Business news from Ukraine

Business news from Ukraine

UKRAINE REFUSES TO PURCHASE ELECTRICITY OF BELARUSIAN NPP

Ukraine has refused to buy electricity from the Belarusian nuclear power plant (NPP), Lithuanian Prime Minister Ingrida Šimonytė said following talks with Ukrainian Prime Minister Denys Shmyhal in Vilnius on Thursday.
At a joint press conference, she welcomed Ukraine’s withdrawal from dangerous suppliers and its desire to join the European ENTSO-E electricity market.
According to her, the “green” transition is also important.

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EU TO MOBILIZE EUR 17 BLN FOR EASTERN PARTNERSHIP COUNTRIES

The EU will mobilize EUR 17 billion in investments for the Eastern Partnership countries to develop a more dynamic economy and society in the region, said EU Commissioner for Enlargement and Neighborhood Oliver Várhelyi.
Várhelyi said at a conference on Ukraine reforms, which is taking place in Vilnius on Wednesday, that he is in Georgia today, but glad that he can join the conference via video link. He said he was engaged in delivering a very positive message for the Eastern Partnership countries, including Ukraine, about a significant new economic and investment plan for the region, adding that they are mobilizing EUR 17 billion investment for the region, in order to build new, more sustainable and more dynamic economies and societies in the region.

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DENMARK AND UKRAINE SIGN ENERGY PARTNERSHIP PROGRAM AGREEMENT

Ukraine and Denmark have signed a cooperation agreement that opens up opportunities for companies working with green energy, among other things, the press service of the Ministry of Energy said.

“The agreement between the Ministry of Energy of Ukraine and the Ministry of Foreign Affairs of the Kingdom of Denmark will mark a new stage in deepening intergovernmental cooperation, which will focus on strengthening the environment for sustainable energy solutions and technologies based on Danish experience and technical assistance, as well as opportunities for companies working with ‘green’ energy,” the message says.

According to Minister of Energy of Ukraine Herman Haluschenko, “Denmark is one of the European leaders in the implementation of the transition to ‘green’ energy. Ukraine, in turn, shares the goals of the European Green Deal. Therefore, I see significant potential for deepening cooperation between our states in the development of renewable sources of energy and enhancing energy security.”

The press service of the Ministry of Energy noted that Ukraine is making significant efforts to implement projects aimed at reducing traditional energy consumption, increasing energy efficiency and introducing energy-saving technologies. The draft National Energy Efficiency Action Plan developed by the Ministry of Energy provides for a decrease in final energy consumption by more than 17% by 2030.

In its turn, the Danish Energy Agency will contribute in the form of consultations, technical assistance and mutual training of specialists from the Ukrainian energy sector.

“The energy partnership with Denmark will help improve conditions for the introduction of the latest environmentally friendly energy technologies and attracting investments in sustainable energy,” Haluschenko said.

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DNIPROVSKY INTEGRATED IRON & STEEL WORKS PUT UP FOR SALE FOR UAH 8.4 BLN

Arbitration manager Oleksiy Sokol put up in ProZorro. Sales as part of the bankruptcy of PJSC Dniprovsky Integrated Iron & Steel Works (DMK, Kamianske, Dnipropetrovsk region) its single property complex with an initial price of UAH 8.4 billion.
According to information in ProZorro. Sales, applications are accepted until July 25 inclusively, and the auction is scheduled for July 26.
The materials specify that the possibility of price reduction is not provided, the buyer will be the legal successor of PJSC DMK, which currently employs 8,772 people.
As reported, the DMK was being reorganized as part of the bankruptcy proceedings of the enterprise. In January-June of this year, the company reduced the production of general rolled products, according to operational data, by 1.4% compared to the same period last year – to 1.3 million tonnes. Steel production was kept at the level of the six months of last year – 1.31 million tonnes, pig iron increased by 3.3% – to 1.25 million tonnes, but sinter production decreased by 1.2% – to 2.1 million tonnes.
Last year, DMK increased its production of general rolled products by 13.3% to 2.54 million tonnes, steel – by 15.2% to 2.56 million tonnes, pig iron – by 19.2% to 2.36 million tonnes, agglomerate – 40.2%, up to 4.06 million tonnes.
The company is controlled by the ISD corporation which was founded in 1995. It is an integrated holding company that owns or manages stakes in mining and metals enterprises. The corporation also includes the Alchevsk Iron and Steel Works, over which control has been lost since the end of 2017, as well as the ISD-Dunaferr Iron and Steel Works (Hungary). ISD-Huta Czestochowa (Poland) was sold by the Polish authorities to Liberty Steel as part of the bankruptcy process, and ISD lost control over the enterprise.

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USING CROWN AGENTS ALLOWS UKRAINE TO SAVE $62 MLN IN FIVE YEARS – STUDY

Using the services of the British purchasing agency Crown Agents allowed the Ministry of Health of Ukraine to save more than $62 million, or 40% of the budget funds, in five years.
This is stated in a study conducted by Crown Agents and the Center for the Study of Corruption at the University of Sussex.
According to the study, in the first year of Crown Agents’ cooperation with the Ministry of Health, more than 75% of medicines were purchased at a lower cost than in the previous year.
“The overall amount lost to corrupt practices in healthcare is estimated to be around $500 billion annually, and procurement is the biggest risk area,” Liz David-Barrett, the director of the Center for the Study of Corruption at the University of Sussex, said.
“COVID-19 has provided a window of opportunity to tackle corrupt procurement practices in healthcare systems across the world,” she said.

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RETAIL TURNOVER IN UKRAINE BY REGIONS IN JAN-APR 2021 (UAH MLN)

RETAIL TURNOVER IN UKRAINE BY REGIONS IN JAN-APR 2021 (UAH MLN)

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