Business news from Ukraine

SERGIY TIGIPKO PLANS TO INCREASE PHARMACY CHAIN TO 153 DRUGSTORES

TAS pharmacy chain (TAS Pharma LLC), part of TAS Group, intends to acquire another 60 pharmacies in the near future, increasing their number to 153 by February 2019. According to a press release from the network, TAS has begun a deal to acquire a pharmaceutical network of 26 pharmacies. In addition, negotiations are underway on the acquisition of another 34 pharmacies owned by two participants in the domestic pharmaceutical market.
“The acquisition of 60 pharmacies will allow us to increase our company’s share in the pharmaceutical market of Ukraine, improve its efficiency and strengthen our position in the top 20 pharmacy chains of the country,” the press service said citing director general of the chain Valeriy Hudzenko.
TAS Group was founded in 1998. It has assets in financial and industrial sectors, agriculture, real estate, pharmaceuticals, and venture projects. The financial sector of the group includes TAScombank, Universal Bank, VS Bank, two insurance companies and a number of other organizations. The founder and main shareholder of the group is Sergiy Tigipko.

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FRANCE’S CMA WILL TAKE PART IN RECONSTRUCTING BERTHS AT ODESA PORT

The Ukrainian Sea Ports Authority, Odesa Maritime Merchant Port and Brooklyn-Kyiv Port LLC with the participation of the French company CMA CGM, the world’s third largest container carrier, have signed a memorandum of understanding in France, the Ministry of Infrastructure has reported.
“The development of cooperation between the Ukrainian Sea Ports Authority, Brooklyn-Kyiv Port and CMA CGM is another example of effective public-private partnership. As part of this project, berths Nos. 13-z, 14-s will be reconstructed in Odesa,” Head of the Ukrainian Sea Ports Authority Raivis Veckagans said.
According to him, this will allow avoiding vessel idleness and significantly increasing the volume of cargo handling.
“The signed memorandum gives hope that in the near future a large-scale infrastructure project will be implemented in Odesa seaport, which will attract investment in infrastructure development, increasing cargo traffic and the number of ship calls at the port,” Minister of Infrastructure Volodymyr Omelyan said.
CMA CGM Group is a shipping company headquartered in Marseille. According to the Ministry of Infrastructure, it is the largest sea container carrier in France with the total deadweight of 2.208 million TEUs, operating with a fleet of 445 vessels and servicing more than 420 ports in the world.

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NEW SEWING FACTORY IS OPENED IN UKRAINE

Yaroslav company (Kyiv), specializing in production of textiles and bedding, has opened Krolevets sewing factory (Sumy region), which specializes in sewing women’s shirts, pajamas, and workwear.
According to a report by Krolevets City Council on its Facebook page, the factory already employs about 100 people, but in 2019, with the opening of another shop, it is planned to increase the number of employees to 300 people.
At present, in particular, the factory is fulfilling an order for sewing jackets for the workers of Nova Poshta.
“It’s nice that in such a difficult time, despite the legal regime of martial law in the territory of Sumy region, new enterprises are opened,” Head of Sumy Regional State Administration Mykola Klochko, who was present at the opening of the factory, said.
The director and owner of Yaroslav company, Oleksandr Barsuk, previously reported that the company annually invests about $1 million of credit funds in equipment and modernization of production facilities.
The main specialization of the company is production of bed linen, blankets, mattresses, goods for children, kitchen textiles.
In 2017, the revenue of Yaroslav was UAH 354 million (in the first quarter of 2018 almost UAH 91 million).

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VERKHOVNA RADA’S CHAIRMAN TO VISIT SOUTH KOREA TO DISCUSS VISA-FREE REGIME

The Verkhovna Rada’s chairman Andriy Parubiy will be on a visit to South Korea from December 10 to discuss, in particular, a visa-free regime between the two countries.
“We are on the brink of crucial decisions,” Parubiy said in an interview with Rada TV channel, adding that there are plans “to reach the finish in discussing the decision to discontinue the visa regime between Ukraine and South Korea.”
“Today South Korea is one of the most dynamically developing economies in the world. It is one of the top twenty most effective world economies. It is important that Ukraine could have a visa-free regime with South Korea as well,” the politician said.
The Ukrainian parliament’s speaker said the parties are planning to sign an agreement between the Verkhovna Rada and the parliament of South Korea that will help promote closer cooperation between the parliaments of both countries. Also, he voiced the hope for receiving support and assistance in upgrading the Rada system, which is used by the Ukrainian parliament for voting purposes.
Parubiy said his trip will be very important for the inter-parliamentary diplomacy and for cooperation with that region.

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PRESIDENT OF UKRAINE SIGNS LAW ON STATE BUDGET FOR 2019

President of Ukraine Petro Poroshenko said that he had signed the law on the state budget of Ukraine for 2019.
“I have signed a budget law,” the president said, speaking at the 2nd Ukrainian Women’s Congress in Kyiv on Friday.

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