State-owned Ukreximbank has successfully sold a pool of land plots for construction in Kyiv region through the OpenMarket electronic trading system (SE SETAM of the Ministry of Justice of Ukraine). The total sale amounted to UAH 28,289,000. These land plots were acquired by the Bank as a result of work with non-performing loans (NPL) and sold at a price higher than the cost of acquiring them, which confirms the effectiveness of the Bank’s actions. In 2023, Ukreximbank’s proactive position and continuous work of the NPL division, despite all the existing obstacles, gave the bank a record result of UAH 2.7 billion in NPL repayments. In total, over the past 10 years, repayment of NPLs amounted to UAH 10.1 billion, 50% of which was received over the past 3 years.
“Our bank demonstrates good results of working with NPLs in 2024. With the sale of this land plot, the total portfolio of the Bank’s repossessed property sold in 1H2024 amounts to UAH 190 million, which confirms the success of the previous year,” said Anatoliy Lola, Director of Restructuring and Recovery Department of Ukreximbank.
The land plots with a total area of 12,755 hectares are located in Bucha district of Kyiv region (Kyiv-Svyatoshyn district). Their intended purpose is for construction and maintenance of a residential building, outbuildings and structures (personal plot). The land plots are located in an open field with a flat terrain, 4 km from the center of Bilohorodka village.
“Our portfolio includes many attractive properties, such as these plots, which will be used for housing construction,” said Pavel Gashkovets, Ukreximbank’s Management Board Member in charge of organizing work with distressed assets. “The bank regularly holds electronic auctions for the sale of property that was collateral for non-performing loans on the principles of transparency and openness. All information about the sale of such property can be found on the bank’s website in the “Currentauctions” section, and the entire list of property available for sale is given in the “Sale of own property” section.”
The village of Bilohorodka is located on the right bank of the Irpin River, 22 km from Kyiv and 8 km from the Tarasivka passenger railway station.
“The land plots have a favorable location and convenient transport links, which provides an excellent opportunity for residential development. We congratulate the bank and the buyer on the successful transaction,” said Oleksandr Mamro, CEO of SE SETAM.
TheOpenMarket auction (SE SETAM of the Ministry of Justice of Ukraine) is a simple and effective means of selling and purchasing property via the Internet. The online auction has been operating throughout Ukraine since 2014, and the total amount of sales since its launch is UAH 22.2 billion.
According to the Union of Poultry Breeders of Ukraine, in January-June 2024, Ukraine increased egg exports to 36.98 thousand tons. Including eggs in the shell, national producers exported 32.98 thousand tons for 33.711 million dollars.
At the same time, egg exports in the first half of 2023 amounted to 29.7 thousand tons. In particular, 25.737 thousand tons of shell eggs were exported for 34.745 million dollars.
The largest importers of Ukrainian eggs are EU countries, in particular Italy and Poland, as well as Singapore, the UAE and Israel.
Ukrzaliznytsia (UZ) will receive almost EUR43 million under the European Union’s Connecting Europe Facility (CEF) program.
According to the company’s press service on Tuesday, the program’s coordinating committee approved the company’s project application on July 16.
“Ukraine continues its European integration path and has systematic support from the EU. Thus, for the second year in a row, the CEF has been allocating funds for the implementation of strategic infrastructure projects aimed at developing the European gauge in Ukraine, so that we can open new passenger routes and increase the country’s transit potential,” the statement quoted Yevhen Lyashchenko, Chairman of the Board of UZ, as saying.
It is noted that the EUR42.95 million provided under the CEF mechanism will be used to implement a project to improve the railway network and build a 1435 mm gauge to ensure technological compatibility and increase the capacity of the railway infrastructure.
The total project budget is EUR85.91 million.
A feature of the CEF program is co-financing for project implementation in the amount of 50%. The Ukrainian side must provide a similar amount.
UZ clarified that within the framework of the project to improve the railway network and develop a 1435 mm gauge, it is planned to design the reconstruction of railway facilities with the introduction of a 1435 mm gauge on the Chop-Lviv section, as well as design the reconstruction of railway facilities with the construction of a 1435 mm gauge and electrification on the Lviv-Chernivtsi-Vadul-Siret-state border section.
It is also planned to develop a strategy for the reconstruction of the Lviv railway junction, taking into account the prospects for expanding the 1435 mm gauge railway network of the Trans-European Transport Network (TEN-T) in Ukraine; design and construction of a 1435 mm gauge with electrification on the Pavlovo-2/Mativtse-Uzhhorod section and electrification of the 1435 mm gauge on the Chop-Uzhhorod section.
The costs of the TSI compliance examination of the above projects, as well as the Kovel-Yahodyn – state border and Medyka/Mostiska II – Lviv (Sknyliv) sections are provided for, UZ said.
The CEF (Connecting Europe Facility) is a European Union fund established in 2014 to invest in transport, energy, digital and telecommunications projects. It is the main instrument for financing the development of TEN-T.
Earlier it was reported that Ukraine would receive a grant of EUR 53 million for the implementation of four projects under the CEF program.
Quotes of interbank currency market of Ukraine (UAH for €1, in 01.04.2024-30.04.2024)
Source: Open4Business.com.ua and experts.news
Ukrainian Foreign Minister Dmytro Kuleba is making the first visit by a Ukrainian official to China since the beginning of Russia’s full-scale aggression against Ukraine.
“Hello to all from China. Following up on the contacts between the leaders of Ukraine Volodymyr Zelensky and China’s Xi Jinping, I am carrying out the first visit of a Ukrainian official to China since the beginning of Russia’s full-scale aggression against Ukraine. This is also the first bilateral visit of the Ukrainian foreign minister to China since 2012,” he said on his Instagram.
He informed that ahead – detailed, substantive talks with his Chinese counterpart Wang Yi on ways to a just peace.
“Must avoid competition of peace plans. It is very important that Kiev and Beijing have a direct dialog and exchange of positions. We will also discuss bilateral relations. I am convinced: after Ukraine started negotiations on accession to the European Union, China should look at relations with our state through the prism of its strategic relations with Europe,” – said Kuleba.
As reported, July 23-25, Kuleba will pay a visit to China at the invitation of Chinese Foreign Minister Wang Yi.
The European Business Association (EBA), the American Chamber of Commerce in Ukraine (AmCham) and the Association of Tobacco Manufacturers “Ukrtobacco” have appealed to the Verkhovna Rada to support in the second reading the draft law No. 11090 on increasing the excise tax on tobacco products as proposed by the Cabinet of Ministers.
“It is necessary to provide for the EU’s approach to determining a single euro to hryvnia exchange rate throughout the year (as of October 1 of the previous year for the entire next year) in order to ensure business planning for enterprises that are the largest taxpayers in Ukraine, which, according to the official opinion to the draft law and relevant letters, is insisted on by both the Rada Committee on Ukraine’s Integration into the EU and the Government Office for Coordination of European and Euro-Atlantic Integration of the Cabinet of Ministers,” the second version of the draft law reads on the EBA website.
The associations are confident that the initiatives of some Ukrainian MPs to introduce conceptual changes to the decision already adopted in the first reading to change the excise tax rates on tobacco products pose significant risks to the State Budget of Ukraine. These proposals could provoke a galloping growth of the illegal cigarette market, which has been reduced with extraordinary efforts for several months, taking into account the recommendations of the G7 countries and the leadership of the Chairman of the Parliamentary Financial Committee Danylo Hetmantsev.
The most critical and risky initiatives, according to the member companies, are the proposals to establish an ad valorem excise tax on tobacco products at 25% and to compare the tax rate for cigarettes and electrically heated tobacco products (EHT).
It is emphasized that such an initiative does not comply with the European approach and the practice of EU member states.
“Please take into account the position of the united business community when making the final decision on the revision of excise tax rates on tobacco products as part of the further consideration and adoption of Draft Law 11090,” the association summarized.
Earlier, the Union of Ukrainian Entrepreneurs (UUE) and the U.S.-Ukraine Business Council (USUBC) called for the adoption of the draft law on tobacco excise taxes in the version of the Cabinet of Ministers.
As reported, on June 4, the Verkhovna Rada supported in the first reading and adopted as a basis the draft law No. 11090 on increasing the excise tax on tobacco products.
The draft law provides for the conversion of excise tax rates on tobacco products from hryvnia to euros, reaching the EU minimum excise tax level on cigarettes (EUR90 per 1000 cigarettes) through a gradual increase in specific excise tax rates by 2028, returning to the differentiation of excise tax on HTPs and cigarettes, and introducing a special mechanism for calculating excise tax on tobacco products based on the exchange rate.
According to the estimates of the Ministry of Finance described in the draft Budget Declaration, this will increase state budget revenues by UAH 0.6 billion in 2025, by UAH 5 billion in 2026, by UAH 9.4 billion in 2027 and by UAH 13.9 billion in 2028.
