Business news from Ukraine

Business news from Ukraine

SINGAPORE OPENS MARKET FOR UKRAINIAN PORK AND CHICKEN MEAT

Singapore has opened its market for Ukrainian pork. “For the first time since long a foreign market has opened for Ukrainian pork. Singapore’s regulator has accredited a Ukrainian enterprise for export of thermally processed/tinned pork and chicken meat,” the State Service of Ukraine on Food Safety and Consumer Protection said.
It also said that those were the first steps towards the opening of the global market for Ukrainian pork.

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CONSTRUCTION OF CARGO TERMINAL AT BORYSPIL AIRPORT TO START THIS YEAR

The construction of a cargo terminal at Boryspil International Airport (Kyiv region) is scheduled to begin this fall, the press service of the European Business Association (EBA) has said, following a meeting of Deputy Infrastructure Minister Oleh Yuschenko and airport representatives.
According to the EBA, with reference to the Ministry of Infrastructure, design work is currently underway to prepare for the construction of the cargo terminal, for which additional land plots have already been allocated. Provided that all preparatory work is completed on time, construction will begin in the fall and should be completed 16 months later.
“Thus, according to optimistic estimates, Boryspil airport will receive a new cargo terminal by the end of 2021,” the report says.
The association notes that the construction of the terminal will be carried out at the expense of attracted credit funds, which, according to representatives of Boryspil airport, have already been previously agreed upon. In turn, the Ministry of Infrastructure is negotiating, in particular, with Asian countries on attracting additional transit flows and is working on simplifying document flow.
“The business community approves such news, because logistics companies have long been awaiting the implementation of this project. The association’s logistics committee includes companies that transport goods, including by air, in international traffic and within Ukraine. Business representatives have a significant share in freight flow, which passes, in particular, through the cargo terminal of Boryspil airport,” the EBA said.
One of the main reasons that currently hinder the development of air cargo transportation in Ukraine, the association calls the worn-out infrastructure of the cargo terminal of Boryspil airport, since the structure of the terminal and its capacity have remained unchanged for many years. In this regard, problems regularly arise during the transportation of goods, especially in winter, when due to bad weather the airport cannot cope with the volume of load, the association explained.

GEORGIAN PRESIDENT PLANS TO VISIT UKRAINE

Georgian President Salome Zourabichvili has said that, as soon as it becomes possible, she will pay a visit to Ukraine, as an earlier visit was postponed due to the COVID-19 pandemic.
“I am prepared as soon as the time is right to pay a visit, which has long been postponed over COVID-19 and not only because of it. I will try to restore our relations on a basis that matches the traditionally friendly ties between our two countries,” Zourabichvili said at a press conference in Tbilisi on Friday.
Georgia and Ukraine are bound by a course toward integration into NATO and the European Union and by joint projects in the Black Sea with their European partners, and any attempts to weaken this partnership would negatively affect the European integration of both countries, she said.
At the same time, Zourabichvili mentioned recent remarks by Mikheil Saakashvili, a former Georgian president who currently serves as the head of the Executive Committee of the Ukrainian National Reform Council, who has said he does not recognize the incumbent Georgian government as legitimate.
“A provocative tone addressed to the Georgian government by a foreign citizen working for a foreign government harms our bilateral relations,” Zourabichvili said.
The Georgian Foreign Ministry recalled its ambassador from Kyiv in May, after Saakashvili was appointed head of the National Reform Council’s Executive Committee.
Tbilisi interpreted Saakashvili’s negative remarks about the Georgian government as interference in Georgia’s internal affairs.

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KYIVSTAR MOBILE OPERATOR TO EXTEND RETAIL CHAIN TO 544 OUTLETS

Kyivstar mobile operator has opened the 500th communication outlet in Illintsi, Vinnytsia region.
The company’s press service said on Friday that Kyivstar plans to develop its retail chain in small residential locations and some residential areas in big cities this year. Such a strategy is conditioned by the decision to get closer to the customers and make its services more accessible.
The mobile operators plans to extend its retail chain to 544 outlets by the end of 2020.
“We have resumed work of all 500 outlets. The number of customers and the quantity of services are growing. Around 645,000 subscribers addressed Kyivstar’s outlets in March and April, which were working in a special regime, and in May-June this index was more than 700,000 visitors,” the press service cited Retail Sales Director of Kyivstar Olha Smyslenova.
Around 14 million subscribers address Kyivstar’s outlets annually, most of them need consultation or service. In 2019, the service of replacing Sim card with Usim card was provided 2.5 million times.
Kyivstar is the largest Ukrainian telecommunications operator. It provides communications and data services based on a wide range of mobile and fixed-line technologies, including 3G. By the end of 2018, 26.4 million mobile subscribers and about 0.9 million fixed-line Internet customers used its services.
The shareholder of Kyivstar is the international group VEON (formerly VimpelCom Ltd.). Shares of the group are listed on NASDAQ Stock Exchange (New York).

THE SECRET OF GENGHIS KHAN WILL BE REVEALED NEAR KIEV

On July, 18 and 19 Ancient Kiev in the Principality of Kievan Rus (“The Kievan Rus Park”) invites you to join the weekend tour “The Mystery of Genghis Khan”. Horse stunt performances, horseback riding, delicious meals from the fire, extreme attractions, museums, expositions and lots of interesting activities will be waiting for you. And all this in a real, living medieval city!
Horseback archery competitions will be a pleasant surprise for the guests on July, 18 and19. The competitions will be held in the formats of single races and mass attack. Experienced horse stuntmen will compete in the accuracy of shooting using traditional (historical) bows on horseback at full gallop. It is an incredibly difficult task for the participants in the competitions, but at the same time, a thrilling and exciting show for the spectators!
Visiting Ancient Kiev is available in accordance with the requirements of the quarantine regime.
The entry ticket price:
• for adults (full price) – 200 UAH.,
• for pensioners and students – 150 UAH.,
• for schoolchildren – 80 UAH.,
• for preschool children – for free,
Ancient Kyiv is open from 10:00 till 19:00.
Ancient Kyiv in the «Kyivan Rus Park» is located in Kyiv region, Obukhiv district, the vill. Kopachiv.
Details on the website www.parkkyivrus.com
The Interfax subscribers can save money with the “openbusiness-20” promo code for a 20%-discount for a full price adult ticket to the Principality of Kyivan Rus:
– by previous order by tel.: +38 044 461-99-37, +38 050 385-20-35
– or at the cash desk at the entrance to the «Kyivan Rus Park».

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UKRAINIAN BUSINESS PREDICTS HRYVNIA DEVALUATION

Ukrainian business has worsened expectations regarding a slowdown in inflation over the next 12 months to 7% from 5.1% in the middle of the year and the weakening of the hryvnia exchange rate to UAH 28.28/$1 from UAH 26.01/$1.
According to the results of a regular quarterly survey of business expectations of enterprises, conducted by the National Bank of Ukraine (NBU) from May 4 to June 4 this year, businesses more restrainedly expected an increase in production of goods and services in Ukraine in the next 12 months. Thus, almost 34.1% (10.4% a quarter earlier) of respondents expected a decrease in this indicator.
According to the survey, the business activity of Ukrainian enterprises decreased to the lowest index of business expectations since 2015 for the next 12 months, to 90.8% from 110.5% a quarter earlier.
It is noted that a decline in business activity is expected by enterprises of all types and areas of activity.
The poll shows that most companies do not expect changes in their financial and economic situation in the next 12 months, 22% of companies expect deterioration. The regulator noted that representatives of small and medium-sized businesses have more pessimistic assessments.
According to the report, the business expects a decrease in the total volume of sales of products, including in the external market. In general, growth in this indicator is predicted only by respondents from processing industry and trade, and the lowest estimates are in construction and mining enterprises.
According to the survey, for the third quarter in a row, the share of companies that predict a decrease in the number of employees at their enterprises has increased. In particular, the share of enterprises planning to cut staff in the next 12 months increased to 26.3% from 21% a quarter earlier. The respondents are pessimistic in all types of economic activity, except for construction, where the number of employees is predicted to remain unchanged.
At the same time, the number of companies planning to raise wages for their employees has significantly decreased over the next 12 months, to 36.5% from 63.4%.