Business news from Ukraine

Business news from Ukraine

SEVERAL COMPANIES FROM UAE INTERESTED IN CONSTRUCTION OF MARINA AND LARGE PORT IN UKRAINE

Several companies from the UAE are interested in building a marina in Odesa, as well as port infrastructure, Ukrainian President Volodymyr Zelensky said at a press conference on Monday.
“There is a question of ports. They [companies from the UAE] are professionals. They are now in our market. We are talking about a large project – the construction of a large marina in Odesa and a large separate port. And one of the companies we met will be in Ukraine this week, and we will talk specifically about river transport, in which they are professionals and are ready to build river ports,” he said.
According to the president, he discussed these issues with representatives of large companies from the UAE during a meeting with business as part of his trip to the UAE.
Zelensky also said that river transportation is the cheapest in Ukraine, while it can be a profitable industry for both business and the budget.
As reported, the UAE plans to increase the turnover of agricultural products with Ukraine tenfold and bring this figure to $2 billion per year.

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ABOLITION PAYMENT OF VAT ON DOMESTIC AIR TRAFFIC WILL HELP UKRAINIAN AIRLINES DEVELOP

Abolishing the payment of value added tax (VAT) for domestic air transportation will create positive conditions for the development of domestic airlines and revitalize regional air traffic, Deputy Head of the President’s Office Kyrylo Tymoshenko has said.
“We have goals to abolish VAT on domestic air transportation. This is an important topic. After all, it will help the development of Ukrainian airlines – not only state ones, but also private ones,” he said during the “Ukraine 30. Infrastructure” forum.
According to the official, this year the creation of a state air carrier can be completed and Ukraine will receive an understandable state national air carrier that will be able to solve not only tourism issues, but also state issues.
At the same time, Tymoshenko recalled that in the spring of 2020, at the beginning of the COVID-19 pandemic, it was necessary to involve private airlines in the evacuation of Ukrainian citizens from other countries.
“All this will be decided by a large national air carrier, which, I hope, will become known to the whole world,” he said.

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PRESIDENT OF UKRAINE: POWERFUL SYSTEM OF INDUSTRIAL PARKS TO BE BUILT IN UKRAINE

Ukraine is working to solve the problem of high-tech development and intend to build a powerful system of industrial parks in every region of the country, said President of Ukraine Volodymyr Zelensky.
“We have an important and ambitious goal for the development of industrial parks. This is a world-wide principle of organizing industry, which is an effective tool for attracting investment,” Zelensky said during his speech at the “Ukraine 30. Infrastructure” forum on Monday.
He recalled that currently there are 46 industrial parks in Ukraine, but “most of them are on paper, without the necessary infrastructure, without communications, without roads.”
Zelensky also noted that the construction of social infrastructure facilities throughout the country is now actively continuing.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 22/02/21

National bank of Ukraine’s official rates as of 22/02/21

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF FEBRUARY 22

Official rates of banking metals from national bank as of February 22

One troy ounce=31.10 grams

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METINVEST INCREASES TAX PAYMENTS IN 2020

The Metinvest Group, taking into account associated companies and joint ventures, transferred UAH 22.1 billion in taxes and fees to budgets of all levels in 2020, which is 5% higher than the level of the year before last.
According to a Friday press release of the company, the largest payment of the group’s total payments was income tax. Last year, Metinvest enterprises paid more than UAH 5.2 billion of this tax to the treasury, which is one third less than in 2019.
This is followed by a single social security contribution, the payment of which increased by 18% compared to 2019, to UAH 5.2 billion.
Metinvest enterprises last year transferred UAH 4.7 billion of personal income tax to the budgets, which is 17% more than in 2019.
In addition, the sources of receipts of the state and local budgets in 2020 were the payment for the use of subsoil in the amount of UAH 2.2 billion, the environmental tax of UAH 789 million and the land fee of UAH 713 million.

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