Business news from Ukraine

Business news from Ukraine

VOLUME OF CONSTRUCTION PRODUCTS PRODUCED BY TYPE IN JAN-JULY OF 2021 (MLN UAH)

Volume of construction products produced by type in Jan-July of 2021 (mln UAH)

ISRAELI PRESIDENT TO PAY FIRST OFFICIAL VISIT TO UKRAINE

On the occasion of the 80th anniversary of the murders in Babyn Yar, Israeli President Isaac Herzog will make his first official visit to Ukraine, according to the Israeli Embassy in Ukraine.”During his official visit to Ukraine, President Herzog will speak at events dedicated to the 80th anniversary of the Babyn Yar massacre, meet with President Volodymyr Zelensky and Prime Minister Denys Shmyhal, address the Verkhovna Rada and meet with representatives of the Ukrainian Jewish community. The visit is expected on October 5 to 7, 2021,” the embassy said in the statement, which was provided to Interfax-Ukraine on Wednesday.
The Duke will arrive in Ukraine on Tuesday, October 5, 2021, on the first official visit of his presidency, at the invitation of President Volodymyr Zelensky.
During the visit, President Herzog will take part in the official international ceremony dedicated to the 80th anniversary of the murders at Babyn Yar, the opening of Kyiv Holocaust Memorial Center in Babyn Yar. Zeev Elkin, a government representative in Ukraine, and other members of the Knesset will also join the presidential delegation, the embassy said.
“There is a need to keep talking about this terrible event and learning its lessons. The Holocaust Memorial Center at Babyn Yar is an important place to celebrate this painful memory and to make a statement that we must continue to make together: never again. The only way to build a present and a future in which crimes against humanity will not find support – it is to study the past, including the Holocaust and the persecution of the Jewish people, in the spirit of the commandment “and you will tell your son and daughter.” I welcome the invitation of President Zelensky and his dedication to the war against anti-Semitism,” the embassy said.
On the morning of Tuesday, October 5, President Herzog will fly to Ukraine, where he will start his visit by laying a wreath at the Tomb of the Unknown Soldier in Kyiv, and then go to an official reception at the Mariinsky Palace, which will start with a guard of honor.
Later, President Herzog will meet with President Zelensky. The meeting will be followed by a joint press statement. In the evening, President Zelensky will receive President Herzog at an official dinner.
On Wednesday morning, President Herzog will address the Verkhovna Rada. On the same day, President Herzog will take part in an event with the local Jewish community and will meet with President of the Federal Republic of Germany Frank-Walter Steinmeier, who will also attend the Babyn Yar memorial ceremony.
On Wednesday afternoon, President Herzog will deliver a speech at the official ceremony to commemorate the 80th anniversary of the Babyn Yar murders at the Babyn Yar Holocaust Memorial Center in Kyiv, the embassy said.

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DEVELOPMENT OF R&D WILL BE ONE OF KEY ASPECTS OF FARMAK’S STRATEGY

The development of R&D and product portfolio will become one of the key aspects of the new development strategy of Farmak pharmaceutical company (Kyiv) until 2028.
The company told Interfax-Ukraine that along with these areas, Farmak will focus on launching the Biotech area, entering the U.S. market and strengthening its positions in the CIS countries.
“The new strategy is based on four key priorities for the development of the enterprise: take the position of an unattainable leader in Ukraine, consolidate and develop success in the CIS countries, become a successful player in the global market, strengthen the employer’s brand and be a company employing the best market specialists,” it said.
Farmak noted that in previous years, investments were made in production facilities.
“Now the company operates a new modern aseptic production, the equipment of six workshops has been updated, a new plant for the production of APIs has been opened in Shostka (Sumy region). The key aspects of the new strategy are the development of R&D and product portfolio, the launch of the Biotech direction, entry into the U.S. market and the strengthening of positions in the CIS countries,” the company said.
It is specified that Farmak will continue its strategy of reinvesting in development up to 90% of the received profit. The overall dynamics demonstrates the annual growth of the company’s financial indicators. Capital investments in 2020 amounted to UAH 1.3 billion, which is 78% more than in 2019. In the first half of 2021, sales revenue shows an increase of 28.3% compared to 2020, capital investments amounted to UAH 756 million, which is 12% more than in the first half of 2020.
In addition, the company stressed the importance of human resource development.
“The transformation of the company into an international one requires the involvement of specialists with unique knowledge, so it is necessary that all employees have a high level of English proficiency. Now it is planned to create international teams and exchange of personnel between the parent company and subsidiaries. This will help synchronize and strengthen the teams, provide new knowledge and will open up new horizons for the implementation of the set goals,” Farmak said.
As specified, in the course of implementing the strategy, Farmak plans to increase the global export of target products.
“Since the beginning of the year, the company has extended its presence in Latin America, opened an office in the UAE and a representative office in Vietnam. In the future, an even larger-scale entry into international markets is planned. One of the most important steps is entering the U.S. market, as well as the localization of business in Uzbekistan, which occupies 50% of the structure of shipments to the CIS countries,” Farmak added.
In addition, it is planned to improve the portfolio through a focus on new drugs.
“Farmak sees the future in the development of modern, high-tech drugs. In 2023, it is planned to open a new R&D center, which will significantly expand the scientific base, will allow developing drugs that are in demand all over the world, for example, developing an oncological portfolio. Special attention will be paid to for the launch of the Biotech direction. In matters of biotechnological medicines Farmak closely cooperates with consultants from Germany, Spain and the United States,” the company stressed.
In addition, the company noted the role of total digitalization of production processes. In particular, in the coming years, a complete transition to electronic quality certificates, electronic research protocols, electronic dossiers, and e-serialization of products is planned.
As reported, in September 2021, Farmak presented the new development strategy “Farmak 2.0: from local to global success.” A detailed plan has been developed until 2028, the main goal of which is transformation from a local leader into an international company.
Farmak is the leader of the Ukrainian pharmaceutical market. The product portfolio includes more than 220 complex component modern medicines. Among the main directions are endocrinological, gastroenterological, cardiological, neurological, anti-cold and other drugs.

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CABINET OF MINISTERS TO SUBMIT SPACE PROGRAM WITH UAH 15.8 BLN FUNDING

The Cabinet of Ministers of Ukraine on September 29 supported the bill on approval of the national target scientific and technical space program of Ukraine for 2021-2025 with an approximate amount of funds for its implementation of UAH 40.78 billion, including UAH 15.76 billion from the state budget.
“The program provides for the implementation of a number of tasks, in particular, the implementation of space activities in the interests of national security and defense, the creation of space Earth observation systems and their components, the introduction of space technologies in the service market,” Deputy Prime Minister – Minister of Strategic Industries Oleh Urusky commented on the document on Facebook.
He noted that, according to preliminary estimates, indirect income for this period and additional benefits in the field of national security, public administration and ecology will exceed UAH 16 billion. The largest revenue is expected in agromonitoring, ecology, security and defense segments.
At the same time, an explanatory note to the document indicates that so far in the Budget Declaration for 2022-2024 the State Space Agency of Ukraine has brought the maximum expenditure figures for these years at UAH 95 million annually.
According to the draft program, if in 2021 its funding is planned in the amount of UAH 900 million, including UAH 195 million from the state budget, then in 2022 it is planned to increase it to UAH 10.5 billion, including UAH 4.8 billion from the state budget.

132,000 PEOPLE VACCINATED AGAINST COVID PER DAY IN UKRAINE

Over the past day, 132,246 people were immunized, the press service of the Ministry of Health of Ukraine reported on Telegram.
“A total of 132,246 people were vaccinated against COVID-19 over the past day on September 28, 2021. One dose was received by 75,188 people, 57,058 people were fully immunized,” the message said on Wednesday morning.
It is noted that 897 mobile teams, 3,063 vaccination points, 345 vaccination centers worked during the day.
The Ministry of Health reported that 6,926,719 people have been vaccinated since the beginning of the vaccination campaign, of which 6,926,717 received one dose, and 5,565,270 people received two doses (two of them received one dose abroad).

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UKRAINIAN UNIVERSITIES MANAGE TO ADAPT TO NEW WORKING CONDITIONS DURING COVID PANDEMIC

Higher education institutions have been able to adapt to new working conditions during the COVID-19 pandemic, which has accelerated the digital transformation.
“We can say that COVID-19 even had a positive impact on the activities of the university. In what way. It accelerated the transition to digital technologies, to create new communication platforms between teachers,” head of the educational department of the Kyiv National University of Construction and Architecture Andriy Shpakov said during the press conference at the press center of the Interfax-Ukraine information agency.
At the same time, he said that the negative side of the issue is that the remote format requires more preparation time.
“Coronacrisis is not only challenges and problems, but also a new window of opportunity and new horizons,” Vice-Rector for Scientific and Pedagogical Work of the Kyiv National Economic University named after Vadym Hetman, Anatoliy Kolot said.
At the same time, Deputy First Vice-Rector, Head of the Scientific and Methodological Department of Ihor Sikorsky Kyiv Polytechnic Institute Serhiy Hozhiy said that their university laid the foundations for distance learning even before the coronavirus pandemic, which made it possible to quickly adapt to the new conditions of the educational process.
Also, head of the Department of Management and Economics of the International European University Yulia Remyha said that the university has fully adapted to the challenges that the pandemic has brought, in particular to distance learning.

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