Business news from Ukraine

Business news from Ukraine

Hryvnia deposits increased by 2.3% in February – National Bank

The 2.9% decline in hryvnia deposits in January after a 4.6% increase in December was seasonal and not related to the discussion of the draft law on mobilization, as evidenced by the 2.3% increase in hryvnia deposits in February, National Bank of Ukraine Governor Andriy Pyshny said.

“From year to year, customer account receipts increase at the end of the year and decrease at the beginning. This is a logical trend that was also present in peacetime. Businesses and the government try to complete all payments, including salaries, by the end of the year, and at the beginning of the next year, people spend or invest these funds,” Pyshnyi explained the seasonality effect.

According to him, the National Bank did not see any noticeable impact on the dynamics of deposits from the draft law on mobilization and “fake news” about the alleged introduction of taxation on all card transactions, which was refuted by the Ministry of Finance.

“Moreover, in the first weeks of its (the draft law on mobilization) discussion, the balances continued to increase. In addition, the relevant parliamentary committee has clearly stated that it will not support the provision on blocking accounts. This is possible, as it is now, only in court,” he emphasized.

Pyshnyi also clarified that the central bank did not make “any breakthrough innovations” regarding the disclosure of banking secrecy in February.

“We only clarified the terminology in accordance with the changes in the legislation on access to information, which the authorized state bodies had had before these changes in accordance with the established procedure. The NBU will continue to support initiatives aimed at combating the shadow sector, while strictly upholding the protection of the confidentiality of banking operations in accordance with international standards. we have only clarified the terminology,” the NBU governor said.

The NBU on its Facebook page followed the governor and reminded that in 2023, the amount of hryvnia funds held by households in banks increased by UAH 121 billion, or 20.5%, and reached a historic high of UAH 711 billion, and as of early March, households kept about UAH 707 billion in hryvnia accounts in banks.

“These indicators demonstrate confidence in banks and the national currency, and the share of time deposits of individuals in hryvnia increased by 4.2 percentage points over the year. Despite the widespread war, the level of dollarization of household deposits decreased by more than 2 percentage points to about 34%,” the regulator said.

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Zelenskyy approves candidacy of Valeriy Zaluzhnyy for post of Ukraine’s ambassador to UK

President of Ukraine Volodymyr Zelenskyy has approved the candidacy of Valeriy Zaluzhnyi for the post of Ambassador of Ukraine to the United Kingdom, the Ministry of Foreign Affairs of Ukraine reports.

“On Thursday, March 7, 2024, the President of Ukraine approved the candidacy of Valeriy Zaluzhny for the post of Ambassador Extraordinary and Plenipotentiary of Ukraine to the United Kingdom of Great Britain and Northern Ireland,” the Foreign Ministry said on its official website.

Reportedly, the Ministry of Foreign Affairs of Ukraine has sent the British side a request for the appointment.

As reported, on February 8, President of Ukraine Volodymyr Zelenskyy signed decrees dismissing Valeriy Zaluzhnyy from the post of Commander-in-Chief of the Armed Forces of Ukraine and appointing Oleksandr Syrskyy to this position.

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44% of Ukrainian children have signs of post-traumatic stress disorder (PTSD)

Signs of post-traumatic stress disorder (PTSD) are present in 44% of Ukrainian children.

Such data of the study of children’s well-being in Ukraine “Index of the Future” conducted by the Kyiv School of Economics on the initiative of the Olena Zelenska Foundation and with the support of the United Nations Children’s Fund (UNICEF) in Ukraine are quoted by the Health Ministry on its website.

In addition, according to the study, the share of children vaccinated against diphtheria, tetanus and pertussis has decreased by 16% since the beginning of the full-scale invasion, the share of children vaccinated against polio has decreased by 22%.

According to the study, the current vaccination rate against diphtheria, tetanus and pertussis in Ukraine in 2023 is 37% lower than in EU countries.

In addition, according to the study, 13% of children aged 14-17 systematically (at least once a week) drink alcohol and 16% smoke cigarettes. Moreover, boys resort to such risky behavior more often than girls. In addition, 56% of children have consumed alcohol at least once, 53% have tried smoking, and 3% have used drugs.

According to the survey, 71% of respondents consider themselves happy. At the same time, this assessment was more often given by children from the East of Ukraine and Kyiv most often said.

At the same time, 44% of children in Ukraine have signs of post-traumatic stress disorder (PTSD).

The study was based on data from five sources: government and open sources, quantitative studies of children, interviews with experts and graduates and alumni of institutional care.

The study included a representative online survey with 1,313 respondents aged 0-17 across Ukraine, excluding temporarily occupied territories.
Earlier, the Kiev-based think tank Experts Club announced the launch of a project on psychological recovery of people with the help of art therapy. Read more about the project here – https://open4business.com.ua/ru/stolichnyj-uchebnyj-czentr-experts-club-vmeste-s-art-gallery-universe-otkryl-programmu-art-terapii-dlya-postradavshih-ot-ptsr/

Investment potential of Bukovyna will be demonstrated in Chernivtsi at FIT for Ukraine industry forum

On April 12, UkraineInvest, in partnership with the Chernivtsi Regional Military Administration, will hold the ninth in the series of FIT for Ukraine Forum: Fruit and Vegetable Processing in Chernivtsi. The event will present analytical materials on the state of the sector in the region, investment opportunities, and government incentives for investment projects. The event will be held offline, but everyone will be able to join the live broadcast.

Key topics include:
● attracting investment in fruit and vegetable processing
investment policy, analytics and prospects for the region’s development
● creation of a cluster of fruit and vegetable producers
● experience of investors working in Chernivtsi region.

The forum will also include an EXPO zone where companies will have the opportunity to present their products and services, which will become an effective tool for promoting goods and services to foreign markets and a platform for establishing mutually beneficial contacts between potential business partners.

Currently, about 200 companies with foreign capital from 28 countries operate in Chernivtsi region. Bukovyna ranks 1st in terms of fruit and berry production and yield in Ukraine. To support small producers and the industry as a whole, there is a need to establish fruit and berry harvesting and processing facilities in the agglomeration. This will make it possible to form large batches of products, process them and sell them, expanding the market, including to EU countries.

Program:
https://docs.google.com/document/d/1fnsHWARGP4c05aSdypo7Mux3QoTeznDzzWGGs8vARZA/edit?fbclid=IwAR1alkoHnuHknaLglR-zJPq6rQSek6oPISUx3j2g8Y8Av0pHA814aflzWd4

Registration for online viewing:
https://forms.gle/ggfKX4DSije5h2ueA

Media accreditation is required and runs until 18:00 on April 11. Contact person: Nazariy Volyansky, tel. +380630231193, e-mail: nazarii.volianskyi@ukraineinvest.gov.ua
For reference: UkraineInvest is a government office for attracting and supporting investment in Ukraine, which has been a state institution since 2018. The main priorities of the team are to attract and support investment in Ukraine. FIT for Ukraine is a series of sectoral analytical events for investors interested in rebuilding Ukraine. The platform promotes investment opportunities for Ukraine’s economic transformation.

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Univest has invested UAH 300 mln in construction of new workshop in Kyiv region

Univest, a manufacturer of paper and cardboard packaging for the food industry, has invested about UAH 300 million in the construction of a new eco-packaging workshop in the Fastindustri industrial park (Fastiv, Kyiv region), said Dmytro Kysylevskyi, deputy chairman of the parliamentary committee on economic development.

According to his post on Facebook, the equipment that has already been installed is planned to be put into operation in a few months.

Kysylevsky said that the equipment for industrial production in the industrial park was first imported to Ukraine with the use of import duty and VAT incentives.

“Ukrainian entrepreneur Volodymyr Kudryashov, owner and CEO of Univest, pioneered the use of government incentives. He had to work with customs to figure out how to do everything, because it was the first time both the company and the state did it,” he wrote.

As reported, the law provides for exemption from VAT and customs duties on imports of new equipment, as well as from income tax for 10 years if the company operates within the framework of the IP; preferential rates of real estate tax and land fees from local authorities.

Univest Holding, according to its website, is one of the leaders in publishing and printing in Ukraine. Its key business areas include a large offset printing house, Univest Print, a cardboard, plastic and blister packaging manufacturer, Univest Packaging, a cardboard eco-tableware manufacturer for fast food chains, Food-in-Box, and a publishing house (producing agricultural magazines and books), Univest Media.

The holding also includes a warehouse complex with an area of 20 thousand square meters, a creative and advertising agency.

According to the Clarity system, packaging manufacturer Univest Marketing LLC increased its net profit by 5.3 times in January-September 2023 compared to the same period in 2022, to UAH 77 million, with net income growing by 58% to UAH 548.9 million.

The company’s product range includes paper cups, lids, burger boxes, soup bowls, salad bowls, trays, French fries packaging, and ice cream and popcorn buckets.

According to YouControl, the company is owned by Cyprus-registered U.C.H. Univest Ciprus Holding, and the ultimate beneficiaries are Volodymyr Kudryashov (51%) and German citizens Hans and Louis Riffart (12.74% each).

The 15-hectare Fastindustri was included in the Register of Industrial Parks in January 2017. According to Kysylevsky, Univest is the main investor in the IP.

The park is planned to accommodate several more enterprises based on the circular economy principle, and the investment plans for the IP are calculated until 2027.

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OTP Bank transferred UAH 1 million to Superhumans Center in February

In February, JSC OTP BANK transferred UAH 1 million to the account of Superhumans Center, a non-profit project that provides prosthetics, complex reconstructive surgery, rehabilitation and psychological support to Ukrainians who have been injured in the war.

The transfer was made under the charitable donation agreement for 2023-2024 concluded between the Bank and Superhumans Center, which provides for monthly support to the center. The funds are allocated to two crucial areas: support for the heroes, returning them to social life, and the creation of an educational center to scale up assistance and training for prosthetics specialists.

The total amount transferred by OTP Bank to the Superhumans Center is currently over UAH 28.8 million.

As a reminder, in 2023, OTP Bank held two charity auctions, during which it raised UAH 8.8 million. All funds were allocated to the prosthetics and rehabilitation center.

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