Business news from Ukraine

Business news from Ukraine

UKRAINE MAY PURCHASE BRITISH TESTS AND VACCINES TO COMBAT CORONAVIRUS

Ukraine is exploring the possibility of using financial instruments of the UK Export Finance (UKEF) to purchase British tests and vaccines to combat the coronavirus (COVID-19) pandemic, Foreign Minister Dmytro Kuleba said.
“We are currently discussing the implementation of a joint project for the development of the Ukrainian fleet and related infrastructure. We are also exploring the possibility of using UKEF financial instruments to purchase British tests and vaccines in the fight against coronavirus infection. Another area is the possibility of using these resources for the construction of Europe’s largest onshore wind farm in Zaporizhia region (Zofia project),” the minister told Interfax-Ukraine, answering a question about the interest of Ukrainian-British projects in cooperation with UKEF.
Kuleba said that within the framework of the memorandum of cooperation between UK Export Finance and the Cabinet of Ministers signed on October 8, 2020, five priority areas have been identified: security and defense, infrastructure, agriculture, energy and healthcare. However, he said, collaboration is not limited to these industries.
“On December 10, representatives of the agency will hold a presentation of the available financing instruments and opportunities for cooperation with Ukrainian partners in the framework of the Ukrainian Investment Roadshow,” Kuleba said.
As Ambassador Extraordinary and Plenipotentiary of Ukraine to the United Kingdom of Great Britain Vadym Prystaiko said during an online briefing for Ukrainian exporters “Bilateral Trade between Ukraine and Great Britain after Brexit”, the mechanism of the UK Export will allow access to concessional lending at 2.5-4%.
“This is a GBP 2.5 billion loan agreement that allows access to concessional lending at 2.5-4% depending on the terms of the contract,” Prystaiko said at an online briefing organized by the Ukrainian Embassy in the United Kingdom of Great Britain and Northern Ireland and the Council of Exporters and Investors under the Ministry of Foreign Affairs of Ukraine. At the same time, the share of the British partner in such projects should be 20%, Prystaiko said.
He also said that although we are talking about imports, Ukrainian exporters will thus be able to obtain certain services, technologies or raw materials.

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UKRAINE EXEMPTS IMPORTED VACCINES FROM CORONAVIRUS DISEASE FROM VAT

The Cabinet of Ministers of Ukraine exempted imported vaccines from coronavirus disease from VAT.
The corresponding government decree, adopted at a meeting on Wednesday, includes a number of antibiotics and vaccines for the prevention of coronavirus disease (COVID-19) in the lists of drugs that are exempt from VAT, approved by Resolutions No. 224 and No. 225.
As Prime Minister Denys Shmyhal said at a government meeting, this decision will reduce the cost of imported vaccines for the prevention of COVID-19.

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UKRAINIAN MOBILE OPERATOR LAUNCHES LEGAL ADVICE SERVICE

The mobile operator Kyivstar has launched a service for subscribers to receive legal advice by phone or on the website – Lawyer Online.
According to the press service of the company, users of the service are offered legal advice on issues in family, inheritance, tax law, not related to doing business, in matters related to the ownership and use of a car, real estate, utilities. Documents that a lawyer helps to prepare are statements, contracts, claims, letters of attorney and others.
It is noted that the service has two subscription options – Lawyer Online Classic and Lawyer Online Unlimited.
Lawyer Online Classic provides for consultation on three issues and preparation of three transactions. The subscription price is UAH 30 per month. Lawyer Online Unlimited is an unlimited number of consultations and preparation of up to ten legal documents, the cost is UAH 50 per month.
The subscription cost is debited from the subscriber’s mobile account.
“Kyivstar is the first among mobile operators in Ukraine to offer its subscribers legal services remotely in situations that each of us may face in everyday life. Today, when communication, work, study go online, it is important for Kyivstar to provide its clients with a convenient way to receive the services necessary for a comfortable life. So, we have already launched applications for medical consultations – Doctor Online – and an application with workouts for home and gym – Fitstar,” Marketing Director of Kyivstar Pavlo Daniman said.
The service partner is Legal and Tax Advisers LLC, which provides advice in the field of law, taxation, audit and others.

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VOLUME OF CONSTRUCTION PRODUCTS PRODUCED BY TYPE IN JAN-SEPT OF 2020 (MLN UAH)

Volume of construction products produced by type in Jan-Sept of 2020 (MLN uah).


SSC of Ukraine

GREEN CARD PREMIUMS IN UKRAINE 29.8% DOWN, NUMBER OF CONTRACTS 45% DOWN IN TEN MONTHS

Accrued insurance premiums under Green Card international insurance contracts concluded by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-October 2020 decreased by 29.82% compared to the same period in 2019, to UAH 1.007 billion.
As the MTIBU reported on the website, the number of Green Card agreements concluded during this period fell by 44.99%, to 511,528.
At the same time, the amount of compensations paid on claims increased by 14.79%, to EUR14.3 million, while the number of claims paid by 6.61%, to 5,049.
The MTIBU is the only association of insurers that provide compulsory insurance of civil liability of land vehicle owners for damage caused to third parties.

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UKRZALIZNYTSIA INCREASES CARGO TRANSPORTATION IN NOV

JSC Ukrzaliznytsia for 29 days of November 2020 increased the volume of cargo transportation by Ukrainian railways in all routes compared to the same period last year by 7%, to 27 million tonnes.
According to the company’s website, in domestic traffic, the volume of cargo transportation by rail amounted to 13 million tonnes, which is 21% more than in November 2019.
According to the company, the average daily loading in November amounted to 788,500 tonnes, which is almost 8% more than in November 2019. On average, 12,100 cars were loaded on the railway per day, which is almost 7% more than last year.
For 29 days of November 2020, Ukrzaliznytsia accelerated the turnover of a freight car by 32.7%, to 7.76 days. The average daily sectional speed of a freight train increased by more than 5% and amounted to 35.3 km/h.
During 29 days of November, Ukrzaliznytsia also improved the operating performance of its locomotive fleet: the average daily run of a locomotive increased by 5.1%, to 451 km, and the average daily performance of a locomotive improved by 4.3% compared to last year, to 1.201 million tonne-kilometers gross.
The company noted that such indicators were achieved, first of all, due to improved dispatching, liquidation of the shortage of locomotives and transparent playing conditions in the transportation market.
“There is no longer a situation when someone at the station decides whether this or that cargo will go or not. Now all shippers are in equal conditions. Today we transport 100% of the declared cargo and there are plans only to increase the rate and volume of traffic,” the report says.
As reported, next year Ukrzaliznytsia plans to increase the share of its own cars on the market to 35-40%.

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