Business news from Ukraine

UKRAINE MUST CREATE ‘DIGITAL CORRIDORS’ TO MOVE GOODS ON EUROPE-ASIA ROUTE – MINISTER

KYIV. Feb 22 (Interfax-Ukraine) – The top priority for Ukraine is the provision for reliable and safe movement of goods on the Europe-Asia route via the creation of digital corridors.

The press service of Ukraine’s Infrastructure Ministry has reported that Ukrainian Infrastructure Minister Volodymyr Omelyan gave this information at the 79th session of the Inland Transport Committee (ITC) of the United Nations Economic Commission for Europe (UNECE).

“The ‘digital corridor’ implies the use of modern information systems providing for continuous monitoring of cargo flows, the tool for electronic cooperation of foreign economic operators with transport and shipping companies and public oversight agencies and the organization of exchange of data in the volumes required for business processes of the system participants,” he said.

The minister said that Ukraine has joined the EU e-Infrastructure project. The country must toughen legislation in the area of digital technologies and create institutional preconditions for digital development for this project.

Creation of digital transport corridors is to allow tracking cargo online without any territorial, technical or legal restrictions and the organization of business processes on the basis of e-documents, he said.

“However, despite the fact that the creation of digital transport corridors is plans for the near future, today we are taking measures to relax the trade rules,” the minister said.

UKRAINE INTERESTED IN COOPERATION WITH QATAR IN DEVELOPING PORT INFRASTRUCTURE

KYIV. Feb 22 (Interfax-Ukraine) – Ukraine is interested in cooperation with Qatar in developing port infrastructure.

The press service of Ukraine’s Infrastructure Ministry has reported that that this was discussed at a meeting of Infrastructure Minister of Ukraine Volodymyr Omelyan and Minister of Transport and Communications of Qatar Jassim Bin Saif Al-Sulaiti held on February 21, 2017 in Geneva as part of the 79th session of the Inland Transport Committee (ITC) of the United Nations Economic Commission for Europe (UNECE).

Omelyan said that Ukraine is interested in launching direct flights to Qatar and develop port infrastructure in Ukraine. The parties arranged a visit of the head of the Civil Aviation Authority of Qatar to Ukraine in March 2017. The visit aims at establishing cooperation between the agencies of the two countries.

Al-Sulaiti informed Omelyan about construction of a new container port in Qatar. Its capacities would reach 6 million TEU by 2020. The parties arranged that representatives of port industry of Qatar would visit Ukraine with the purpose of establishing cooperation.

Al-Sulaiti also invited Omelyan to visit Qatar.

NKMZ SHIPS GEARS FOR MODERNIZATION OF BELARUSIAN STEEL WORKS’ BAR ROLLING MILL

KYIV. Feb 22 (Interfax-Ukraine) – Public joint-stock company Novokramatorsky Mashinostroitelny Zavod (NKMZ, Donetsk region), a leading heavy engineering enterprise in Ukraine, has shipped eight reinforced gears for modernization of a bar rolling mill 320 of Belarusian Steel Works (Zhlobin, Belarus).

The enterprise’s press service reported on Tuesday that the equipment will replace gears made by Voest Alpine (Austria).

The first gear has been installed, and the rest of seven gears will be installed at the start of this summer.

NKMZ designs, manufactures and installs equipment for metallurgical work, press and forging, ore processing and mining, coal mining, lifting and conveying, milling and crushing, oil and gas production, highway engineering, nuclear power generating and tool-making. The enterprise also manufactures consumer goods.

GERMANY PROVIDING EUR 4.5 MLN MORE FOR IDPS IN UKRAINE

KYIV. Feb 22 (Interfax-Ukraine) – The German government has decided to provide financial assistance under the humanitarian aid programs of Germany’s Red Cross (DRK) for internally displaced persons (IDPs) in Ukraine until the middle of 2019 with the additional amount of EUR 4.5 million. DRK, in turn, would provide own contribution in the amount of EUR 285,000.

The German Embassy in Ukraine reported on Tuesday that the target group of this humanitarian aid is IDPs severely suffered from the conflict and living in Kharkiv region, mainly aged people, people with disabilities, single mothers and fathers and families with many children (up to 5,000 people). They receive aid in the form of food and pharmaceutical vouchers.

The embassy said that DRK and Ukrainian Red Cross agree their steps with other target groups of humanitarian aid in Kharkiv region coordinated by the UN and International Committee of Red Cross (ICRC).

WIZORIA CHAIN COULD OPEN FOUR MOVIE THEATERS IN KYIV CITY AND REGION IN 2017

KYIV. Feb 21 (Interfax-Ukraine) – Piramida Trade LLC (Poltava) developing the eponymous movie theater chain in Ukraine seeks to open three new movie theaters in Kyiv city and one in Boryspil (Kyiv region) in 2017, the press service of the chain has told Interfax-Ukraine.

“Movie theaters will be opened as part of the shopping malls on 2,000-3,000 square meters. Wizoria will work in the six screen format in Kyiv and two screens in Boryspil,” the press service said.

The company receives offers to cooperate from operating malls and malls under construction. The company is selecting the malls now.

The chain also plans to expand to Dnipro and Odesa.

“Investment in movie theaters varies depending on the concept, the number of screens, equipment, quality of decoration and other things. Average payback term for one movie theater is four or six years,” the company said.

As of February 2017, the Wizoria chain had four movie theaters in Kyiv, Poltava and Myrhorod.

Piramida Trade LLC was registered in 1997.

Ultimate beneficiaries are Andriy Sokolov and Iryna Sokolova (36% and 64% respectively).

The charter capital is UAH 100,000.

They are also owners of the Concorde shopping mall (Poltava).