Business news from Ukraine

State Property Fund of Ukraine sold meat casing plant “Pentopak”

The State Property Fund (SPF) of Ukraine carried out the debut sale of the nationalized plant: at the repeated auction in the system “Prozorro.Sales” was sold for 103.11 million UAH plant for the production of meat casing PJSC “PentoPak” (Boryspil), said the head of the SPF Vitaly Koval.
“The buyer has 20 days to pay the cost of the lot. In addition to the proposed cost, the investor has already paid a guarantee fee of UAH 20.375 million”, – he said in Telegram.
The head of the FGI reminded that “PentoPak” was confiscated from the family of Russian-Greek oligarch Savvidi, and the funds from its sale will go to the restoration of our state in the Fund for the elimination of the consequences of Russian aggression.
The buyer was Lonikos LLC (Kiev), whose director is Larisa Ashkinazi.
According to the Opendatabot, the main activity of the company is renting and operating its own or leased real estate. Also “Lonikos” is engaged in non-specialized wholesale trade and activities of intermediaries specializing in trade in other goods.
As reported, on May 31, after the first fruitless auction scheduled on “Prozorro.Sales”, the plant was put up for a second auction at a halved price – for UAH 101.87 million.
The FGI reported that the plant provides a full cycle of production of packaging for meat processing products. “PentoPak” produces multi-layer synthetic shrink casing, using advanced technologies. The company’s customers include well-known Ukrainian brands such as Rud, Globino, Meat Guild, as well as customers from more than 30 countries.
The enterprise has preserved 193 jobs, has no debts on wages and to the budget. The company plans to modernize production and enter new markets of packaging materials for the dairy industry, fish processing and animal feed packaging.
Earlier, in February 2024, the SACS decided to confiscate Savvidi’s property and transfer 100% of PentoPak shares to the State Property Fund, as the oligarch has close ties with the Russian leadership and supports the occupation authorities in the temporarily seized territories of Ukraine.

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Reception on occasion of 78th anniversary of proclamation of Italian Republic was held in Kyiv

Ambassador Extraordinary and Plenipotentiary of the Republic of Italy to Ukraine Pier Francesco Zazzo held a solemn diplomatic reception on the occasion of the 78th anniversary of the proclamation of the Italian Republic in solidarity with Ukraine and compatriots who are currently living and working in Ukraine.

The term of office of the Ambassador Extraordinary and Plenipotentiary of the Republic of Italy to Ukraine, Pier Francesco Zazzo, will end at the end of June this year. On his last National Day as Ambassador of Italy to Ukraine, the diplomat welcomed distinguished guests.

The solemn event was attended by heads of diplomatic missions of foreign countries accredited in Ukraine, representatives of the government, including Deputy Minister for Foreign Affairs of Ukraine Yevhen Perebyinis, businessmen, members of the Italian diaspora, educators and cultural figures.

Ambassador of Italy to Ukraine Pier Francesco Zazzo in his welcoming speech noted that this year Kyiv celebrates the Day of Proclamation of the Italian Republic again in tragic conditions due to the Russian invasion of Ukraine.

“We stand with a country that is fighting to defend values such as freedom and its national identity, and we will continue to provide our full support as long as necessary to achieve a just and sustainable peace,” the diplomat said.

The Ambassador emphasized that Italy, as a responsible member state of the European Union, NATO and the G7, will continue to provide Ukraine with comprehensive support at the bilateral and multilateral levels, in the political, economic, military and humanitarian spheres.

In his speech, Mr. Ambassador also emphasized that Ukraine is a priority topic of the Italian presidency of the Group of Seven and reminded that the first G7 Leaders’ Summit was convened by the Prime Minister of Italy Mrs. Giorgia Meloni in Kyiv, on the second anniversary of the beginning of Russian aggression, and noted that President of Ukraine Volodymyr Zelenskyy has been invited to the next Leaders’ Summit in Borgo Eniazia.

In conclusion, the Head of the Diplomatic Mission reminded that in 2025 Italy will host the Ukraine Recovery Conference, which demonstrates Italy’s long-term commitment to Ukraine’s economic recovery and expressed hope that a just and lasting peace for Ukraine will soon be achieved, respecting its sovereignty and territorial integrity, with security guarantees for its future.

Italy recognized Ukraine’s independence on December 28, 1991. Diplomatic relations with the Italian Republic were established on January 29, 1992.

Source: https://en.interfax.com.ua/news/diplomats/992510.html

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Forecast of dynamics of changes in ukrainian GDP in % for 2022-2025 in relation to previous period

Forecast of dynamics of changes in ukrainian GDP in % for 2022-2025 in relation to previous period

Source: Open4Business.com.ua and experts.news

American Chamber of Commerce in Ukraine invites to Summer Blood Donor Day

AmCham Ukraine and member company Sayenko Kharenko are delighted to invite you to our Summer Blood Donation Day.

Right now, Ukraine needs blood more than ever, especially during these challenging times of Russia’s full-scale war. Your donation can make a real difference and save lives.

Bring your friends, family, and everyone who wants to join this important cause. Let’s come together, donate blood, and show our support. Plus, there will be refreshments and great company.

We can’t wait to see you on June 20 and make a positive impact together.

Follow all the rules and recommendations to prepare for donating blood.

Please take your passport and identification code with you. Citizens of other countries can also be donors if they have a residence permit in Ukraine and an identity document.

Due to security reasons, venue details will be provided one day in advance. The location has an underground shelter.

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World grain harvest will be 1.2% higher than a year earlier – FAO

World grain production in 2023-2024 will be 1.2% higher than a year earlier, amounting to 2.846 billion tons, taking into account the increase in barley, rice and sorghum production, FAO (the UN Food and Agriculture Organization) predicts.

According to its review, global production of corn and wheat will decline, while barley, rice and sorghum production will increase. In addition, the recent unfavorable weather conditions in the Black Sea region are likely to lead to a decline in global wheat production, but this possibility is not yet reflected in the forecast.

At the same time, global grain stocks are likely to increase by 1.5% compared to the initial level and reach a record high of 897 million tons. Corn, barley, sorghum, and rice stocks are expected to increase, while wheat stocks may decline. The global stocks-to-use ratio is likely to remain at 30.9%.

In addition, the FAO revised its forecast for global cereal consumption in 2024-2025 by 0.5% to a new record level of 2.851 billion tons, which it explained by an increase in food consumption, especially rice.

Global grain trade will decline by 1.3% compared to the previous year to 481 million tons, due to lower prospects for corn trade. International trade in rice is expected to grow strongly, FAO predicts.

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Real GDP in 2021-2025 (forecast)

Real GDP in 2021-2025 (forecast)

Source: Open4Business.com.ua and experts.news