Business news from Ukraine

LVIV REGION EXPECTING 20% INCREASE IN TOURIST FLOW

The number of tourists visited Lviv region in 2018 would increase by 20% compared with 2017, the press service of the tourism and resorts department of the Lviv Regional Administration has reported. “Lviv region is expecting over 3 million guests this year. Over 70% would be Ukrainians and the rest – foreigners: Poles, Germans, French, Belarusians, Chinese, Turks and Spaniards. It is projected that the tourist flow would increase by 20%. Most of tourists would arrive in summer – around 35%,” the department said in response to the inquiry of Interfax-Ukraine.
The department said that the increase in tourist flow in summer is linked to hosting Tu Stan, Skhidnytske Lito, Zaxid Fest, Radostno Fest, Leopolis Jazz Fest, LvivMozArt and other festivals. According to a poll conducted by the tourism and resorts department, average annual occupancy of hotels in Lviv region is around 70%.
According to the information of the department, the tourist fee in the summer period of 2018 is expected at the level of UAH 3.4 million, which is 26% more than in the same period of 2017. The tourist fee for the whole of 2017 was UAH 10.7 million, which is 22% more than a year earlier.
Popular tourist destinations in Lviv region are: the Carpathians (Skole and Turka districts, the Skolivski Beskydy national park), health resorts (Truskavets, Morshin, Skhidnytsia), as well as castles of Lviv region. The average length of stay of tourists in the region is 12-14 days in resorts with mineral waters, three days in mountain areas and one day in small tourist cities (Zhovkva, Drohobych, Belz and Sambir).
According to the department’s estimates, the average budget per holidaymaker for a weekend in the region is UAH 2,500 (including accommodation, meals, transportation and souvenirs).

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BILL ON EXIT CAPITAL TAX REGISTERED IN PARLIAMENT

Ukrainian President Petro Poroshenko has submitted a bill on exit capital tax to the Verkhovna Rada. According to a posting on the official website of the parliament, bill No. 8557 amending the Tax Code of Ukraine regarding exit capital tax was registered in the Rada on July 5.
As reported, Poroshenko at a meeting with representatives of business in Kyiv on July 4 said that Poroshenko has signed and intends to register a bill on exit capital tax in the Verkhovna Rada in the near future. He said that the bill, if adopted, will take effect only jointly with compensators for revenue of the national budget.
“I declare that this bill does not and will not enter into any contradictions with the International Monetary Fund, since this bill will come into effect only when appropriate compensators are provided for the budget,” the president said.
Poroshenko also said that the rapporteur on the bill in the Verkhovna Rada would be his representative in parliament, Bloc of Petro Poroshenko MP Iryna Lutsenko.

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TURBOATOM AND JAPANESE TOSHIBA SIGN MEMORANDUM ON TURBINES MODERNIZATION

Kharkiv-based JSC Turboatom and Japanese Toshiba Energy Systems & Solutions Corporation have signed a memorandum of understanding in the field of nuclear energy, the press service of SE NNEGC Energoatom has said. The companies agreed on the beginning of cooperation aimed to implement projects of turbine equipment modernization of machine halls at nuclear power plants (NPPs), it said.
“The cooperation between Turboatom and Toshiba will be based on high potential and great experience of both companies in studying and realizing new engineering and technical solutions in the field of nuclear energy,” the press service said in a statement.
According to Turboatom’s CEO Viktor Subotin, his company together with Toshiba will soon determine priority projects and will be able to agree on a plan of joint actions at the 10th International Economic Forum in Kharkiv in September. “Our company implements large-scale programs for improving safety, reliability and performance of the power units at Ukrainian NPPs. I am confident that the cooperation of our partners, Turboatom and Toshiba, will contribute to the development of energy engineering in Ukraine and consequently boost the efficiency of modernization of the Ukrainian NPPs’ equipment,” Energoatom President Yuriy Nedashkovsky said.
“The signed memorandum is a step that gives the possibility to contribute to the uprate of energy equipment for Ukrainian NPPs as well as for nuclear energy facilities in other countries. I am really happy that Toshiba will contribute to making more complete decisions in the field of nuclear energy together with Turboatom due to the fact that our companies are leaders in NPP equipment manufacturing,” Vice President of Toshiba Energy Systems & Solutions Corporation Goro Yanase said.
As reported, a memorandum of understanding in the nuclear power industry was signed between Energoatom and Toshiba Energy Systems & Solutions Corporation in October 2017 to develop cooperation on the modernization of turbines and generators at Ukraine’s nuclear power plants.
Turboatom is the only manufacturer of turbine equipment for hydro, thermal and nuclear power plants in Ukraine. It exports commodities to 45 countries and regions in Europe, Asia, America and Africa.

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VOLUME OF INDUSTRIAL PRODUCTS SOLD IN UKRAINE 18% UP IN JAN-MAY

The volume of sold industrial products (goods, services) in January-May 2018 stood at UAH 1.015 trillion, which is 18.1% more than in January-May 2017, in particular the volume sold abroad was worth UAH 284.354 billion, the State Statistics Service has reported.
According to the agency, in May 2018 compared to May 2017 the index of turnover of sold production grew by 20.8%, and by 6.1% compared with April 2018. Sales in extractive industry in May 2018 compared with May 2017 grew by 18.2% (0.2% compared with April 2018) and in processing industry – by 21.4% (7.3%).
In the total volume of sales, the largest share accounted for processing industry (63.4%), the supply of electricity, gas, steam and air conditioning (21.3%), metallurgical production (18.9%), production of cast iron, steel and ferroalloys (14.5%), mining and quarrying (14.3%) and
As reported, in 2017 industrial products (goods, services) worth UAH 2.153 trillion were sold, which is 21.9% more than in 2016.