Business news from Ukraine

Business news from Ukraine

UKRAINIAN MINISTRY FOR STRATEGIC INDUSTRIES LISTS AS PRIORITIES FOR 2021 INCREASE IN EXPORTS

The Ministry for Strategic Industries of Ukraine has identified five priorities in its activities for the current year, including increasing exports, the creation of two state-owned holding companies Defense Systems of Ukraine and Aerospace Systems of Ukraine as well as the Defense Technology Agency.
According to the message on the ministry’s website, two other priorities are rule-making and implementation of process of corporatization of Ukroboronprom enterprises, on the basis of which it is planned to form two new state-owned holdings.
Among the main documents that need to be approved this year, the ministry named the Strategy of development of the defense-industrial complex of Ukraine, the National target scientific and technical space program of Ukraine for 2021-2025, the State target scientific and technical program of development of the aviation industry of Ukraine for 2021-2030 and the National complex program of high science-intensive technologies as well as the State Defense Order for 2021.
Speaking about the Defense Technology Agency, the Ministry for Strategic Industries named the Defense Advanced Research Projects Agency (DARPA) of the U.S. Department of Defense as an example of such a department. “The mission of the agency will be to introduce scientific and technical solutions and new technologies to create modern types of competitive weapons and military equipment,” the ministry said.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 27/01/21

National bank of Ukraine’s official rates as of 27/01/21

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JANUARY 27

Official rates of banking metals from national bank as of January 27

One troy ounce=31.10 grams

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NATIONAL BANK OF UKRAINE TO LIQUIDATE MISTO BANK

The National Bank of Ukraine (NBU) on January 26 made a decision to revoke the banking license and liquidate Misto Bank (Odesa), according to the regulator’s website on Wednesday.
“The NBU, at the suggestion of the Deposit Guarantee Fund, made a decision dated January 26, 2021 No. 25-RSh to revoke the banking license and liquidate Misto Bank,” the message said.
As reported, on December 14, the NBU classified Misto Bank as insolvent due to a decrease in capital ratios by 50% or more from the minimum established level due to the loss of one of its main assets – a soybean processing plant in Kherson region, with a book value of over UAH 271 million, or almost 17% of all bank assets.
Misto Bank was founded in 1993. According to the NBU, as of January 1, 2020, the main shareholders of the financial institution were Fursin, who directly and indirectly owned 97.180668% of the bank’s shares, and Latvian citizen Igor Buimister with 1.811499%.
As of October 1, 2020, the bank ranked 53rd in terms of total assets (UAH 1.498 billion) among 74 banks operating in the country, the press service of the central bank said on Monday.

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HOSPITALITY AND CREATIVE INDUSTRIES IN UKRAINE LOSE MORE THAN UAH 83 BLN IN 2020

Ukrainian enterprises operating in the field of hospitality and creative industries lost more than UAH 83 billion in the nine months of 2020 due to the coronavirus pandemic, Kyrylo Kryvolap, the coordinator of the working group on the development of the National Economic Strategy until 2030, has said.
“These are actually the numbers that make up our GDP losses last year due to the impact of the coronavirus crisis,” Kryvolap said during a public discussion of the draft National Economic Strategy 2030.
He also clarified that in one weekend, the losses of these industries can be up to UAH 1-1.5 million.
“In this sector, there may be about 100,000 jobs at risk, including 50,000 self-employed,” the economist said.
Kryvolap also added that the recovery of these industries is slow due to the migration of labor to other, more secure areas.

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NAFTOGAZ LAUNCHES ENERGY GRANT COMPETITION

Representatives of the Naftogaz Group along with the Institute for Partnership and Sustainable Development, on Tuesday at Interfax-Ukraine, announced the start of the Development Energy Grant Competition for the selection of 50 projects of territorial communities and the allocation of UAH 100,000 to them.
“Communities need a modern and high-quality tool that will allow them to develop, to implement development projects that will contribute to the sustainable development of the community and the entire region. It is also interesting and important for us when our regions of production are developing in parallel with our company or at the level,” head of the regional development projects department of JSC Ukrgazvydobuvannia of the Naftogaz group Vitaliy Chudak said.
According to him, this issue is relevant today due to the completion of the processes of decentralization and the increase of local responsibility.
Chudak also said the projects should aim to achieve one of three sustainable development goals: good health and well-being, quality education and sustainable development of cities and communities.
“The common goal is the development of those communities with which we will work, setting benchmarks for other communities that will be familiar with successful implementation cases,” head of the NGO Institute for Partnership and Sustainable Development, project management and fundraising expert Daria Mustafina said.
According to her, this competition is a good example of introducing a close connection between business, government and society and their interaction for a common goal.
The organizers of the competition said that 242 communities from 11 regions of Ukraine are already participating in its first stage, which will last until February 20, of which 90 will move on to the next stage. Six months are allotted for the implementation of the winning projects, and the presentation of the finished projects is scheduled for the end of October 2021.

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