said.

Philip Morris has operated in Ukraine for more than 20 years and owns a factory in the Kharkiv region. Before Russia’s invasion on Feb. 24, its Ukrainian facilities employed about 1,300 people. The factory served as an export hub for over 20 countries, including major markets such as Japan and Egypt.

In 2020, Philip Morris Ukraine reported a net profit of UAH2.73 billion ($92.38 million), up 5 percent from 2019.