Business news from Ukraine

Business news from Ukraine

DNIPROSPETSSTAL INCREASES PRODUCTION OF ROLLED PRODUCTS BY 22% IN 2021

Dniprospetsstal Electrometallurgical Plant (Zaporizhia) in January-February this year increased the output of finished rolled products, according to recent data, by 21.7% compared to the same period last year, to 28,000 tonnes.
As the enterprise told Interfax-Ukraine, steel production during this period increased by 12.1%, to 37,000 tonnes.
In February, 18,000 tonnes of steel, and 13,000 tonnes of rolled products were produced.
As reported, Dniprospetsstal in 2020 increased output of finished rolled products by 1.3% compared to 2019, to 154,000 tonnes, and steel by 2.7%, to 225,000 tonnes.
Dniprospetsstal is Ukraine’s only manufacturer of high-quality rolled products and forgings made of special steel grades: stainless, tool, bearing, structural, and also from nickel-based superalloys.

UKRAINE CREATES BUREAU OF ECONOMIC SECURITY

President of Ukraine Volodymyr Zelensky signed law No. 1150-IX on the Bureau of Economic Security of Ukraine, which the Verkhovna Rada adopted on January 28, 2021, the presidential press service said on Monday.
“The document creates institutional conditions to protect economic processes from the pressure of law enforcement agencies, which is supported by Ukraine’s international partners. The main function of the Bureau of Economic Security will be analytical work, not law enforcement powers. The bureau will analyze the beneficiaries of financial transactions and determine if there is a violation of the law in the circulation of funds of certain businesses or government agencies,” the president said in the document.

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KOREAN INVESTORS PLAN TO INVEST IN UKRAINIAN AGRICULTURE

Head of Kirovohrad Regional State Administration Andriy Nazarenko and the director of Posco International Corporation on March 19 signed a memorandum of understanding, providing for mutually beneficial cooperation in the agricultural sector and expansion of investments in Kirovohrad region, the press service of Kirovohrad Regional State Administration reported. “For five and a half years I worked in Seoul, at the Ukrainian Embassy in the Republic of Korea, so I know this country well, I know its traditions, and this is a very powerful company. And the most important thing is that Posco knows about Ukraine. In 2019, the company made a powerful investment having built a terminal in Mykolaiv region. The company wants to develop it. Posco is interested in ground elevators. I really hope that the company will build one in Kirovohrad region,” the press service said citing Nazarenko.
The representative of the Korean company emphasized his interest in investments, business development in Ukraine and cooperation with Kirovohrad Regional State Administration.
“We look forward to further cooperation,” he said.
Posco International is one of the largest South Korean trading companies.
The main areas of activity are trade in agricultural products, goods of metallurgical and chemical industries, as well as the implementation of investment projects in the energy sector.

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UKRAINE PLANS TO AGREE WITH THE PHILIPPINES ON VISA WAVER FOR CITIZENS WITH DIPLOMATIC, OFFICIAL AND SERVICE PASSPORTS

The Cabinet of Ministers of Ukraine plans to negotiate with the Republic of the Philippines on exemption from visa applications for citizens using diplomatic, official and service passports.
The corresponding draft agreement was approved at a government meeting. Oleksandr Nechytailo, Ambassador of Ukraine to the Philippines, was authorized to sign the document.
As soon as the agreement enters into force, citizens of countries with diplomatic, official and service passports will be able to stay on the territory of the other side for 90 days during 180 days without visas.

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METINVEST ACQUIRES TWO MORE COMPANIES

Metinvest B.V. (the Netherlands), the parent company of the international vertically integrated mining and metallurgical group Metinvest, has established control over PrJSC Mine Construction Management Department No. 1 (Lysivka village, Pokrovsky district, Donetsk region) and PrJSC Automobile Enterprise Ukrbud (Pokrovsk, Donetsk region), included in Pokrovske Colliery.
According to the statement of the department in the information disclosure system of the National Securities and Stock Market Commission of Ukraine with reference to the information received on March 19 from Metinvest B.V., on March 18, 2021, the company received the ownership of the controlling stake in this enterprise.
“In pursuance of the requirements of Part 2 of Article 65 of the law on Joint Stock Companies, Metinvest B.V. said that on March 18, 2021, it acquired ownership of the controlling stake in the company as a result of the acquisition of shares in the charter capital of Sviato-Pokrovska Mine No. 3 LLC and became indirectly the owner of 20,466 ordinary registered shares of PrJSC Mine Construction Management Department No. 1, and taking into account the number of shares owned by it and its affiliates, became (directly and indirectly) the owner of 54.23% (from 4.29%) of the charter capital of PrJSC Mine Construction Management Department No. 1,” the enterprise said.
At the same time, it is specified that Metinvest B.V. has not acquired shares of PrJSC Mine Construction Management Department No. 1 within the last 12 months.
In turn, in the information of PrJSC Automobile Enterprise Ukrbud in the information disclosure system of the National Securities and Stock Market Commission of Ukraine with reference to the information received from Metinvest B.V. on March 19, it is reported that on March 18, 2021, the company received the ownership of a controlling stake in this enterprise.
“On March 18, 2021, Metinvest B.V., as a result of the acquisition of shares in the charter capital of Sviato-Pokrovska Mine No. 3 LLC, indirectly became the owner of 2573558 common registered shares of PrJSC Automobile Enterprise Ukrbud, which is 50,000971% of the charter capital of Ukrbud,” the company said.
It also clarifies that Metinvest B.V. has not acquired shares of PrJSC Automobile Enterprise Ukrbud within 2020.

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NEWLY APPOINTED AMBASSADOR OF UKRAINE TO US PLANS TO ESTABLISH UKRAINIAN HOUSE IN WASHINGTON

Newly appointed Ambassador of Ukraine to the United States Oksana Markarova has announced plans to establish the Ukrainian House in Washington in 2021.
“In the Ministry of Finance, in addition to the typical Ministry of Finance work itself, my team and I managed to start and successfully create new projects related to public finance – the eData portal, the Startup Fund, and the UkraineInvest office, which are still actively working and developing after I left the Ministry of Finance. Likewise, for Washington, I have a dream, which has already turned into a plan – to establish a permanent Ukrainian House, which will be the main platform for the promotion of Ukrainian narrative, a meeting place for the exchange of ideas of all friends of Ukraine, a place for discussion and promotion of Ukrainian culture,” she said in an interview with LB.ua.
According to Markarova, the Ukrainian House will work in synergy with the embassy and will be open to everyone.
“And we will start establishing it this year,” she said.

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