Business news from Ukraine

UKRAINE PLANS TO EXPORT BEEF TO TURKEY

Ukraine has received the right to export beef to the Turkish market, according to the State Service of Ukraine for Food Safety and Consumer Protection.
This decision was made following the results of work of the technical mission of the directorate general for protection and control of the Ministry of Food, Agriculture and Livestock of Turkey on assessing state control over beef production, which operated in Ukraine in late April 2018.
Turkish inspectors audited the system of state control over production of beef in Ukraine and inspected slaughter enterprises that are interested in exporting their products to Turkey.
At the same time, the service notes that work on agreeing the form of a veterinary certificate for exports of Ukrainian beef to Turkey is currently at the final stages.

, ,

UKROLIYA ALLOWED TO EXPORT ORGANIC VEGETABLE OIL TO U.S. MARKET

Ukroliya (Poltava region) has certified organic products in accordance with the USDA Organic standard of the U.S. Department of Agriculture. According to a company press release, this certificate opens up the prospect of supplying organic vegetable oil to the United States market for the company. The USDA Organic/NOP certificate covers all aspects of production, processing, transportation and sale of organic products.
Earlier, the company certified its products according to the organic products standard of the European Union and the Swiss standard BioSuisse.
As reported, in November 2017 Ukroliya launched a plant for production of organic oil, Ukroliya Organic, in the village of Dykanka (Poltava region). Investments in it amounted to about UAH 50 million. The company plans to process 18,000 tonnes of sunflower, 50,000 tonnes of soybeans a year, produce 7,020 tonnes of organic sunflower oil, 6,750 tonnes of organic soybean oil, 7,100 tonnes of cake, and 3,000 tonnes of sunflower husk. Ukroliya was founded in 2001. It is engaged in production and sale of packed and bulk sunflower oil, sunflower meal, and husk. Its production facilities are located in the village of Dykanka and Zenkiv town (Poltava region).

, , ,

MIKE TYSON, EVANDER HOLYFIELD, LENNOX LEWIS AND OTHERS TO ATTEND UKRAINE, KYIV TO HOST WBC CONGRESS AT HIGHEST LEVEL

Kyiv State Administration head Vitali Klitschko has met with World Boxing Council (WBC) President Mauricio Sulaiman and assured him the WBC’s 56th Congress will be held in Kyiv at the highest level. “We expect 700 participants at the event, including stars of the world boxing, the presidents of federations from the WBC member countries, and we are preparing an interesting program with informal communication and charitable events,” Klitschko said, adding costs would be at the expense of contributions to the WBC.
According to Sulaiman, such famous boxers as Mike Tyson, Evander Holyfield, Lennox Lewis and others will come to Kyiv.
The 56th WBC Congress will be held in Kyiv from September 30 to October 6. Klitschko two years ago was inducted into the WBC’s hall of fame. Ukrainian WBC champions also include Viktor Postol and Oleksandr Usyk (current).

, , ,

UBC GROUP BUILDS FIRST STAGE OF REFRIGERATOR PLANT IN UKRAINE (VINNYTSIA)

UBC Group (Kharkiv), a commercial and industrial holding, working in the field of refrigeration and promotional products, has built the first stage of a refrigerator factory with an area of 20,000 square meters in Vinnytsia. “Vinnytsia. The new UBC Group plant – Green Cool. The first stage of about 20,000 square meters is ready. The installation and start-up phase has started under the guidance of Italian engineers. At the same time, we recruit personnel. Theoretically, in June the plant must produce the first products,” President of UBC Group Ihor Humenny wrote on his Facebook page.
According to him, refrigerators with a glass door and an ice cream box will be produced at the Vinnytsia factory.
As reported, the capacity of the first stage of the plant for production of refrigeration equipment in Vinnytsia will amount to 60,000 pieces per year. Its budget is EUR18 million.
After the launch of the first stage, UBC Group plans to expand the facility from 20,000 square meters to 35,000 square meters. The second stage will produce refrigerator boxes, the group will reach a capacity of 150,000 pieces per year. Capital investments in the second stage are estimated at about EUR10-12 million.
UBC Group has three plants in Ukraine and offices in 26 countries.

, , ,

U.VENTURES FUND INVESTS $1.15 MLN IN THREE STARTUPS (YOUTEAM, 3DLOOK, PUFETTO)

U.Ventures investment fund, founded by Western NIS Enterprise Fund, has invested $1.15 million in Ukraine’s startups YouTeam, 3DLook and Pufetto, the fund has said. “Ukraine has prominent product companies and startups that make revolutionary products and are highly competitive on a global market, and YouTeam, 3DLook, and Pufetto are dazzling examples of this. We are very pleased to invest in these startups and are convinced that they have a great potential to become leaders in its segments not only in Ukraine but worldwide,” President and CEO of Western NIS Enterprise Fund Jaroslawa Z. Johnson said.
3DLook, founded by Vadym Rohovsky, a serial entrepreneur from Odesa (the co-founder of the Clickky startup), in 2016, is an innovative solution for apparel retail and e-commerce that uses proprietary body measuring technology to make a perfect size and fit recommendations to consumers.
YouTeam, founded in Lviv in 2014, is a marketplace for hiring tech talent from software development firms.
Pufetto is a Ukrainian furniture manufacturer and e-commerce player that enables customers to customize its furniture (sofas, armchairs, beds) through its online platform and have it delivered to door within three of four weeks. Pufetto sells furniture through the proprietary online platform, as well as via show rooms in Ukraine and Germany.
Attracted investments will help startups to improve their products, hire new people and expand to new markets.

, , , , , ,

UKRTELECOM WANTS TO CONNECT 8,000 VILLAGES WITH 6 MLN RESIDENTS TO BROADBAND INTERNET, TOTAL COST IS UAH 6 BILLION

Public joint-stock company Ukrtelecom has designed a project to connect remote settlements to the broadband Internet access service, which could cover 8,000 villages where 6 million residents are living, during two years, Director for Mass Market Segment at Ukrtelecom Denys Zakharenko said at the presentation of the project in Kyiv on Monday. The total cost of the project is UAH 6 billion, including UAH 3.2 billion (53.3%) of government investment.
He said that all villages with schools (6,900) and villages located close to them with over 100 households will be included in the project.
Ukrtelecom said that mass connection would ensure the coverage of 40% of the total number of rural residents in Ukraine with the broadband Internet access service, which would cut the gap between cities and small towns and villages by 75%, as the share of rural areas in Ukraine where the service is not provided would decline from 56% to 16%, from 8.3 million to 2.3 million people.
According to the calculations of the operator, some 58,000 km of networks should be built to cover 8,000 villages.
The operator said that 14,000 villages are not covered by the project. A total of 2.3 million residents live there. This could be a ground for the second wave of connections.
Thanks to the implementation of the project, broadband Internet access saturation in Ukraine would grow by 4.4%, and GDP would grow by 0.6%, which in the prices of 2018 is around UAH 20 billion. Growth of the national budget’s revenue could be UAH 5.4 billion.
Zakharenko said that the buyback period for government investment could be two years thanks to the increase in payment of taxes.
Ukrtelecom Director Yuriy Kurmaz said that the project will be presented to the government and parliament.

, ,