Business news from Ukraine

Business news from Ukraine

Montenegro initiates review of all honorary citizenships granted

Montenegro’s Prime Minister Milo Đukanović has initiated a review of the practice of granting honorary citizenships, stressing that they should be awarded exclusively for specific services to the country, such as job creation, economic development, and the promotion of Montenegrin interests. He warned that if it turns out that passports were handed out as “personal favors” or without clear criteria, it would discredit state institutions and encourage corruption.

Spajic took this step amid the procedure to strip Kosovar businessman Naser Ramaj of his citizenship. This case has become a prime example of the review of the practice of granting honorary citizenship, especially against the backdrop of Montenegro’s active movement towards European Union membership.

Ramaj, who received a Montenegrin passport in October 2023 as an investor in the €80 million Porto Budva project, is now involved in a criminal case involving the embezzlement of €2.2 million. He is accused of systematic tax evasion in the implementation of this residential complex. It is noteworthy that citizenship was granted under the previous government of Dritan Abazovic, which calls into question the transparency of such decisions in the past.

Spajic emphasizes that such cases damage the country’s international image at a critical moment when Montenegro is seeking to complete EU accession negotiations by the end of 2025. European partners have long expressed concern about the corruption risks associated with economic citizenship programs. The government’s current actions are aimed at demonstrating its determination to bring all procedures into line with European standards.

This precedent could be a turning point in Montenegro’s citizenship policy. The authorities are not only reviewing the specific decision, but also conducting a systematic review of previously granted honorary citizenships in an effort to restore the trust of both their own citizens and the international community. The success of this initiative will be crucial for the country’s further European integration, scheduled for 2028.

Source: https://t.me/relocationrs/930

 

, , ,

Construction of tunnels on China-Kyrgyzstan-Uzbekistan railway route has begun

In the Suzak district of the Jalal-Abad region of Kyrgyzstan, construction has officially begun on major railway facilities for the China-Kyrgyzstan-Uzbekistan railway.

As part of the construction of this railway, three tunnels with a total length of over 10 km are planned to be built, including: Tunnel No. 1 Naryn (Jaman-Dawan) – 12.5 km; Koshtoba (Kazarman) tunnel – 13.2 km; Fergana mountain tunnel – 12.2 km. The total length of this railway project is 532.53 km.

More

, , , , ,

CCI expects export growth in 2025 in sectors where Ukraine has strong positions, says CCI President Gennady Chizhikov

In 2025, the Chamber of Commerce and Industry of Ukraine (CCI) expects an increase in export volumes, primarily in industries where Ukraine already has sustainable competitive advantages. This was stated by CCIU

President Gennady Chizhikov in an exclusive interview with the Interfax-Ukraine news agency.

“We see growth potential in agro-processing, food industry, IT, machine building, pharmaceuticals, and woodworking. These industries have shown resilience even in wartime,” Chizhikov said.

According to him, products with high added value will remain the key driver. He stressed that the chamber’s task is to help businesses integrate into European value chains.

, ,

Friedrich Merz was not elected chancellor in first round of elections, which is “unprecedented event” in German history

The leader of the Christian Democratic Union of Germany (CDU), Friedrich Merz, was defeated in the first round of voting, receiving 310 votes instead of the required 316. A repeat vote will take place within 14 days, tagesschau.de reported on Tuesday.

“CDU leader Friedrich Merz lost the first round of voting in the Bundestag chancellor election. In a secret ballot, he received 310 votes in favor, six less than the required majority of 316 votes. The CDU/CSU and SPD coalition parties together have 328 seats in parliament,” the report said.

According to the publication, this is an ‘unprecedented event’ in the history of the Federal Republic of Germany. Never before has a designated chancellor been elected by the Bundestag after federal elections and successful coalition negotiations.

It is noted that the German Constitution regulates such a case. Article 63, which contains the rules for electing the chancellor, states: “If no candidate is elected, the Bundestag may elect the federal chancellor by a majority of its members within 14 days after the vote.”

A second vote may be held within two weeks, possibly with a different candidate. If the chancellor still does not receive a majority of votes, a third vote may be held by a majority of the members present.

Uzbekistan to begin construction of $10 bln gas chemical complex

Large-scale investment projects in the chemical industry are planned in the Khorezm region of Uzbekistan, which are expected to transform this industry into one of the key drivers of economic growth in the region. This was announced by the press secretary of the President of Uzbekistan during a meeting in the Urgench district.

This year, the first phase of the construction of a $10 billion gas chemical complex will begin in the Tuprakkalinsky district, which will use MTO (methanol-olefin) technology. Upon completion of the project, the complex will annually produce 14 types of basic polymer products with high added value and a total capacity of up to 2 million tons.

The project was first announced in March last year during the Head of State’s visit to the region. At that time, Shavkat Mirziyoyev held a working meeting with the leadership of the Ministry of Energy, Uzkimyosanoat, and a large foreign investment company, whose name was not disclosed.

It was expected that the future production facilities would be able to produce up to 2.5 million tons of products per year and create about 3,000 jobs. The project is scheduled for implementation in 2024–2028.

In addition, a 10-hectare chemical technology park will be created in the Khazarasp district, where projects worth $100 million will be implemented for the production of polymer products.

Special attention was paid to the region’s construction industry. Last year, 663 enterprises in Khorezm produced building materials worth about $86.6 million. To further develop this segment, 40 new projects with a total value of $100 million are planned for implementation in 2025, which will increase production to about $118.1 million.

More details

, ,

Metinvest invests in equipment modernization at Kametstal

The Kametstal plant, part of the Metinvest mining and metallurgical group (Kamensk, Dnipropetrovsk region), has begun work on upgrading its main steelmaking equipment at one of its key facilities, converter No. 1, as part of this year’s capital repair program.

According to a press release on Monday, this year the company’s primary focus is on upgrading its power equipment, primarily the converter’s gas extraction system, where a significant portion of the equipment will be replaced with new equipment, including bellows and auxiliary caissons. The stator and rotor of the electric motor of the smoke gas blower of the gas extraction system will also be replaced.

Repairs to the converter housing have already been completed. One of the important stages of the overhaul is the complete replacement of the converter’s refractory lining. The old refractories have already been dismantled.

According to Andriy Zuev, Deputy Head of Engineering at Kametstal’s converter shop, the comprehensive tasks of all converter shop departments, as well as the Central Repair and Maintenance Department and the Central Repair Department, include not only the renovation of key equipment of the first converter, but also a thorough overhaul and repair of all infrastructure facilities of the unit: oxygen supply machines, vertical feeders for bulk materials, circulation pump units, special rolling stock – slag cars, steel cars, etc.

“Each of these facilities is undergoing mechanical, energy, and electrical repairs, which will ensure the reliable and efficient operation of converter No. 1 after the completion of the overhaul,” he said.

Kametstal is part of the Metinvest Group.

,