Business news from Ukraine

Business news from Ukraine

UKRAINIAN HEALTH MINISTRY SIGNS MEMO WITH U.S. PHARMA COMPANY MEDTRONIC

The Health Ministry of Ukraine signed a Memorandum of Cooperation with the leading U.S. company Medtronic during the working visit of President of Ukraine Volodymyr Zelensky to the United States, according to the agency’s website.

“The signing of the memorandum will allow us, together with Medtronic, to work in the field of innovative biomedical technologies, to receive significant support to improve the qualifications of our doctors, to introduce effective screening solutions for the implementation of the Healthy Ukraine presidential program,” Health Minister Viktor Liashko said.

According to the statement, it is planned to expand cooperation in the field of comprehensive counteraction to cardiovascular diseases and the introduction of innovative technologies to prevent complications in patients with diabetes mellitus.

“Within the cooperation, we agreed to consider the possibility of localizing the production of certain medical devices of the company in Ukraine within the government support for projects with significant investments, the so-called investment nannies, as well as expanding Medtronic’s cooperation with Ukrainian companies specializing in IT solutions,” the Health Ministry said.

In addition, cooperation in the scientific field is planned.

Medtronic is a global leader in health technology and related services. It has a strong presence in Eastern Europe, trains doctors in all possible areas of medical care for the treatment of more than 70 different chronic and non-communicable diseases.

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QATARI COMPANY LOOKING FOR PARTNERS IN UKRAINE TO PRODUCE ANIMAL FEED AND EGGS

Qatari entrepreneurs are seriously interested in investing in Ukraine, including one of the largest agricultural companies in the country, Hassad Food, which is looking for partners for the production of animal feed and eggs, the Ukrainian Chamber of Commerce and Industry (UCCI) reported on its website.
According to its data, representatives of the largest companies of Qatar arrived in Ukraine as part of a delegation to participate in the second meeting of the joint commission on economic, trade and technical cooperation between the governments of Ukraine and Qatar.
It is clarified that Ukrainian grain traders and animal feed manufacturers at a meeting with Hassad Food Executive Director Mubarak Al-Suhooti discussed prospects for cooperation.
“The international campaign Hassad Food Company invests in production in other countries. In Ukraine, in particular, they are looking for partners for the production of animal feed and eggs, so Ukrainian entrepreneurs presented their capabilities,” the UCCI said.
During the talks between President of the Ukrainian Chamber of Commerce and Industry Hennadiy Chizhikov and First Vice Chairman of the Qatar Chamber of Commerce and Industry H.E Ali bin Ahmed Al Kuwari, the latter said that Qatari entrepreneurs are considering Ukraine for investment.
Chizhikov stressed that the composition of the representatives of the Qatari delegation testifies to the serious investment interest of this country in Ukraine. He urged Ukrainian business to take advantage of trade opportunities.

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CONSUMER CONFIDENCE INDEX OF UKRAINIANS FALLS TO 71.3 POINTS IN JULY

Consumer Confidence Index (CCI) of Ukrainians, after rising by 1.7 points in June, decreased by 1.6 points in July – to 71.3 points on a 200-point scale, according to a study by Info Sapiens agency.
“Most components of the Consumer Confidence Index in July 2021 are stable and have not changed compared to June. However, there is a tendency to reduce the Index of Expected Changes in Personal Financial Standing, which may be associated with an increase in gas prices,” the agency’s website says.
According to the study, Index of the Current Situation (ICS) has increased and equals 68.2, which is 0.2 points higher than in June. Index of Current Personal Financial Standing equals 61.2, which is 0.2 points higher than the indicator in June. Index of Propensity to Consume increased by 0.2 point to the level 75.2 points.
In July, Index of Economic Expectations (ІЕE) equals 73.3, which is 2.9 points lower that the level of this indicator in June. Index of Expected Changes in Personal Financial Standing equals 75.3, which is 4.1 points lower than in June. Index of Expectations of the Country’s Economic Development over the Next Year equals 65.9 which is 0.9 points lower than the level of this indicator in June and Index of Expectations of the Country’s Economic Development over the Next 5 Years decreased by 3.6 points compared to last month and equals 78.8.
Info Sapiens indicates that the indicator of Index of Expectations of Changes in Unemployment has decreased by 1.2 points and equals 137.4 and Index of Inflationary Expectations increased by 3.8 points and equals 192.
Expectations of Ukrainians regarding the hryvnia’s exchange rate in the coming three months have improved: Index of Devaluation Expectations increased by 11.4 points and equals 139.4.

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SUGAR PRODUCTION IN UKRAINE WILL GROW BY 30%

Sugar production in Ukraine in the 2021/2022 marketing year (MY, September-August) is expected to reach 1.4 million tonnes, which is 30% more than in the previous MY, the total sugar supply in the country will be sufficient to meet domestic demand, according to the Ministry of Economy.
According to a report on the agency’s website, taking into account the growth in sugar production in the current MY and its significant residues (420,000 tonnes), which are transferred from the last MY, the total sugar supply this season will amount to 1.74 million tonnes. The Ministry of Economy specified that these volumes will be quite enough to meet domestic demand, which is approximately 1.25 million tonnes.
“At present, the sugar industry of Ukraine allows producing up to 2 million tonnes of beet sugar per year, which fully meets the country’s internal needs,” the ministry explains.
The Ministry of Economy recalled that in the 2020/2021 MY sugar production in Ukraine decreased by a quarter compared to 2019/2020 MY, to 1.1 million tonnes due to unfavorable weather conditions.
In the current MY, 33 enterprises of the industry intend to produce sugar, which corresponds to the data for 2020, the report says.
“There is a gradual decrease in sugar consumption by Ukrainians. If in 2008 the average Ukrainian consumed about 41 kg of sugar and sugar-containing products during the year, then in 2020 – 28.5 kg. Such a decrease is also associated with a change in food culture and a decrease in sugar consumption in related industries,” the Ministry of Economy summed up, citing data from the State Statistics Service.

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TERNOPIL AND RIVNE ARE LEADERS IN CONSTRUCTION WORK IN UKRAINE

The volume of construction work performed in Ukraine in July 2021 increased 0.5% compared to the same period in 2020.
According to the State Statistics Service, in January-July 2021 compared to January-July 2020, the index of construction products amounted to 100%. The volume of construction work completed amounted to UAH 76.8 billion.
According to the statistics authority, in July 2021 the seasonally adjusted index of construction products amounted to 92.6% compared to the previous month.
The State Statistics Service reported that in July 2021 compared to July 2020, an increase in the volume of construction work was observed in residential construction by 40.2%, nonresidential – by 1.1%, while in engineering it fell by 9%.
The share of new construction of the total volume of completed construction work was 35.6%, the share of repair was 36.5%, and reconstruction and technical re-equipment was 27.9%.
An increase in the volume of construction work in January-July 2021 compared to January-July 2020 was recorded in Ternopil (by 54.8%, to UAH 1.8 billion), Rivne (by 23.9%, to UAH 1.6 billion), Volyn (by 10.8%, to UAH 1.2 billion), Cherkasy ( by 18.8%, to UAH 1.3 billion), Ivano-Frankivsk (by 14.8%, to UAH 1.8 billion), Khmelnytsky (by 13%, to UAH 2.7 billion), Odesa (by 5.8%, to UAH 11.9 billion), Donetsk (by 6.5%, to UAH 4.1 billion), Kharkiv (by 9.4%, to UAH 9 billion), Kyiv (by 8%, to UAH 7 billion UAH) regions and Kyiv city (by 0.3%, to UAH 22.3 billion).
In other regions, there was a decrease in construction volumes. The most significant drop was seen in Chernivtsi (by 30.6%) and Kirovohrad (by 33.2%) regions.

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MORE THAN 120 POLICE OFFICERS MONITOR ORDER AT AIRPORT ON DAYS OF HASIDIC PILGRIMS’ ARRIVAL

More than 120 police officers of Kyiv region provide protection of public safety and order at the Boryspil airport during the arrival of Hasidic pilgrims, the Interior Ministry’s Telegram channel reported on Wednesday.
“The police are carrying out a set of security measures so that Israelis and citizens of other foreign countries can celebrate the Jewish New Year in safety. A number of services are involved in ensuring public safety and order: Boryspil district police, patrol police, special police, explosives, dialogue police and more than 50 servicemen of the National Guard,” the report said.
There is also a Situation Center at the airport, which is also responsible for coordinating the activities of the law enforcement units involved.
As reported, this year the mass celebration of the Jewish New Year falls on September 6-8. Several thousand Hasidic pilgrims have already arrived in Uman, Cherkasy region, to celebrate the Jewish New Year of Rosh Hashanah in advance, as not everyone was able to attend the celebration last year due to intensified anti-epidemic measures. In total, the State Border Guard Service of Ukraine expects the arrival of more than 20,000 believers this year.
It is known that every autumn pilgrims go to Uman to celebrate Rosh Hashanah on the grave of their spiritual leader Nachman. He was born in the town of Medzhybizh (Khmelnytsky region now) in 1772 (5532 from the creation of the world according to the Jewish calendar). Then he led a nomadic lifestyle, visited different towns of Ukraine, mainly Medvedivka and Zlatopil, and spent the last eight years of his life in Braslav (now – Belarus). In 1808, Rabbi Nachman contracted tuberculosis and settled in Uman, where he was buried in 1810. Since then, the city has become a center of Hasidic worship, where they gather from all over the world every Jewish New Year.

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