Business news from Ukraine

Business news from Ukraine

ALEF CORPORATION LAUNCHES THERMOPLASTIC GRANULE PLANT

The plant for the production of thermoplastic granules (TPE-granules) and compounds, a new member of the Alef corporation of businessman Vadym Ermolaev, has been put into operation in Dnipro, according to the corporation’s Facebook page.
“The new Allcomp plant is a leading manufacturer of thermoplastic granules used in various fields of activity: construction, medicine, pharmaceuticals, automobiles,” the corporation said.
According to the corporation, the Allcomp plant is the first company using innovative equipment from German and Turkish manufacturers, which has no analogues in Ukraine. The quality of raw materials and finished products is controlled in the company’s own laboratory.
As reported, Alef Corporation unites 10 diversified businesses operating in the segment of development, production of medical devices, building materials and seamless pipes, and the agricultural sector.
The corporation’s businesses export their goods to more than 20 countries.

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COVID CERTIFICATE CAN BE IMPLEMENTED FROM JULY 1 AND WILL BE VALID FOR UP TO 180 DAYS

The COVID-19 certificate can be implemented from July 1 and will be valid for up to 180 days, Director General of the Center for Public Health Roman Rodyna has said.

“Now we are working out a resolution of the Cabinet of Ministers, which will determine the conditions for issuing a COVID-19 certificate. We hope that it will available from July 1,” he said on the YouTube channel on Friday.

Rodyna named three reasons for issuing such a certificate. In particular, it will be issued if a person has received a full course of vaccination. In this case, the document will be valid for 180 days.

In addition, a negative PCR test will be the basis for issuing a certificate. In this case, its validity period is 72 hours from the moment of taking the sample.

The certificate will also be issued if a person has been ill with COVID-19 and the relevant confirmed laboratory data have been entered into eHealth. In this case, the certificate will be valid for 180 days from the date of receipt of laboratory confirmation of the disease.

Rodyna said, the question of whether these certificates will allow entry to other countries will be decided by bilateral agreements between the countries.

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184 UKRAINIAN CITIZENS STRANDED IN GREECE, BUT FLY FROM THESSALONIKI TO HOME

A total of 184 Ukrainian citizens, including 41 children, flew from Thessaloniki to Kyiv, Ukrainian Foreign Minister Dmytro Kuleba said.
“As promised, we are returning the Ukrainians who are stuck in Greece,” Kuleba wrote on his Twitter account.
The foreign minister said that two more flights will take place soon.
“Good work of our diplomats in Greece with tour operators, Greek authorities and others involved,” Kuleba wrote.
The Greek travel company Mouzenidis Travel, headquartered in Thessaloniki, has suspended services for foreign tourists, including those from Ukraine.
In this regard, the resources of the diplomatic service were mobilized to provide assistance to Ukrainian tourists in Greece. It was reported that on June 25-26, flights should take place on the routes Thessaloniki-Kyiv, Thessaloniki-Lviv and Heraklion-Kyiv, which will be able to return to Ukraine over 500 citizens.

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CHAIRMAN OF UKRAINIAN PARLIAMENT: THERE IS NO POINT IN HOLDING EARLY PRESIDENTIAL ELECTIONS

Chairman of the Verkhovna Rada Dmytro Razumkov denies rumors about possible early presidential elections in Ukraine. “I also see this [information about early presidential elections] in the media, telegram channels. I don’t quite understand who is doing this and why […] You know, any information campaign has to be for something. I am sure that the president will not leave his position, because a lot has not yet been done, only half of the term has passed. He has enough time to work further. Why he should leave his post is a mystery to me. There is no logic in it,” Razumkov said at a press conference on Friday in Kyiv.

He said that it makes no sense for President Volodymyr Zelensky to leave politics today.

“The President will not leave his post today and will not start doing any other things,” the speaker said.

UKRAINE’S STATE DEBT GROWS IN U.S. DOLLARS BUT DECREASES IN HRYVNIAS

The total public debt of Ukraine in May 2021 grew by 0.21% in U.S. dollars, to $91.52 billion and decreased by 0.69% in hryvnias, to UAH 2.516 trillion, according to data on the website of the Ministry of Finance, published in Friday.

According to the Ministry of Finance, direct public debt in May this year in U.S. dollars increased 0.16%, to $81.5 billion, in hryvnias it decreased 0.75%, to UAH 2.241 trillion.

External direct debt in the past month in U.S. dollars grew by 0.16%, to $45.19 billion, and in hryvnias it decreased 0.74%, to UAH 1.242 trillion.

The state-guaranteed debt in May in U.S. dollars increased by 0.7%, to $10.02 billion, in hryvnias it decreased 0.26%, to UAH 275.54 billion, according to the ministry’s data.

According to them, since the beginning of 2021, the total national debt of Ukraine has grown by 1.4% in U.S. dollars and by 17.51% in hryvnias.

According to the Ministry of Finance, the share of liabilities in U.S. dollars of the overall government debt in May increased to 36.21%, in hryvnias it also grew to 36.21%, in SDR it rose to 13.59%, but the share of liabilities in euros decreased to 13. 39%, and in yen to 0.59%.

The official U.S. dollar rate, at which the Ministry of Finance calculates the debt, strengthened to UAH 27.50/$1 in May compared to UAH 27.75/$1 in April, and UAH 27.88/$1 in March.

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VOLUME OF E-COMMERCE EXPORT IN UKRAINE REACHES $450 MLN

The volume of Ukrainian e-commerce exports in 2020 increased by 30% and amounted to $450 million, while the majority of Ukrainian e-commerce platforms are designed exclusively for the local consumer, according to a study of the Ukrainian e-commerce market conducted by Soul Partners, Baker Tilly Ukraine and Aequo at supported by USAID.

“Prospects for the development of the export potential of e-commerce remain at a relatively low level. According to the results of the survey, over 85% of respondents declared the absence of export operations using e-commerce, while the majority of the interviewed entrepreneurs are extremely interested in the development of e-exports,” Partner and Advisory Practice Leader at Baker Tilly Ukraine Andriy Kaliushenko said.

According to the study, Ukrainian electronic exports are mainly represented through international platforms such as Amazon, Ebay and Etsy, while most Ukrainian platforms do not provide the possibility of export operations or international delivery.

The largest importer of Ukrainian goods at the end of the year was the United States, which share was 33% of the total Ukrainian e-commerce export. In second place is Russia (16%), followed by the U.K., Germany and Canada (4-7%). At the same time, a third of export operations in Ukraine falls on Kyiv, 10% on Kharkiv, and 8% on Dnipro. Products from the categories of food products, clothing and medicines dominated in the structure of export sales.

By the end of 2020, Ukrposhta became the largest logistics operator of international parcels (65% of the total number of parcels).

According to the authors of the study, the main obstacle to the development of e-commerce export is the non-recognition of Ukrainian certificates of conformity in the EU.

“The implementation of the Association Agreement by Ukraine and the mutual recognition of electronic signatures with the EU countries would have contributed to the integration of markets,” Partner and of Head of M&A at Aequo Hanna Babych said.

In addition, the entry of global e-commerce players into the Ukrainian market and the expansion of PayPal’s functionality could increase the potential of e-export, according to the study.