KYIV. July 25 (Interfax-Ukraine) – The Cabinet of Ministers intends to launch an online system to monitor the implementation of the government’s action program.
“We will launch a system, a new online system of monitoring the execution of the government’s action program by the ministries, it will be completely accessible to every ministry and this would mean that the internal control system, which has already been developed and will be introduced in the next few days, allows every minister to see the progress of the tasks entrusted to the ministry,” Prime Minister Volodymyr Groysman said at a cabinet meeting.
The premier believes that such monitoring will help understand where the problems appear and solve them.
Groysman stressed the government’s action program is not populist but quite pragmatic.
KYIV. July 25 (Interfax-Ukraine) – HP Tech Ventures created in May 2016 by HP Inc, the world leader in personal computers, as well as, consumer and commercial printing, has become a member of the Ukrainian Venture Capital and Private Equity Association (UVCA).
The association said in a press release that HP Tech Ventures invests globally in early-stage companies where HP can provide strategic value: 3D Printing, IoT, Immersive (VR, AR, and HCI), and Smart Machines (Robotics and AI).
“We hope that due to our cooperation it will find interesting startups to invest exactly in Ukraine — especially now there is a wide range of projects: over 2,500 startups in our country, and the number is growing,” UVCA Executive Director Olha Afanasieva said.
A representative of HP Tech Ventures Vitaliy Holomb said that the fund expects great things from Ukraine’s massive pool of engineering talent.
“We expect great things from Ukraine’s massive pool of engineering talent and are doing our part to help foster innovation while providing a bridge to Silicon Valley,” he said.
Ukrainian companies have attracted more foreign investors last year without losing interest at the local market. About half of the deals (48%) in 2015 (according to UVCA Private Equity and Venture Capital Overview) have been closed with the participation of international funds.
“This fact demonstrates interest of international partners in Ukraine, and shows the recognition of Ukrainian startups on the global market,” the association said.
UVCA was founded in August 2014. The initiators of the association were Andriy Kolodiuk and Merilo. Today 1,200 investment companies, institutional investors and market players, including Horizon Capital, KM Core, AVentures, Intel Capital, SCM, Vostok Ventures, Capital Times, the Warsaw Stock Exchange and other international investors, are association members. The World Bank and the European Bank for Reconstruction and Development (EBRD) are partners of the association.
KYIV. July 25 (Interfax-Ukraine) – Ukraine since the start of 2016/17 agricultural year (July-June) as of July 22, 2016 had exported 1.44 million tonnes of grain, the Agricultural Policy and Food Ministry has reported.
Grain exports reached some 297,000 tonnes of wheat, 760,000 tonnes of barley and 386,000 tonnes of corn, the ministry said.
Some 8,300 tonnes of wheat flour was exported.
As reported, referring to the ministry, Ukraine in 2015/16 agri-year exported 39.487 million tonnes of grain, and this was 13.5% up on the previous season.
KYIV. July 25 (Interfax-Ukraine) – Metinvest B.V. (the Netherlands), the parent company of Metinvest international vertically integrated mining and metal group, saw $203 million in earnings before interest, tax, depreciation and amortization (EBITDA), while in the previous month the figure was $139 million.
According to a preliminary unaudited report published last week under international financial reporting standards, revenue in May 2016 was $533 million.
Revised EBITDA for May 2016 of the metal division was $127 million, while in April 2016 it was $77 million. EBITDA of mining division reached $78 million in May, while in April it was $68 million.
Expenses of the managing company were minus $6 million in May (minus $9 million in April) and internal sales within the group totaled $5 million ($3 million). Total EBITDA in May was $203 million ($157 million).
Total revenue consisted of revenue of the metal division of $425 million and the mining division of $199 million, internal sales of minus $91 million. Revenue in May reached $533 million.
Total debt in May grew by $86 million compared to April, to $2.937 billion. Cash decreased by $4 million, to $163 million.
KYIV. July 22 (Interfax-Ukraine) – The European Investment Bank (EIB) is ready to start additional projects worth some EUR 720 million with Ukraine, Ukrainian Deputy Prime Minister for European and Euro-Atlantic Integration Ivanna Klympush-Tsintsadze has said.
“There is an arrangement with the president of the European Investment Bank to start additional projects with Ukraine. They are ready to realize their plans by the end of 2016. We need to stay focused to draw up feasibility studies for the required projects and allow the money to enter this year,” the office of Klympush-Tsintsadze wrote on Facebook page.
She said that one of the projects relates to the Education Ministry: energy efficiency of educational institutions (EUR120 million), the second project – construction of Kaniv pumped storage hydroelectric station (EUR400 million) and the third one is upgrade of urban transport (EUR200 million).
“A project to electrify railways is being approved,” she said after a visit of the governmental delegation to Brussels.
KYIV. July 22 (Interfax-Ukraine) – Kyiv Regional Administration intends to present a project to build a big orbital road around Kyiv to investors by late July 2016, Kyiv region governor Maksym Melnychuk has said.
“One of the largest strategic projects [for Kyiv region] for this year is the bid ring road around Kyiv… I think that by late July Kyiv Regional Administration would have a chance to personally present the project to investors,” he said at a meeting with the U.S.-Ukraine Business Council (USUBC) in Kyiv on Thursday.
He said that the length of this road will be around 193 kilometers. Investment could reach some $2 billion.
“We are discussing it with some countries, for example, with France and China. They are ready to join the project,” he said.
He said that the condition that the road is left in ownership of Kyiv Regional Administration after its completion is important. This would open opportunities for investors to build hotels, filling stations and other facilities near it.
“The road would not be a toll road. Then we will be able to speak about this project as social project, but with large investment and business opportunities,” he said.