Business news from Ukraine

Business news from Ukraine

Learning English in Ukraine by preschoolers in kindergartens to be mandatory from Sept 1, 2026

The bill on the use of the English language provides for the use of English in the educational process for children of preschool age and the learning of English by children of senior preschool age in kindergartens from September 1, 2026.
Bill No. 9432 dated June 28 on the use of the English language in Ukraine determines that ensuring the mandatory use of English in the educational process for children of early, primary and secondary preschool age in preschool education institutions, as well as ensuring the mandatory learning of English by children of senior preschool age in kindergartens will be introduced from September 1, 2026.
It is also determined that during four years from the date of the end of martial law, the state will provide financial assistance to citizens of Ukraine for learning English as part of adult education.
As reported, on June 28, President of Ukraine Volodymyr Zelenskyy submitted a bill to the Verkhovna Rada that defines English as the language of international communication in Ukraine, and also promotes the learning of English by citizens of Ukraine.

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Former U.S. Vice President Mike Pence arrives in Ukraine on unannounced visit

Former U.S. Vice President Mike Pence arrived in Ukraine on Thursday, June 29, on an unannounced visit, reports NBC News.
Pence became the first Republican U.S. presidential candidate to meet with Ukrainian President Vladimir Zelensky during the campaign.
“I believe America is the leader of the free world,” Pence told NBC News.
As part of his visit, Pence is visiting the de-occupied Moschun, Bucha and Irpen in the Kiev region.
“To come here just as a private citizen – to be able to see firsthand the heroism of the Ukrainian soldiers who held the defense in those woods, to see the heroism of the people here in Irpen who held back the Russian army, to see the families whose homes were literally shelled in the midst of the brazen and unprovoked Russian invasion – it only strengthens my resolve to contribute, to continue calling for American strong support for our Ukrainian friends and allies,” Pence said

President of Ukraine holds meeting with business representatives

President of Ukraine Vladimir Zelensky held a meeting with representatives of business, during which they discussed the topic of state reconstruction, the tax sphere, as well as the creation of a coordination tool.
“The meeting with representatives of business. A lot of pressing topics. Opportunities for the state to stimulate economic activity. The program “єOsel” and business participation. Recovery topics. Tax sphere and opportunities to reform it. Inspections. Law enforcement. Coordination and communication for the sake of problem solving. Useful business proposal to create a coordination tool,” Zelensky wrote in his Telegram channel on Thursday.
The president said that the main priority at the moment is the victory of Ukraine in the war.
“The main priority is always the strength of Ukraine. Thanks to everyone and everyone who adds strength to Ukraine, who keeps and creates new jobs, who strengthens our economy and helps develop our institutions,” Zelensky said.
According to the press service of the Ukrainian head of state, during the meeting Zelensky said that the priority in the reconstruction of Ukraine will be the participation of Ukrainian and foreign business, which worked and continues to work, especially during the war.
“But the doors will be open to many companies. We need hundreds and thousands of companies to come to us,” Zelensky said.
Also during the meeting, the parties agreed on joint efforts to reduce business problems from law enforcement agencies, as well as the prospect of forming a tax sphere and strengthening the effectiveness of bodies that should stimulate economic development and provide support for investments.
In turn, business representatives proposed the establishment of a coordination platform for communication on the protection of business rights and consideration of other issues. Zelensky supported this initiative and also offered to jointly decide on the format of the work.
“It is very important to create a platform on which we would constantly talk. Because we cannot accumulate problems for years: we simply will not be able to overcome them later,” the president stressed.

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“Energoatom” announced tender for CMTPL insurance

The state enterprise “NAEK “Energoatom” (Kiev) on June 29 announced a tender for compulsory motor third party liability insurance of owners of land vehicles (MTPL).
As reported in the electronic public procurement system Prozorro, the total expected cost of 1.083 million UAH.
The deadline for submission of documents for the tender is July 11

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National Bank of Ukraine obliged insurers “Greenwood Life Insurance” and “Alfa Insurance” to eliminate violations

National Bank of Ukraine (NBU) has applied the enforcement measures to IC “Greenwood Life Insurance” and IC “Alfa Insurance” (both Kiev) in the form of an obligation to take measures to remedy violations until July 17, 2023, according to the website of the regulator.
“Measures of influence are applied due to non-compliance with the requirements of paragraphs 1 and 11 of the NBU board resolution “On peculiarities of application of registration and licensing procedures of non-bank financial services market participants during martial law …”, – said in a message on the regulator’s website.
According to the document, it refers to written assurances of companies to the National Bank about the compliance of direct and ultimate owners of material participation to the requirements of the regulator on the financial / property status, documents to assess such a position and subsequent responses to the NBU request.
PrJSC “Greenwood Life Insurance” works in the Ukrainian life insurance market since 2007 as the successor of the insurance company “Guarantee Life”. The company is a part of financial and investment holding Green Globe Enterprises INC (USA, New York), which operates in the territory of Europe, Asia, America.
IC “Alfa Insurance” was founded in 2000. On December 5, 2022 NBU has applied to IC “Alfa Insurance” a measure of influence in the form of temporary suspension of the license to provide financial services. Due to the company’s non-compliance with the requirements of the Regulations on licensing and registration of financial service providers and the conditions of their activities in the provision of financial services…, namely, the requirements for business reputation of financial service providers.

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Ukraine increases beef exports 3.6 times in 5 months

Ukraine increased export of beef in January-May 2023 by 3.6 times, to 9.6 thousand tons and increased revenues from export operations by 2.6 times, to $38.1 million, according to the press service of the Ukrainian Club of Agrarian Business (UCAB).
The press-release notes that May was the most effective in this period: Ukrainian producers sold abroad 2.5 thousand tons of beef, which is 42% more than in the previous month.
“With the start of a full-scale war, opportunities to export meat and meat products from Ukraine became very difficult. Before the war, the share of beef transported by road was only 22.4% (77.6% was exported by sea). However, even under such difficult conditions, the geography of supplies has not changed. If Ukrainian exporters keep the deliveries at the same level till the end of the year, we will be able to approach the volumes of 2021”, – forecasts Maxim Gopka, analyst of UCAB.
The largest importers of Ukrainian beef in January-May this year were China – 5.8 thousand tons, Uzbekistan – 1.04 thousand tons, Azerbaijan – 1.06 thousand tons and Kazakhstan – 590 tons.
At the same time, UCAB notes that access to European markets is important for the Ukrainian beef market, because of the closed ports logistics is very expensive, which does not allow the industry to operate efficiently.
The report indicates that beef prices in the EU countries are at a high level, although the consumption of this type of meat by the population is gradually decreasing. This trend is expected to continue in the coming years. According to forecasts by the European Commission, cited by analysts, beef production in the EU may decrease by 1.6% in 2023, which will keep prices steadily high even further.
The UCAB believes that if Ukrainian products are allowed to enter the EU market in the near future, it will, on the one hand, support domestic consumption in the EU and, on the other hand, stabilize the domestic industry. In particular, Ukrainian producers will be able to recover by working more efficiently in compliance with all phytosanitary norms and implementing a policy of decarbonization, the business association believes.
At the same time, due to small export volumes of Ukrainian beef compared to other countries, it will not hurt local players in the EU market. In addition, it will help European producers to steadily export their own products to global markets, the UCAB believes, as the supply of beef in the world remains low against high demand.

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