Business news from Ukraine

Business news from Ukraine

OPEN4BUSINESS HELPS FOREIGN BUSINESSES TO SEARCH FOR OPPORTUNITIES AND EXPAND TO UKRAINIAN MARKET

Open4Business is a platform created to help foreign businesses to search for opportunities and expand to Ukrainian market.
The platform and related organizations provide a holistic set of services needed to successfully penetrate the Ukrainian starting from establishing foreign trade relations with local companies and up to establishing a subsidiary or acquiring a company in Ukraine.

You are welcome to contact:
info@open4business.com.ua
tel./fax: +38(067)970-52-59

The List of Main Services:
– Market information and market intelligence
– Searching trade partners and organizing fact finding trips
– Governmental relations
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– Production outsourcing project management
– Legal advisory services including licencing and certification, etc. (together with associated companies).

DECLARATION ON TOURISM COOPERATION WITH TURKEY TO INCREASE NUMBER OF FLIGHTS BETWEEN UKRAINE AND TURKEY

Thanks to the signing of the Joint Declaration of Intent on cooperation in respecting the rights and safety of tourists between Ukraine and Turkey, the parties will be able to simplify the border crossing rules for citizens of both states, as well as increase the number of flights between the countries, Prime Minister of Ukraine Denys Shmyhal said on Sunday.

“This declaration, in particular, makes it possible to simplify border crossing rules for citizens of both states, exchange vaccination systems, increase the number of flights between countries, expand the availability of tourist audio guides in Ukrainian and Turkish, and develop cooperation to attract investment in tourism and resorts,” the Prime Minister said on Facebook.

He recalled that the document was signed by Minister of Culture and Information Policy Oleksandr Tkachenko during a meeting with Minister of Culture and Tourism of Turkey Mehmet Nuri Ersoy.

As reported, on April 27, Ukraine and Turkey signed a memorandum on strengthening cooperation in the tourism sector.

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ASTARTA STARTS SPRING PLANTING SEASON-2021

ASTARTA’s farming units started the new spring planting season.
The Company’s main crops are sugar beet (33.5kha), corn (59.9kha), soybeans (31.2kha), wheat (46.5kha), sunflower (28.1kha) and winter rapeseeds (7.2kha).
ASTARTA is also growing a mix of organic crops on 1.8kha.
ASTARTA is fully prepared for the new planting season 2021 and has a full stock of seeds, crop protection means, fertilizers. The Company uses both imported and domestic inputs. The key selection criteria are quality and support for local producers. Wheat and soybeans’ seeds are produced in-house under the brand ASTARTA Select.
The new John Deere tractors, purchased in 2020-2021 within the five-year investment programme aimed at upgrading its agricultural machinery, are already involved in the current planting.
The staff has been trained. All operations are performed with strict quarantine regulations and requirements.
Despite the later start of the planting due to colder weather conditions, all production operations will be performed within the required timeline.

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ARTYOMSOL SEES NET PROFIT RISE 5-FOLD IN Q1

The state-owned enterprise Artyomsol (Donetsk region) in January-March 2021 increased its net profit 5-fold compared to January-March 2020, to UAH 10.1 million, the enterprise has said on its website on Tuesday.
The net income of the enterprise for the first quarter of 2021 increased almost 1.5-fold compared to the same period in 2020, to UAH 437.5 million.
The growth of financial and economic indicators is explained by the increase in production volumes: in the first quarter, production increased 2.5-fold, to 503,300 tonnes.
The plans for 2021 are to invest UAH 250 million in replacing outdated filling equipment, and to update the range of products.
Artyomsol is one of the largest enterprises for the extraction and sale of sodium chloride (NaCl) in Central and Eastern Europe. The production facilities of Artyomsol are located in Soledar, Donetsk region.

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TRANSPORT ENTERPRISES OF UKRAINE REDUCE PASSENGER TRAFFIC BY 30% IN Q1

Ukrainian transport companies carried 624 million passengers in January-March 2021, which is 30.5% less than in the first quarter of 2020, the State Statistics Service reported.
The passenger turnover of transport enterprises in the specified period amounted to 12.3 billion passenger-kilometers, which is 35.3% less than in January-March last year.
According to the State Statistics Service, 17 million passengers used railway transport in the first quarter of 2021 (including city commuter trains), which is 39.3% less than in the same period in 2020, and 258.7 million passengers used road transport (less by 32.6%).
Air transport reduced passenger traffic by 44.2%, to 1.1 million people.
In addition, according to the State Statistics Service, in the first quarter of 2021, some 92.4 million passengers used trams (less by 32.6% versus January-March 2020), metro carried 112.8 million people (less by 19%), trolleybuses some 142 million people (less by 31.5%).

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NET PROFIT OF STATE-OWNED UKRGASBANK DOWN BY 66%

The net profit of the state-owned Ukrgasbank (Kyiv) in 2020 amounted to UAH 411 million, which is 66.7% less than in the same period in 2019 (UAH 1.289 billion).
According to the statements posted on the bank’s website, its net loss for the fourth quarter of 2020 amounted to UAH 274 million, while the net profit for the same period in 2019 amounted to UAH 942 million.
Net interest income of Ukrgasbank after spending on loan expenses for the year decreased by 20% year-over-year (to UAH 1.69 billion), while net commission income grew by 16.1% (to UAH 1.2 billion).
The bank’s assets in 2020 increased by 18.1%, to UAH 142.7 billion, including loans to clients and financial leases – by 21.9% (to UAH 47.5 billion), and investments that are estimated at fair value increased by 1.8 times, to UAH 56 billion.
The bank’s liabilities for the corresponding period increased by 1.2 times, to UAH 134.2 billion, including customer accounts – by 1.2 times, to UAH 126.5 billion.
The bank’s equity capital increased by 3.6% over the year, to UAH 8.55 billion, the charter capital remained at the level of UAH 13.84 billion.
Ukrgasbank was established in 1993. The state represented by the Ministry of Finance owns 94.94% of the shares of the financial institution.
According to the National Bank of Ukraine (NBU), as of March 1, 2021, Ukrgasbank in terms of total assets (UAH 149.524 billion) ranked fourth among 73 banks operating in the country.

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