President of Ukraine Volodymyr Zelensky signed laws within the framework of the “customs visa-free regime”.
“I have just signed the documents on accession (of Ukraine) to the Convention on the Facilitation of Formalities in Trade in Goods and the Convention on the Joint Transit Procedure. They are the actual implementation of the” customs visa-free “. We did this in record time and absolutely smoothly by all branches of government,” Zelensky said in a video message.
At the same time, the head of state thanked the diplomats, government members and deputies who ensured such a result.
“Ukraine will be a full member of the EU. We are already closer to Europe than in previous decades,” the president said.
Ukrainian industry is one of the sectors of the economy most affected by the war. Since February 24, many large enterprises, primarily in the east and south of the country, have lost their production capacities, and the staff was forced to evacuate. At the same time, individual production facilities were transferred to the western regions, where they are being restored on the basis of more modern industrial facilities, such as industrial parks that appeared shortly before the war.
The Open4business portal spoke about the future of Ukrainian industry and the prospects for the restoration of production with Igor Stakovychenko, an expert in the field of economics.
According to the expert, the production of goods with high added value should become a priority for the development of the economy for decades to come.
“Before the aggression, our industry worked mainly according to standards that were not particularly modernized in 30 years of independence. This is the so-called canonical model, when you have raw materials, workshops, shipping, logistics, and so on. And there must also be stable consumers who will always buy products. Many plants with such a system failed the market test and closed down. Mostly giants remained, who more or less adapted. After the war, it will definitely not be possible to rebuild production in the same form, a fundamentally new model is needed, ”Igor Stakovichenko is sure.
The expert noted that in the modern world, the modernization of production involves the introduction of new management methods, as well as the creation of more adaptive sites, such as industrial zones or parks.
“If you have a workshop for the production of one specific part, which is itself part of a complex and long chain for creating the final product, then the situation above is rather precarious in modern conditions since you depend on many factors: suppliers, market situation, current conjuncture. If you have, for example, a 3D printer that can produce any shape to order for a specific client, then the situation is more stable for you, since you can quickly reorient yourself when the market changes. In the modern world, the industry is striving for greater universalization,” explained Igor Stakovichenko.
According to him, the restoration of the industry should begin now and be based, firstly, on the creation of industrial parks in safe regions, and secondly, on the modernization of existing industries for new models. As an example, Stakovichenko cites the development of this concept in Poland or the Czech Republic, where industrial zones already provide up to 50% of GDP.
“The government is now acting in the right direction, providing tax incentives to such industrial zones, this will lay the foundation for the rapid restoration of the country’s industrial potential in the post-war period,” Stakovichenko summed up.
ECONOMY, IGOR STAKOVICHENKO, INDUSTRY, MARKETS, PRODUCTION, STAKOVICHENKO
In January-July this year, Ukrainian Coke and Chemical Plants (CCP) reduced the production of gross coke with 6% moisture content by 53.4% compared to the same period last year, to 2.682 million tons.
At the same time, 224.4 thousand tons of gross coke were produced in July, including 191.8 thousand tons of metallurgical coke, Anatoly Starovoit, general director of the association of coke enterprises Ukrkoks (Dnepr), told Interfax-Ukraine.
According to him, for 7 months-2022, the production of metallurgical coke amounted to 2.3 million tons.
At present, Yuzhkoks, Kametstal (former DKHZ), DMZ (Dneprokoks), Zaporizhkoks and coke production at ArcelorMittal Krivoy Rog are operating, where coke oven batteries No. 1 and 2 are in operation.
The CEO also said that in 7 months-2022, 2.94 million tons of coal concentrate were supplied to domestic CCP, including 1.63 million tons of Ukrainian production, 622.9 thousand tons were imported from the Russian Federation (before the war), from Kazakhstan (before the war) – 65.4 thousand tons, Poland – 29.1 thousand tons, Czech Republic – 38.8 thousand tons, USA – 428.8 thousand tons and Australia – 126 thousand tons.
As reported, Ukraine in 2021 reduced the production of coke by 1.3% compared to 2020, to 9.543 million tons.
Chinese stock indices are falling in trading on Tuesday. The rest of the stock markets of the largest countries in the Asia-Pacific region (APR) traded in positive territory.
The Japanese Nikkei 225 index rose by 1.2% by 8:10 Moscow time.
Among the components of the index, the shares of NEC Corp. (+6.4%), industrial equipment manufacturer Mitsubishi Heavy Industries Ltd. (+5.2%) and Sumitomo Osaka Cement Co. Ltd. (+5%).
Unemployment in Japan in July remained at the June level of 2.6%, according to the data of the Ministry of Internal Affairs and Communications of the country. The indicator coincided with the average forecast of analysts surveyed by Trading Economics, and has been at this level for the third month in a row.
The number of unemployed decreased by 2.2% compared to July last year, to 1.76 million people, while the number of employed remained unchanged at 67.34 million people.
The Chinese Shanghai Composite index fell by 0.6% by 8:20 Moscow time, the Hong Kong Hang Seng fell by 1%.
In Hong Kong, Alibaba Health Information Technology Ltd. (-4.4%), biological Wuxi Biologics (Cayman) Inc. (-2.9%), PC manufacturer Lenovo Group Ltd. (-2.6%) and technological Meituan (-2.1%).
The market capitalization of real estate developer Country Garden Holdings Co. falls by 3.5%. The company’s net profit in January-June fell by 96%, adjusted – by 68% amid the crisis in the real estate sector in China.
Stock quotes of the investment CITIC Ltd. grow by 1.5% after the publication of financial statements for the first half of the year. The company’s net profit increased by 13%.
The South Korean index Kospi by 8:25 Moscow time rose by 0.9%.
Shares of one of the world’s largest manufacturers of chips and consumer electronics Samsung Electronics Co. grow by 0.3%, automaker Hyundai Motor Co. – by 3.7%.
The Australian S&P/ASX 200 rose 0.7%.
Paper Medical Healius Ltd. increase in price by almost 4%. The company’s net profit in the past financial year jumped 7 times.
The state-owned Ukrgasbank (Kyiv) repaid ahead of schedule UAH 1 billion of refinancing received from the National Bank of Ukraine (NBU) this year, the bank’s press service reported on Tuesday.
“On August 30, the state-owned Ukrgasbank made an early repayment of a refinancing loan in the amount of UAH 1 billion received from the NBU this year. The repayment was due to the positive dynamics of attracting funds from legal entities and individuals in August this year,” the report says.
JSB “Ukrgasbank” was founded in 1993. The state, represented by the Ministry of Finance, owns 94.94% of the shares of the financial institution.
According to the data of the National Bank of Ukraine, as of July 1, 2022, Ukrgasbank ranked 5th (UAH 139.671 billion) in terms of total assets among 68 banks operating in the country.
Stock indices of the largest countries of Western Europe are growing at the auctions on Tuesday, winning back the fall the day before.
The composite index of the largest companies in the region Stoxx Europe 600 by 11:20 pm increased by 0.87% and amounted to 426.32 points.
The German DAX index rises by 1.4%, the French CAC 40 – by 1.2%, the British FTSE 100 – by 0.6%. The Italian FTSE MIB and the Spanish IBEX 35 are up 1.5% and 1% respectively.
Consumer prices in Spain, harmonized with EU standards, increased by 10.3% in annual terms in August, preliminary data from the Spanish statistical office INE showed. Inflation slowed down from 10.7% in July and was below the 10.4% forecast by analysts polled by The Wall Street Journal.
The slowdown in consumer prices is associated with a slowdown in the rise in energy prices, the INE report notes.
On a monthly basis, consumer prices in the country rose by 0.1% in August. In the previous month, prices decreased by 0.6% compared to June.
Among the growth leaders in the Stoxx 600 are the shares of the Norwegian IT company Adevinta ASA (+13.8%), the Danish manufacturer of diagnostic equipment Ambu A/S (+7%), the British footwear manufacturer Dr. Martens PLC (+5%) and French digital Atos SE (+4.7%).
The drop leaders in Europe are shares of mining and energy companies, including Polymetal International PLC (-3%), Orron Energy AB (-2.8%), Dino Polska S.A. (-2.3%), Equinor ASA (-2%), Antofagasta PLC (-1.9%) and BHP Group Ltd. (-1.8%).
