The Ministry of Economy together with USAID launch a grant program for medium and large enterprises for $15 million, under which one business will be able to receive a grant from $250 thousand to $2 million.
“Businesses with an estimated minimum annual sales volume of $8 million in hryvnia equivalent are invited to participate in the program. This indicator is important due to the fact that the target increase in sales by the results of the concept should be at least $2 million,” – said in the release of the Ministry of Economy.
It is indicated that the grant funding should be directed by the program participants to business development, in particular, to increase sales, increase exports and create new jobs.
The condition for participation in the program is the investment of additional funds – own funds of the enterprise or other resources attracted by the enterprise. The selection of the program participants will take place in two stages: the first stage – evaluation of concepts, the second stage – evaluation of detailed grant applications from the participants who passed the first stage. One of the criteria for evaluating concepts will be the number of jobs created.
It is specified that concepts should be submitted no later than February 29, 2024. It is expected that they will be implemented within 12-24 months.
Coal Energy, a coal mining company with assets in Ukraine, has acquired 100% of shares of Advanced industrial technologies Sp. z o.o. (Katowice, Poland) for EUR295 thousand (UAH 12.124 million).
According to Coal Energy’s announcement on the Warsaw Stock Exchange on Friday, the purchase was made in accordance with the company’s new development strategy for 2023-2026. Payment for the deal will be made within three months after the agreement is signed.
Advanced industrial technologies was established in 2018 and provides underground mining services for coal mines in Poland.
DIM Group built more than 45 thousand square meters in 2023 and plans to commission approximately 100 thousand square meters of real estate, said Daria Bedia, Marketing Director.
“This year we have built more than 45 thousand square meters. We expect to receive certificates in two of our projects in the near future: the eco-city of Lucky Land and the multifunctional cluster of Park Lake City. Next year, we plan to commission about 100 thousand square meters. We are preparing several new projects to be launched, which we want to present to the market,” Bedia told Interfax-Ukraine.
She stated that since the spring of 2023, the company has been recording a steady increase in demand in the range of 5-6% per month in comfort+ and business class projects.
“In total, we managed to return more than 45% of the pre-war demand. And this is high-quality demand that is converted into real transactions. This is very important, as it indicates the liquidity of the product (concept, format, quality characteristics of the residential complex) and the high pace of construction,” Bedia said.
At the same time, the weighted average growth in construction costs for the year was almost 45% due to higher prices for construction and installation works due to inflation, lack of qualified personnel, and indexation of builders’ salaries. In addition, this was caused by the rise in the cost of construction materials due to the lengthening and changing of supply chains, rising prices for raw materials, and the loss of production capacity in the eastern and southern regions.
According to her, the level of demand is directly influenced by the project itself and its concept, as well as the stage of construction and whether active construction work is underway at the site. Buyers are ready to enter the project not at the stage of the pit, but at least with a readiness of 30-40%.
“Important criteria are the developer’s reputation, ability to keep their word in terms of terms and promises, as well as flexible purchase terms for both 100% payment and installment payments. According to our observations, the demand for long-term installments of more than 3 years has increased by a third in just one year,” Bedia said.
She noted that the key factors in the choice are the type and quality of materials: brick or ceramic block, noise-absorbing windows with magnetropic coating, high-speed elevators from the best manufacturers. Much attention is paid to the service company, spatial zoning of the territory, landscape design, security and concierge service.
A diverse multifunctional infrastructure that reflects the expectations of the target groups of buyers, a well-thought-out apartment layout and a variable range of planning solutions, and the energy independence of the complex, in particular, the availability of alternative power sources for water supply or power for elevator equipment, are mandatory.
According to Bedi, most buyers in the comfort+ segment are interested in one-bedroom apartments of 40-47 sq. m. with a kitchen-living room of 20 sq. m. and a separate bedroom with a dressing room. The top two-room apartments are 68 to 75 sq. m. with two separate bedrooms, a kitchen-living room of 20 sq. m., and three-room apartments are 85-90 sq. m. with three separate bedrooms, one of which is a master bedroom with its own bathroom and wardrobe, a large kitchen-living room is also a priority.
“The area of 1-room apartments, which are most often bought in the business segment, reaches 50-55 sq. m., 2-room apartments – 75-80 sq. m., 3-room apartments – 100-120 sq. m. The mandatory attributes of such apartments are a large living area with panoramic windows of 30 sq. m. or more, a master bedroom with a dressing area and a separate bathroom of 20 sq. m., a children’s room of 25 sq. m. or more with a wardrobe,” the expert said.
DIM Group was founded in 2014 and consists of six companies covering all stages of construction. To date, it has commissioned 12 houses in six residential complexes with a total living area of more than 218 thousand square meters. Six residential complexes of “comfort+” and “business class” categories are under construction: “New Autograph, Metropolis, Park Lake City, Lucky Land, etc.
The Cabinet of Ministers has extended restrictions on trade with Russia until December 31, 2024.
According to the Cabinet’s representative in the Verkhovna Rada Taras Melnychuk in Telegram, the relevant decisions were taken at a government meeting on Friday.
In particular, the government decree of December 30, 2015 № 1147 “On the ban on the importation of goods originating from the Russian Federation into the customs territory of Ukraine” until December 31, 2024 (inclusive) was extended.
In addition, the decree of December 30, 2015 No. 1146 “On the rates of import duty in respect of goods that originate from the Russian Federation” was extended until December 31, 2024.
CABINET OF MINISTERS, restrictions on trade, Тарас Мельничук
The National Bank of Ukraine (NBU) together with international partners, in particular the World Bank and the European Bank for Reconstruction and Development (EBRD), are preparing a new mechanism for settling military risks, which they plan to present no later than the first quarter of 2024.
As noted on the NBU Facebook page, during the meeting of the regulator’s management with participants of the insurance market, the head of the National Bank Andriy Pyshnyy emphasized the importance of the introduction of insurance of political-military risks, which should be fully operational next year.
It was also noted that one of the priorities of the National Bank in 2024 is the development of a competitive, adaptive and cost-effective insurance market.
“New requirements for insurance companies bring us closer to European standards of regulation and supervision. Therefore, the implementation of new norms is a priority, and integration into the European community is task No. 1. We will have to move as fast as possible, but you can count on comprehensive support and mature constructive dialog,” Pyshny said, speaking about the importance of such changes for domestic insurance.
It was noted that in 2024, in particular, will begin the application of risk-oriented prudential supervision and improvement of requirements for the solvency of insurers, as well as a new type of supervision of market behavior of insurers to control compliance with the rules and standards of financial services.
“The National Bank is strengthening its staff with specialists who will evaluate insurers’ business models using a risk-based approach. Special attention will be paid to the assessment of insurers’ assets – property and securities, the value of which should be market-based,” Deputy Head of the NBU Dmytro Oleinik said during the meeting.
Separately, emphasis was placed on the importance of the work of financial monitoring units of insurers as a safeguard to attract companies to money laundering schemes, in particular for the purpose of tax evasion, and to limit ties with Russia.
At the same time, it was noted that the work continues in the Parliament to finalize the text of the new law “On compulsory insurance of civil liability of owners of land vehicles,” which should be adopted under the IMF program by the end of May next year.
Now insurance companies will have to prepare for the renewed field inspections by the National Bank in order to eliminate possible violations of the law in advance, emphasized representatives of the regulator.
Andriy Pyshnyy, EBRD, European Bank for Reconstruction and Development, NATIONAL BANK OF UKRAINE, NBU, WORLD BANK
Motor (Transport) Insurance Bureau of Ukraine (MTSBU) has made 6.763 thousand payments from the Victims Protection Fund (VPF) in January-November 2023, which is 33.2% more than in the same period of 2022. According to the MTSBU report on its website, the total amount of such payments increased by 44.6% to UAH 393.7 million compared to January-November.
The largest volume of payments – UAH 269.5 mln, or 68.5% in terms of the amount and 4.3 thousand in terms of the number of payments for damage caused by the perpetrators of road accidents who do not have a valid CMTPL insurance policy. Compared to the corresponding period of 2022, the number of such payments increased by 33%, the amount – by 89.1%.
This trend is increasing due to the socio-economic consequences of the war.
For drivers of privileged categories from the FZP during the reporting period, almost 1.1 thousand payments were made for the amount of UAH 72.9 million, which is 28.8% more in number and 46.7% more in amount than in the same period of 2022.
In January-November 2023 the MTSBU paid UAH 12,1 mln on liabilities of insurance companies that have ceased their activity and recognized as bankrupt.
For the liabilities of companies that have ceased to operate in the MTPL insurance market, but recognized bankrupt in accordance with the procedure established by law, payments were made at the expense of the guarantee contributions of such insurers in the amount of UAH 34.4 million available in the MTSBU FZP.
The MTSBU also notes that the minimum regulatory payments for accidents caused by an unidentified vehicle (such cases are paid only on the fact of threat to life and health) remain UAH 4.4 mln, and those caused by cars that were seized as a result of unlawful actions – UAH 0.22 mln.
Motor (Transport) Insurance Bureau of Ukraine, Victims Protection Fund, МТСБУ
