Business news from Ukraine

Business news from Ukraine

AVERAGE RECEIPT AMOUNT OF FOREIGN PATIENTS IN UKRAINIAN CLINICS INCREASES TO $2,800 IN 2019

The average receipt amount of foreign patients in Ukrainian clinics in 2019 increased from $2,000-2,500 to almost $2,800, Vice President of the Ukrainian Association of Medical Tourism (UAMT) Ihor Torsky has said. “According to our annual research, this indicator is growing. In 2019, the average check of one foreign medical tourist was about $2,800. It is possible that in 2020 this figure will be even higher,” he said at a press conference devoted to the Global Medical Tourism Forum Healthcare Travel Forum 2020, which will be held in Kyiv city and Lviv region April 22-25, 2020.
At the same time, Torsky said that the development of high-tech medical technologies and innovative treatment methods contributed to the increase in the average check of foreign patients.
At the same time, according to him, the increase in the average check was also influenced by the pricing policy of the clinics.
“This is an increase in prices. We do not always agree and discuss the feasibility of such an increase with clinics. I want to advise the representatives of the clinics to be careful with the pricing policy, since we are in a highly competitive world of medical tourism,” he said.
At the same time, Torsky said that the average check of foreign patients in Ukrainian clinics differs by region.
“In Kyiv, the average check is about $3,240, in Lviv this amount is lower, because the structure of the provision of services differs from region to region,” he said.
According to him, in the country’s clinics reproductive medicine and cell technology are the most developed. “These industries are high-tech. They require fairly accurate laboratory equipment and highly qualified specialists. Ukraine in these two areas is one of the world’s leaders,” he said.

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NUMBER OF GREEN CARD INSURANCE CONTRACTS IN UKRAINE UP BY 43%

The number of Green Card international insurance contracts signed by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 43.23% in January-November 2019 compared to the same period in 2018, to more than one million.
According to the MTIBU’s website, the amount of accrued insurance premiums for the specified period increased by 28.05% compared to the same period last year, to UAH 1.541 billion.
At the same time, the amount of compensation paid on claims rose by 30.26%, to EUR 13.664 million, while the number of claims paid grew by 14.14%, to 5,296.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for damage caused to third parties.

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VELTA INDUSTRIAL AND COMMERCIAL FIRM WITH TITANIUM ORE PRODUCTION ASSETS IN UKRAINE SIGNS $100 MLN CONTRACT WITH LUXEMBOURG TRAXYS

Velta industrial and commercial firm LLC with titanium ore production assets in Ukraine (Kirovohrad region) has agreed to supply $100 million of ilmenite, a titanium feedstock, under a five-year supply contract with the Traxys Group, a global commodity trading group, aimed at meeting the needs of the North American market.
Velta said in press release that it has been working in the U.S. market for seven years.
“Given that North America is one of the most stable and fast growing markets, we have decided to enter a longer-term contract, which will ensure additional stability of the company’s operations,” CEO of Velta Andriy Brodsky said.
He said that the main competitive advantage of Velta is that the company produces high-quality high-titanium feedstock, which is currently scarce in the world and in great demand in the U.S. market.
“Titanium Dioxide pigment is a core business of our group. We are pleased to partner with such a high quality and reliable miner as Velta,” Traxys Head of Industrial Minerals Eli Skornicki said.
According to the press release, the ultimate consumer under the contract is Chemours. Chemours is a new kind of chemistry company driven by their purpose to create a more colorful, capable, and cleaner world through the power of chemistry. Chemours is one of the world’s largest manufacturers of titanium dioxide (TiO₂). The company’s Ti-Pure™ brand delivers industry-leading innovation to address the growing worldwide demand for high-quality TiO₂ by developing brighter, more efficient pigments for the coatings, plastics, and laminates markets. Its annual sales exceed $6.5 billion. Chemours employs more than 7,000 people worldwide.
Traxys, headquartered in Luxembourg, is a physical commodity trader and merchant in the metals and natural resources sectors. Its logistics, marketing, distribution, supply chain management and trading activities are conducted by over 400 employees, in over 20 offices worldwide, and its annual turnover is in excess of $7 billion. The group serves a broad base of industrial customers and offers a full range of commercial and financial services.
Velta LLC has been mining and processing titanium feedstock at Byrzulivske deposit in Kirovohrad region since 2012. The company also holds a license for the industrial development of Likarivske deposit with similar feedstock. From 2012 to 2019, Velta mined 1 million tonnes of ilmenite. The total number of jobs exceeds 500. Velta founded a research and development center Velta RD Titan that works on creating new methods for processing titanium feedstock.

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UKRAINIAN AIRPORTS SEE 18.5% RISE IN PASSENGER FLOW IN 2019

Ukrainian airports tentatively serviced 24.337 million passengers in 2019, which is 18.5% more than in 2018.
According to a posting on the website of the State Aviation Administration of Ukraine, the passenger flow on it routes grew by 19.8%, to 21.996 million people.
The administration said that in 2019, Ukrainian airlines serviced 13.722 million people, which is 9.5% more than in 2018. A total of 12.56 million passengers were carried on international routes (growth by 9.7% compared with 2018).
Last year, Ukrainian airlines performed 102,600 commercial flights (an increase of 2.4% compared to 2018), including 86,200 international one (an increase of 2.6%).
As reported, in 2018 the passenger flow of Ukrainian airports amounted to 20.546 million people, which corresponds to a 24.5% increase compared to 2017.

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OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JANUARY 14

Official rates of banking metals from national bank as of January 14

One troy ounce=31.10 grams

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 14/01/20

National bank of Ukraine’s official rates as of 14/01/20

Source: National Bank of Ukraine