Business news from Ukraine

Business news from Ukraine

ZELENSKY SETS TASK TO REDUCE COAL AND ELECTRICITY IMPORTS

President of Ukraine Volodymyr Zelensky has set a task to Energy and Environment Protection Minister Oleksiy Orzhel to reduce coal and electricity imports.
“What kind of import can we talk about when the countries from which we import do not allow us to enter their markets?” the president said at the meeting of the workers of coal industry in Kyiv on Tuesday.
He said that import is possible exclusively regarding definite brands of coal, which are not extracted inside the country.
“Therefore, our coal, our miners, our electricity comes first,” Zelensky said, adding that there is no place for coal imports in the Ukrainian coal industry.

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HEAD OF EU DELEGATION TO UKRAINE SAYS RULE OF LAW, COMBATING CORRUPTION ARE MAIN PRIORITIES FOR UKRAINE

The main priorities for the Ukrainian government are establishment of the rule of law and combating corruption, Head of the EU Delegation to Ukraine Matti Maasikas said. During a “Reform Forum: On the Way to Vilnius”, he said many challenges are ahead, but the rule of law, its establishment and combating corruption will remain priority ones.
The diplomat stressed that after lustration of the bank sector further efforts to restore confidence in the financial sector are needed.
“Many reforms are still ongoing. Land reform, labor market reform, education reform. If implemented, they will make Ukraine a much more efficient country,” he said.
Among the achievements of the reforms in Ukraine, Maasikas mentioned that the macroeconomic situation has stabilized, the banking sector has been largely purified, the Naftogaz Ukrainy has been unbundled, and the government is improving access to various services for citizens.
The EU Ambassador stated that the EU was ready to support the government and people of Ukraine, and is ready to accompany the process of implementation of the Association Agreement and the agreement on the Deep and Comprehensive Free Trade Area between Ukraine and the EU.

UKRAINIAN RDS GROUP WANTS TO ENTER EUROPEAN MARKETS

The RDS road construction group invested almost UAH 170 million in the upgrade of its machinery fleet in 2019 and ready to enter the road construction markets of Poland and Romania, the co-owner of the group, Yuriy Shumakher, has said.
“The acquisition of modern machines, mechanisms and vehicles cost the company UAH 167.16 million. For several years now, we have been investing annually about $8 million in the renewal of our fleet of road machines,” he said in an interview with Interfax-Ukraine.
According to him, in 2019 the company’s fleet was expanded with 114 units of road machines and equipment.
Shumakher said that RDS uses its own funds, funds borrowed from Ukrainian banks and leasing companies to upgrade its fleet. Also, part of the equipment is bought through financing of manufacturing companies such as Wirtgen and Zeppelin.
The co-owner of the group said that RDS purchases mainly foreign equipment from leaders in modern engineering.
“We have ambitions to participate in tenders abroad,” Shumakher said.
According to him, unlike Ukraine, tenders in Europe have very strict criteria and a mandatory requirement, in particular, is experience in the European Union for at least three to five years.

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UKRAINE AND TURKEY AGREE TO SIGNIFICANTLY EXPAND REGULAR FLIGHTS

The aviation authorities of Ukraine and Turkey have agreed to significantly expand regular flights, Ukraine’s Ministry of Infrastructure has said.
“Based on the results of successful negotiations at the level of the aviation authorities of Ukraine and Turkey, regular flights with the Republic of Turkey were substantially expanded. The weekly frequency for passenger transportation on most routes was almost doubled. The limit on the number of flights was removed for the Odesa-Istanbul route. Cargo transportation is also without restrictions,” Minister of Infrastructure Vladyslav Krykliy said.
According to him, now 11 cities of Ukraine have the opportunity of direct air communication with Turkey, namely Kyiv, Odesa, Kherson, Mykolaiv, Kharkiv, Dnipro, Lviv, Chernivtsi, Vinnytsia, Ivano-Frankivsk, and Zaporizhia.
“This is an impetus for the development of regional airports. Thanks to the State Aviation Administration for a good work. We are not resting on our laurels. We are confidently stepping west towards the Open Sky,” the minister said.
The minister also emphasized that the expansion of regular international and domestic flights to/from Ukrainian cities is an important part of the integrated development of the aviation industry in Ukraine.
“We liberalize international air transportation, modernize regional airports, create equal conditions for airlines to enter and develop a transparent and competitive market for passenger and cargo transportation by air,” Krykliy said.

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MASLENITSA WILL BE CELEBRATED NEAR KYIV ACCORDING TO ANCIENT TRADITIONS

If you are tired of the gloomy winter and waiting very much for the spring sun come to the «Kyivan Rus Park» to the biggest celebration of Maslenitsa in Ukraine on February, 29 and March, 1 2020.
The horse performances, ancient rites, burning large scarecrows, tasty pancakes with different fillings and various dishes prepared on open fire, gifts on the Maslenitsa`s post, traditional Slavic round dances and amusements, horse riding, master-classes, extreme rides, museums and expositions will be waiting here for the guests. In the evening – a spectacular fire program with shooting fire balls from the enormous Trebuchet and on Saturday – also a fire show.
And all of this in a real, live medieval city!
Ancient Kyiv opens at 10:00, the program starts at 13:30.
The ticket price: a full adult ticket – 250 UAH, for pensioners and students – 150 UAH, for schoolchildren – 80 UAH, for preschool children – for free.
Ancient Kyiv opens at 10:00. The program starts at 13:30.
Ancient Kyiv in the «Kyivan Rus Park» is located in Kyiv region, Obukhiv district, the vill. Kopachiv.
Route taxis leave from Kyiv from the «Vydubychi» metro station.
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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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 25/02/20

National bank of Ukraine’s official rates as of 25/02/20

Source: National Bank of Ukraine