Business news from Ukraine

Business news from Ukraine

DELTA WILMAR TO BUILD NEW BERTH AT YUZHNY PORT

The Ukrainian Sea Ports Authority and Delta Wilmar CIS have signed amendments to the memorandum and defined priority areas in implementing the next public-private partnership project at Yuzhny seaport.
According to the report on the agency’s website, it is planned that private investors will build new berth No. 37 in the port, a plant for processing soybeans, as well as storage and handling facilities for handling bulk agricultural cargo. The agency, in turn, will conduct dredging works to create an operational water area and an approach channel to the new pier.
According to the plans of Delta Wilmar CIS, the new plant for processing soybeans will have a capacity of up to 2,000 tonnes per day, a terminal for the accumulation and simultaneous storage of grain and meal for 40,000 tonnes.
Delta Wilmar CIS LLC was established in 2004. It specializes in the production of oil and fat goods and ingredients for bakery, confectionery and dairy products.

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TOURISM FEE RATE IN LVIV WILL BE 0.2-0.5%

Lviv City Council has set the rates of tourism fee at 0.2% to 0.5% of the minimum wage for Ukrainian and foreign tourists, depending on the cost of their accommodation. The rates will take effect on April 1, 2019.
According to the report on the website of Lviv City Council, the smallest rate of tourism fee is 0.2% of the minimum wage (UAH 8.4) and will be applied if payment for accommodation does not exceed UAH 350 per day.
If the cost of living is UAH 350-750 per day, the tourism fee will be 0.3% (UAH 12.5), UAH 750-1,200 per day some 0.4% of the minimum wage (UAH 16.7).
The rate for tourists who pay more than UAH 1,200/day for accommodation will be 0.5% of the minimum wage (UAH 20.86).
At the same time, Lviv City Council set equal tourism fee rates for Ukrainian and foreign tourists, the report says.
At the same time, it is noted that the rate of tourism fee for tourists living in the private sector is calculated on the basis of the cost of such property per day, regardless of the number of residents.

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UKRAINIAN DAIRY WILL BE EXPORTED TO OMAN

The State Service of Ukraine for Food Safety and Consumers’ Rights Protection and the competent authority of the Sultanate of Oman have agreed on the requirements for exports of Ukrainian dairy products to Oman, the press service of the Ukrainian agency has said.
According to information on the website of the service, Ukrainian manufacturers must provide a veterinary certificate, a certificate of origin of products and a certificate of tests for radiation.
According to the agency, the work on the promotion of Ukrainian dairy products to the markets of other countries of the Persian Gulf continues.
As reported, Ukraine in 2018 opened 85 export markets for various types of products and increased the number of enterprises that received the right to export food of animal origin. Some 126 national producers are allowed to export food to EU countries.

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UKRAINE HEADS WORLD TRADE ORGANIZATION PROGRAM FOR COLLECTION AND REPORTING OF STATISTICAL DATA

Ukraine has headed the Work Program on Collection and Reporting of Statistical Data of the World Trade Organization (WTO), the Ministry of Economic Development and Trade has reported.
“On February 25-27, 2019, for the first time in the history of its membership in the organization, Ukraine was elected the head of the Work Program on Collection and Reporting of Statistical Data within the framework of a meeting of the committee on the WTO Government Procurement Agreement,” the ministry said.
Prior to this, the program was headed by the United States, it said.
Among the main directions of the program, which were voiced by the Ukrainian delegation, is the development of a unified methodology for collecting and reporting public procurement data of the member countries of the Government Procurement Agreement, and further expanding the use of the Open Contracting Data Standard (OCDS) in the public procurement sector of the Organization for International Economic Cooperation.
Ukraine joined the WTO Government Procurement Agreement in 2016, as a result, Ukrainian companies received the right to participate in public procurement of 47 GPA member countries.
The total volume of the WTO government procurement market is estimated at $1.7 trillion annually.

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RETAIL PARKS DEVELOPMENT IN UKRAINE IS PROMISING BUSINESS – EXPERT

The development of retail park projects in Ukrainian regions is economically viable and promising, CEO of Arricano Real Estate Plc, the managing company and developer of some shopping and entertainment centers in Ukraine, Mykhailo Merkulov has said. “In a city with a population of 300,000-400,000 people there is no need for a three-story mall with an area of 50,000 square meters. We need to build a retail park on one floor with a ground parking area and entrance from the street. This will save on air conditioning, fire safety, that, in the aggregate, it incurs large infrastructure costs. If you look at Poland, the Czech Republic, Hungary, Romania, Serbia, Slovakia, it works successfully there,” Merkulov said in an interview with Interfax-Ukraine.
According to him, Arricano plans to significantly increase the volume of the portfolio of development projects in the coming years.
“Now we do not ride off in all directions, as we have our clear goal for the coming years. However, I think that in three years we will increase capacity and increase the amount of development, if not 10 times, then at several times for sure. The company needs to reach a certain level of income in order to attract financing on completely different conditions. We have a clear plan and a clear strategy on how to achieve this,” Merkulov said.

ASKO-MEDSERVICE INSURANCE COMPANY POSTS UAH 7.3 MLN NET PROFIT

ASKO-Medservice insurance company (Kyiv) in 2018 posted a net profit of UAH 7.254 million, while in 2017 its net loss was UAH 12.576 million, according to materials for the agenda of a general meeting of shareholders scheduled for April 19. The company’s assets last year increased by 2.3 times, to UAH 841.274 million.
The insurer also increased its net worth by almost 3.2 times, to UAH 416.231 million. Its charter capital has not changed and amounts to UAH 25.2 million.
The total debtor indebtedness of the company increased by 2.2 times, to UAH 240.418 million. Cash and cash equivalents rose by 70.9%, to UAH 92.991 million, long-term liabilities by 31.2%, to UAH 123.225 million, current liabilities by 2.2 times, to almost UAH 301.818 million.
ASKO-Medservice was founded in 1993 through the reorganization of ASKO-Zhytomyr Ltd. insurer. Its core business is transport and property insurance, insurance of vehicle owners’ civil liability, and other mandatory types of insurance.

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