Business news from Ukraine

UKRAINIAN STATE FISCAL SERVICE AUTHORIZES EXPORTER STATUS TO 239 ENTERPRISES THAT SUPPLY GOODS TO EU

The State Fiscal Service (SFS) has announced that authorized exporter status has been granted to 239 enterprises that supply goods to the European Union. “In Ukraine, 239 enterprises that export goods to the EU countries received authorized exporter status as of July 2, 2019,” the agency said on Facebook.
As explained by the SFS, these companies can process goods at customs, using a simplified procedure, that is, without issuing a EUR.1 certificate, they can independently declare the preferential origin of goods in commercial documents.
In addition, the SFS noted that a Finance Ministry order amending the procedure for granting and cancelling such status by the customs came into force on June 21 this year.

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IVAN KUPALA (ST. JOHN`S DAY) IN «KYIVAN RUS PARK»

On July, 6 and 7 2019 Ivan Kupala (St. John`s day) will be celebrated in a big way in the «Kyivan Rus Park».
A bright program according to ancient Slavic traditions and customs with jumping over the bonfire, master-classes on the Kupala’s flowers wreaths making and their launch on the lake waters, as well as horse riding, horse-trick shows, tasty dishes and medieval drinks, medieval master-classes, the rest on the beach of the Forest lake, the possibility of a stay-for-the-night in the unique rooms of the medieval entourage and much more waits for the guests of Ancient Kyiv!
Ancient Kyiv opens at 10:00, the program from 14:00 till 01:00 on July, 6 and till 20:00 on July, 7.
The ticket price: a full adult ticket – 250 UAH, for pensioners and students – 150 UAH, for schoolchildren – 60 UAH, for preschool children – for free.
Ancient Kyiv in the «Kyivan Rus Park» is located in Kyiv region, Obukhiv district, the vill. Kopachiv.
Route taxis leave from Kyiv from the «Vydybitchi» 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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DTEK OIL&GAS PLANS TO INVEST UAH 1.2 BLN IN ZINKIVSKA FIELD (POLTAVA REGION)

DTEK Oil&Gas, responsible for oil and gas segment in the DTEK Group, after signing a product sharing agreement (PSA) for the Zinkivska field (Poltava region) will invest UAH 1.2 billion in its exploration and development, the company’s press service has reported.
DTEK plans to re-process and re-interpret data from previously conducted seismic surveys and gas-dynamic well surveys, 3D surveys, and drill three cat wells in this area. The planned start of production is the second year since the start of work.
As reported, on July 1, the intergovernmental commission on PSA prepared proposals for the winners of nine continental fossil fuel fields put up for competition for the Cabinet of Ministers. The conclusions of the commission are advisory in nature. The final decision is to be made by the government, which must approve the results of the competition by the adoption of relevant documents.

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UKRAINE AND CANADA TO WORK ON DEEPENING ECONOMIC COOPERATION AND EXPANSION OF FTA AGREEMENTS

Ukraine and Canada will work on deepening economic cooperation and expansion of the bilateral free trade area (FTA) agreement to the sphere of services and investments, Ukrainian President Volodymyr Zelensky has said. “Trade, economic and investment cooperation have an important place in Ukrainian-Canadian relations, and we would like to strengthen it. Therefore, our sides will work to expand the scope of the bilateral free trade area agreement to services and investments,” he said in Toronto on Tuesday at a joint briefing with Canadian Prime Minister Justin Trudeau after their meeting.
Zelensky said that in the near future these agreements will be translated into documents.
“This means that Ukrainian IT specialists and entrepreneurs from different industries will be able to better cooperate with Canada without leaving Ukraine. This means more jobs, better relations between our countries,” he said.

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UFUTURE AND INSOFT PARTNERS COOPERATE IN IT OUTSOURCING

Investment companies UFuture and InSoft Partners signed an agreement on strategic partnership in the IT industry and founded InSoft Software, a joint company that will specialize in IT outsourcing, the press service of UFuture has reported.
InSoft Software will develop software on a turnkey basis and provide software consultancy services.
“Today, InSoft Software is a majority shareholder in IT companies Lenal and Rozdoum, which it plans to expand rapidly through the development of a new marketing strategy and a series of international roadshows,” the investor said.
According to the report, the InSoft Software team has many years of experience working with tech giants like Ericsson, Telcordia, Chrysler, Samsung, DiGi, Avid, and BNP Paribas Group.
InSoft Partners will be responsible for market research and acquisition of IT companies, their subsequent consolidation, and strategic management and development.
In turn, UFuture will use its international relationship map to build new strategic partnerships and contribute to the organic growth of the business.
“The pace of Ukraine’s IT industry development is staggering. It has been demonstrating annual growth of 20-26% for quite a long time. These are billions in revenue. I am convinced that InSoft Software enters the market in time and will become one of the major players thoroughly contributing to the development of innovation and creative economy of our country,” the founder of UFuture, Vasyl Khmelnytsky, said.
The investment fund said that Ukraine has a very good reputation in the global IT community. More than 170,000 Ukrainian IT specialists work in startups and large companies around the world.
“Many well-known and ambitious brands, such as Grammarly, MacPaw, Readdle, PetCube, GitLab, People.AI, are the brainchildren of Ukrainian developers. More than 110 R&D centers owned by such leading international corporations as Microsoft, SnapChat, Samsung, ABBYY, have offices in Ukrainian cities,” UFuture said.
“We continue to see a great demand for software development services and we know how to transform the classic software development outsourcing model to get a margin that is significantly higher than the market average,” InSoft Partners Managing Parter Vitaly Gorovoy said.
UFuture unites companies and social projects of Khmelnytsky. The group includes the Bila Tserkva industrial park, the UDP development company, the Sikorsky Kyiv International Airport, outdoor advertising operator RTM-Ukraine, as well as innovative businesses: UDP Renewables (creates and develops photovoltaic power plants under its control), the pharmaceutical company Biopharma, innovative parks UNIT.City and LvivTech.City.
InSoft Partners is an investment managing company that invests in IT business and provides M&A advisory services. Among the company’s counterparties are the famous American investment fund, Oak Tree Capital Management, and FinPoint/Rothschild&Co. The first joint IT project of InSoft Partners and UNIT.City was X.Teams career center.

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