According to a report by RBC-Ukraine on October 10th, Philip Morris International (PMI) may be intending to revamp its production facility in Kharkiv, Ukraine in order to develop new tobacco products and attract investors.
Maxim Barabash, the General Manager of Philip Morris International (PMI) in Ukraine, stated in an interview that, "Given the complex situation in the region, we are currently unable to formulate any plans for the resumption of production in Kharkiv. Therefore, our current priority is to establish new factories.
He stated, "Moreover, we are following PMI's long-term strategy, which is to develop new categories of tobacco products and produce them accordingly. This presents a great opportunity for us to attract significant investments and revamp our factory equipment in Kharkiv."
In order to achieve this goal, favorable conditions for development are necessary — fiscal and regulatory policies, as well as national support for innovation. He added, "Currently, these conditions are much worse compared to neighboring EU countries, but we hope the situation will improve."
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