UKRAINE OPEN FOR BUSINESS

Business news from the Ukrainian League of Industrialists and Entrepreneurs

UKRENERGO DRAFTS UAH 7.7 BLN INVESTMENT PROGRAM FOR 2017

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KYIV. Aug 26 (Interfax-Ukraine) – NJSC Ukrenergo has developed a draft investment program for 2017 to the tune of UAH 7.667 billion.

The document was posted on the company’s website.

The key sources of the financing will be profit worth UAH 2.476 billion, amortization worth UAH 984.993 million, and loans worth UAH 4.206 billion.

As reported, Ukrenergo operates trunk and interstate power grids, as well as performs the centralized dispatching of the united energy system in the country. The company is a state enterprise, and it is subordinate to the Ministry of Energy and Coal Industry.

 

CHINESE INVESTORS INTERESTED IN LAUNCHING PV PANEL PRODUCTION IN REGION – LUHANSK GOVERNOR HARBUZ

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KYIV. Aug 26 (Interfax-Ukraine) – Head of Luhansk civil and military administration Yuriy Harbuz has said Chinese investors are interested in launching photovoltaic (PV) panel production in the region.

“Recently I had investors from China under the industry development program. We are looking for an option to organize PV panel production here,” he said in an interview with the Uriadovy Kurier publication.

He said that the region has skilled staff and industrial sites where they can work.

He also said that there is demand on PV panels in the region.

UKRAINE, CHINA SIGN AGREEMENT OF UNDERSTANDING IN APPLICATION OF TRADE SAFEGUARDS TOOLS

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KYIV. August 26 (Interfax-Ukraine) – Ukraine’s Economic Development and Trade Ministry and China’s Ministry of Commerce have made arrangements concerning mutual understanding in application of trade safeguards tools in international trade.

An Interfax-Ukraine correspondent has reported that the agreement as signed by Deputy Economic Development and Trade Minister and Trade Representative Natalia Mykolska and Vice Minister of Commerce Qian Keming in Kyiv on Thursday.

“We have actively worked on the issues of cooperation in trade, investment, technical regulation, transport, energy, tourism and high-tech areas,” Mykolska said at a briefing after a meeting of the sub-commission for trade and economic cooperation of the cooperation commission of the Ukrainian and Chinese governments.

Mykolska said that China is second in terms of goods turnover with Ukraine.

“We worked in the sub-commission to determine, lay out and draft the action plan to overcome negative trends in trade we have seen in 2015 and early 2016,” she added.

She said that the sides will agree the list of goods for mutual exports and imports, support participation of enterprises in exhibitions and fairs and make reciprocal travel arrangements for trade missions.

Kyiv and Beijing will promote the creation of industrial enterprises to export products to the European Union market.

Mykolska said that top priority directions of cooperation are agriculture, industry, infrastructure development, in particular transport (the railway section of the Silk Road), and tourism.

AZOVMASH TO SHIP EUR 100 MLN WORTH OF 3,000 WAGONS TO IRAN

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KYIV. Aug 26 (Interfax-Ukraine) – Public joint-stock company Azovobschemash (Mariupol, Donetsk region), the flagship company of the leader of Ukrainian heavy engineering Azovmash Group, will ship 3,000 wagons to Iran, the Ukrainian Embassy in Iran has reported.

The cost of the agreement signed with the help of the embassy exceeded EUR 100 million.

“This is only a first agreement to supply Azovobschemash’s products to Iran. The total need of Iranian state-run companies Pars Wagon and Kors Wagon exceeds 35,000 wagons, gondola cars and tank wagons. Thus, the total potential of Azovobschemash’s cooperation with Iranian enterprises is over EUR 1 billion,” the embassy said.

Early August Ukrainian Ambassador to Iran Serhiy Burdyliak said in an interview with Iranian Tasnim news agency that Azovmash and Kriukov Car Building Works (KCBW) are holding talks with Pars Wagon and Kors Wagon on creation of joint ventures to work in Iran.

On July 13, 2016, Ukraine’s Infrastructure Ministry and Infrastructure Ministry and Roads and Urban Development Ministry of Iran signed a memorandum of understanding.

Iran has invited Ukraine to build 1,000 kilometers of railroad tracks in Iran and participate in projects worth $10 billion provided by Teheran for modernization of railway infrastructure and development of intermodal transportation.

KHARKIV, CZESTOCHOWA SIGN MEMO OF COOPERATION IN TOURISM

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KHARKIV. Aug 25 (Interfax-Ukraine) – Kharkiv Mayor Hennadiy Kernes and Czestochowa Mayor Krzysztof Matyjaszczyk (Poland) have signed a memorandum of cooperation between the cities to boost tourism.

The press service of Kharkiv City Council reported that the document was signed on August 23.

“Under the memo the sides will exchange experience, draft and implement joint projects and initiatives aimed at stimulating development of tourism of the two cities,” the press service reported.

Kharkiv is famous with hosting events intended to develop business tourism, while Czestochowa is developing religious tourism. The city has many holy places. The city is the center of a pilgrimage of the faithful from Poland and other countries.

“Kharkiv continues expanding its international cooperation. It is important for us. We are interested in best practices and achievements of other cities of Europe and from the whole world. We would be pleased if our foreign partners will come to Kharkiv – to adopt our best practices,” the press service said, citing Kernes.

Matyjaszczyk expressed hope that cooperation between Kharkiv and Czestochowa will be useful for the two cities and it would help to implement various joint projects.

NEW U.S. AMBASSADOR TO UKRAINE YOVANOVITCH ARRIVES IN KYIV

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KYIV. Aug 25 (Interfax-Ukraine) – Newly appointed U.S. Ambassador to Ukraine Marie Yovanovitch presented copies of her credentials to Ukrainian Deputy Foreign Minister and chief of the ministry’s secretariat Vadym Prystaiko on Tuesday.

The parties mentioned a high level of relations between Ukraine and the U.S. and the importance of their further development in all areas, particularly in the security and economic fields, the Ukrainian Foreign Ministry website reported.

Prystaiko and Yovanovitch exchanged opinions on the state and prospects of the Minsk peace process and discussed bilateral interaction within the UN framework.

Yovanovitch pointed out to a qualitatively new level of relations between the U.S. and Ukraine and the U.S.’ determination to continue to help Ukraine defend its territorial integrity, pursue reforms, and fight corruption.

It was reported earlier that previous U.S. Ambassador to Ukraine Geoffrey Pyatt had left Ukraine on August 18 after three years of his service in the country.

U.S. President Barack Obama had earlier announced his intention to appoint Yovanovitch new U.S. ambassador to Ukraine. Pyatt was reportedly named as the U.S.’ prospective ambassador to Greece.

Yovanovitch earlier served as principal deputy assistance secretary in the U.S. Department of State’s Bureau of European and Eurasian Affairs. From 2001 to 2004, Yovanovitch served as deputy chief of mission at the U.S. embassy in Kyiv and charge d’affaires.