Ukraine open for business - Business news

Business news from the Ukrainian League of Industrialists and Entrepreneurs

BILA TSERKVA PLANT TRIBO AND BELARUSIAN BELAZ OPEN JV IN BELARUS TO MAKE BRAKE PADS

KYIV. Sept 26 (Interfax-Ukraine) – Joint venture BelTribo LLC (Belarus) for production of brake pads and linings for road transport, the founders of which are Bila Tserkva Tribo plant (Kyiv region) and one of BelAZ Holding’s enterprises (Belarus), was launched on September 22 and will become the only producer of these goods in Belarus.
“Agree that you do not launch a plant every day. The plant that you sketched, dreamed of, doubted the correct choice … but built it. In two years we will produce goods for $5 million. I am sure that our partnership with BelAZ (the turnover of $1 billion) will be successful. Belarus – industry lives here, there are talks about import substitution, new jobs!” Tribo plant owner Kostiantyn Yefymenko wrote on his Facebook page.
According to information on the website of the Molodechno regional executive committee (Belarus), BelTribo LLC was registered in October 2013. Its founders from the Belarusian side were OJSC Starodorozhsky Mechanical Plant, belonging to BelAZ Holding, with a 26% stake in the charter capital and Bila Tserkva Tribo plant with a 74% stake.
As of September 15, 2017 investments in the creation of BelTribo LLC amounted to $1.8 million.

MILKILAND’S CHEESE FACTORY PERMITTED TO EXPORT DAIRY PRODUCTS TO EU

KYIV. Sept 25 (Interfax-Ukraine) – Akhtyrka cheese factory (Sumy region), part of Milkiland Group, the dairy group with assets in Ukraine, Russia and Poland, has been permitted to export dairy products to the European Union (EU), the State Service for Food Safety and Consumer Protection has reported.
According to a posting on its website, at present, 287 Ukrainian enterprises are permitted to export its products to the EU, including 107 food producers, in particular, poultry, fish, honey, eggs, milk and dairy products companies.
Some 180 nonfood producers can export products of animal origin like feathers, skins, fodder, nonfood sub products, pedigree materials and other nonfood products of animal origin.

KHARKIV ECONOMIC FORUM IS ONE OF DRIVERS FOR DEVELOPMENT OF SUCCESSFUL EUROPEAN UKRAINE – POROSHENKO

KYIV. Sept 25 (Interfax-Ukraine) – President of Ukraine Petro Poroshenko has noted the ninth International Economic Forum “Innovations. Investments. Kharkiv Initiatives” is a platform for an open dialogue between the authorities and business.
“The traditional annual forum is a significant economic event in the east of Ukraine, which attracts a large number of public authority heads, experts, diplomats, representatives of international organizations and funds. Every year it provides businesses with the opportunities for finding new investment and trading partners. The Kharkiv forum is a platform for an open dialogue between government and business, for establishing contacts between investors and enterprises seeking funds to implement innovative ideas and expand production,” Poroshenko said.
He noted in his message to the Verkhovna Rada he spoke about the scenario of the country’s development in the context of “Successful European Ukraine of Successful Ukrainians.”
“I am sure that the forum is one of the drivers for implementing this scenario,” the president added.

UKRAVTO CORPORATION COULD ENTER TRACTOR MARKET WITH SOUTH KOREAN LS TRACTORS

KYIV. Sept 25 (Interfax-Ukraine) – The UkrAVTO Corporation, the leading player on the Ukrainian automobile market, is studying consumer demand on tractors of South Korea’s LS, which has not yet been presented in Ukraine, the corporation’s press service reported last week.
According to the report, UkrAVTO presented these tractors at the AGROEXPO 2017 exhibition held in Kropyvnytsky.
“The growing popularity of agricultural forums indirectly indicates that agriculture and the agro-industrial complex are beginning to recover, therefore, UkrAVTO has presented a range of LS tractors for the purpose of studying demand,” the press service said.
The company said that this step looks completely logical and justified, since the agricultural sector begins to show upward pace and has a great potential and prospects for larger development.
“Considering that this is a new brand for the Ukrainian market and this machinery was not presented earlier, the tractor sphere will become a “test ball” for assessing the reaction of potential customers,” UkrAVTO said.
The press service told Interfax-Ukraine that the corporation has not yet announced the information, whether the distribution contract has been signed with the South Korean LS, and other details of cooperation.
MILKILAND’S CHEESE FACTORY PERMITTED TO EXPORT DAIRY PRODUCTS TO EU
KYIV. Sept 25 (Interfax-Ukraine) – Akhtyrka cheese factory (Sumy region), part of Milkiland Group, the dairy group with assets in Ukraine, Russia and Poland, has been permitted to export dairy products to the European Union (EU), the State Service for Food Safety and Consumer Protection has reported.
According to a posting on its website, at present, 287 Ukrainian enterprises are permitted to export its products to the EU, including 107 food producers, in particular, poultry, fish, honey, eggs, milk and dairy products companies.
Some 180 nonfood producers can export products of animal origin like feathers, skins, fodder, nonfood sub products, pedigree materials and other nonfood products of animal origin.

PRESIDENT CALLS ON CANADIAN BUSINESS TO INVEST UKRAINE

KYIV. Sept 25 (Interfax-Ukraine) – Ukrainian President Petro Poroshenko has met with Canadian business representatives as part of his working visit to Canada and invited them to Ukraine, the press service of the head of state reported on September 23.
“We are doing all we can to make the ties between our countries closer. Earlier, Canadian Ukrainians invested in Ukraine to support the economy, and now the entire Canadian business is ready to come [to Ukraine]. I want to tell you – now is the right time and place for investment,” he said, adding that Ukraine has great potential.
Poroshenko recalled that Ukraine had completed the placement of Ukrainian sovereign bonds worth $3 billion several days ago.
“This is a good signal of investor confidence in Ukraine and the reforms that are being conducted,” he said.
The head of state spoke about changes in Ukraine, in particular, anti-corruption steps, the introduction of electronic declarations and the latest reforms implemented by the Ukrainian authorities.
The president drew attention of Canadian businessmen to the assessments of international financial organizations, which say that over the past three years Ukraine has done more than in the previous 20 years.
“A number of Canadian companies operating in the field of energy, agriculture, defense and finance, and the aircraft industry have shown significant interest in the Ukrainian market, especially in the context of the introduction of free trade with Ukraine,” reads the report.

POROSHENKO: INVESTORS VOTE WITH THEIR MONEY FOR UKRAINIAN REFORMS

KYIV. Sept 22 (Interfax-Ukraine) – Ukraine’s President Petro Poroshenko regards the successful placement of Ukrainian eurobonds on the international markets as a show of economic support for reforms conducted by the country.
After a meeting with U.S. President Donald Trump in New York on Thursday, the Ukrainian president said he had discussed with his American counterpart in detail the economic cooperation between the two states.
“It’s nice to note the success of the first placement of Ukrainian sovereign bonds on international markets and the high demand for Ukrainian securities. Investors are voting for the success and belief in Ukrainian reforms with their dollars. I was pleased that a large number of these investors were American companies,” Poroshenko said.
He noted that such companies as Goldman Sachs and JP Morgan organized the deal.
“And this is also a form of belief and confidence in the success of Ukrainian reforms – not only from the U.S. authorities, but also from American business,” Poroshenko stressed.