Business news from Ukraine

Business news from Ukraine

AVERAGE MONTHLY WAGE BY REGION IN JAN 2022, UAH

Average monthly wage by region in Jan 2022, UAH

SSC of Ukraine

WE HAVE PREPARED LEGISLATIVE FRAMEWORK TO ENSURE FULL CYCLE OF PRODUCTION OF CANNABIS PREPARATIONS IN UKRAINE – MINISTER

The Cabinet of Ministers of Ukraine has supported a bill on the use of medical cannabis preparations for the treatment of certain diseases, Minister of Health of Ukraine Viktor Lyashko said on his Facebook page.
“We have prepared a legislative framework to ensure the full production cycle of cannabis-based drugs in Ukraine: from cultivation and processing to full-fledged production,” Lyashko said.
He also noted that cannabis medicines should not be identified with narcotic substances, since they do not have a psychoactive effect, and the measures for regulating their circulation are different.
“Medical” cannabis contains cannabidiol, which does not have a pronounced psychoactive effect, so it is not interesting for recreational use. At the same time, we still propose to establish strict control over the cultivation, production and sale of drugs, understanding the sensitivity of this issue in society,” Lyashko explained.
Cannabis-based preparations are used to reduce pain, muscle spasms and cramps, treat anorexia, PTSD and anxiety disorders. In addition, they are used in the treatment of certain types of epilepsy, glaucoma, psoriasis, parkinsonism, and multiple sclerosis. An important task of this medicine is to alleviate pain and suffering for seriously ill and palliative patients, including cancer patients, patients with HIV.

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SLOVENIAN PRESIDENT: UKRAINE SHOULD BECOME INTEGRATED PART OF EUROPEAN COMMUNITY

Ukraine should become an integrated part of the European community, President of Slovenia Borut Pahor has said.
“We should not make mistakes of the past. Ukraine should become an integrated part of the European community,” he said during a meeting with Deputy Chairperson of the Verkhovna Rada of Ukraine Olena Kondratiuk.
According to a statement posted on the Ukrainian parliament’s website, Kondratiuk in turn said that granting Ukraine the EU candidate status as early as in late June this year would meet the interests of both Ukraine and the EU. She also underlined that she was glad to see the coincidence in the opinions of Kyiv and Ljubljana on the issue.
As reported, Kondratiuk is holding a working visit to Slovenia.

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MANUFACTURER FROM UKRAINE LAUNCHES PRODUCTION OF AGRICULTURAL EQUIPMENT IN POLAND

The Ukrainian company, HF Agro LLC (Kharkiv), has launched new production lines in the south of Poland, having established a full cycle of production of Gekon disc harrows, the company’s website reported on Tuesday.
“Poland is a large and competitive market. In addition, it is possible to establish exports to other EU countries through it. The launch of a new production site will improve work on the European market and increase the competitiveness of products,” the company said in a statement.
The manufacturer noted that the new line of Gekon disc harrows does not require periodic maintenance due to the sealing of bearing units, which saves time for its users.
HF Agro is an agricultural machinery brand created in 2020 by Roman Hirshfeld, who previously held the position of president for production of tillage equipment of the agricultural equipment manufacturer Lozova Machinery.
The brand’s product line includes reversible plows, disc, tooth, rotary and loop harrows, subsoilers and slot cutters, field cultivators and seedbed preparation units. The product range also includes a large selection of spreaders, applicators for liquid fertilizers and ammonia, grain packers and unloaders, field rollers for soil compaction before and after sowing.

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LARGEST UKRAINIAN MINING HOLDING METINVEST CLIMBS TO 42ND PLACE AMONG GLOBAL STEEL PRODUCERS IN 2021

Metinvest, the largest Ukrainian mining and metallurgical holding, ranked 42nd in the list of the world’s top steel-producing companies in 2021 with a volume of 11.48 million tonnes compared to 45th place in 2020, when it produced 10.16 million tonnes.
According to the annual publicationfrom the World Steel Association (Worldsteel), China Baowu Group became the largest steel company at the end of last year with 119.95 million tonnes (in 2020 it was 115.29 million tonnes), ArcelorMittal with 79.26 million tonnes (in 2020 – 78.46 million tonnes) is in second place.
They are followed by Ansteel Group with 55.65 million tonnes, Nippon Steel with 49.46 million tonnes (41.58 million tonnes) and Shagang Group with 44.23 million tonnes (41.59 million tonnes).
There are no Ukrainian companies in the list of the 50 top steel-producing companies at the end of 2021, as well as at the end of 2014-2020, except for Metinvest.
Among Russian companies, NLMK was 21st with 17.29 million tonnes (at the end of 2020 it was in 22nd place with 15.75 million tonnes), Magnitogorsk Iron and Steel Works was 32nd with 13.59 million tonnes (37th with 11 .57 million tonnes), Evraz group was in 34th place with 13.57 million tonnes (30th place with 13.63 million tonnes), Severstal was 40th with 11.65 million tonnes (40th place with 11.31 million tonnes).
According to Worldsteel, Ukraine produced 21.4 million tonnes of steel in 2021 and was 14th among major steel-producing countries (in 2020 it was 12th place with 20.6 million tonnes), the volume of pig iron production amounted to 21.2 million tonnes (20. 4 million tonnes), while last year the country exported 3.2 million tonnes (3.1 million tonnes) of pig iron, the apparent consumption of pig iron in Ukraine amounted to 17.9 million tonnes (17.3 million tonnes). Apparent steel use in Ukraine in 2021 amounted to 4.8 million tonnes (4.6 million tonnes in 2020), while use per capita reached 110.3 kg (in 2020 it was 105.2 kg per capita).
On average, in the world in 2021, the apparent use of steel amounted to 232.8 kg per capita. (229 kg per capita), the best indicators are in South Korea 1075.6 kg per capita. (955 kg per capita), Taiwan 885.6 kgper capita (789 kg per capita), Czech Republic 775.5 kg per capita. (624.3 kg per capita), China 666.5 kg per capita. (699.2 kg per capita), Japan 456.2 kg per capita. (416.1 kg per capita) and Austria 516.9 kg per capita. (405.2 kg per capita).
At the end of 2021, Ukraine took 10th place in the world ranking of major exporters of steel, having sold 15.7 million tonnes of steel products on foreign markets (in 2020 it was in 9th place with 15.2 million tonnes), China ranked first 66.2 million tonnes (51.4 million tonnes), Japan was in 2nd place with 33.8 million tonnes.
At the same time, in the ranking of net exporters, Ukraine ranked fifth in the world with a volume of 14.4 million tonnes (in 2020 it was in the fourth place with 13.9 million tonnes), China was the first with 38.4 million tonnes (fifth place with 13.5 million tonnes), Japan was second with 28.3 million tonnes (second with 24.8 million tonnes).
The largest metal importers last year were EU (27) with 48.1 million tonnes, the United States with 29.7 million tonnes and China with 27.8 million tonnes.
In the ranking of net importers in 2021, the leaders are the EU (27) with 22 million tonnes, the United States with 21.4 million tonnes and Thailand with 13.7 million tonnes.

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WORLD BANK WILL ALLOCATE ADDITIONAL FINANCING FOR UKRAINE IN AMOUNT OF $1.49 BLN

The World Bank’s Board of Executive Directors has approved additional funding for Ukraine in the amount of $1.49 billion as part of the Public Expenditure Support for Sustainable Governance in Ukraine project, the bank said on its website on Wednesday night.

“The funds from this project will be used to pay the salaries of civil servants and teachers,” the release notes.

According to him, the project received financial guarantees from the UK, the Netherlands, Lithuania and Latvia; parallel funding from Italy and expected future guarantees including Denmark.

The project is also co-financed by contributions to a new multi-donor trust fund (MDTF) from several countries, including Switzerland.

“The World Bank Group continues to take swift action to support Ukraine and its people during the war that is destroying the country,” World Bank Group President David Malpass was quoted as saying.

According to him, the World Bank is working with donor partners to mobilize the necessary financial support and using the flexibility of various existing financial instruments to help provide Ukrainians with continuous access to medical services, education and social protection.

“Sustaining these essential services and the government’s ability to provide them is important to prevent further deterioration of living conditions and poverty in Ukraine, given the suffering already caused by the war,” said Arup Banerjee, WB Regional Director for Eastern Europe. He added that maintaining effective government capacity will be the foundation of any recovery and reconstruction in the future.

The bank recalled that this new financing is part of a support package of more than $4 billion that the WB is mobilizing, and about $2 billion of these funds have already been disbursed.

Since Ukraine joined the World Bank in 1992, the bank’s commitments to the country have reached almost $16 billion in about 90 projects and programs, including the project adopted today.