JSC Ukrzaliznytsia (Kyiv) and China Railway Construction Corporation (CRCC), the largest state-owned construction company in China, have signed a memorandum of understanding and cooperation. According to the press service of the Ministry of Infrastructure, the memorandum was signed by head of Ukrzaliznytsia Yevhen Kravtsov and member of the board Remigiusz Paszkiewicz from Ukraine and the deputy director general of CRCC from China.
According to the report, the Minister of Infrastructure noted that the signing of the document is an important stage of cooperation for the development of railway connection in the direction of Ukraine-China, attracting Chinese partners to modernize the Ukrainian railways and realize the transit potential of the country on the European Union-China route.
“The fact that the Chinese corporation decided to open a representative office in Ukraine and sign a memorandum of strategic cooperation indicates that the economic situation in the country is changing, the investment climate is improving, the largest foreign technology and manufacturing giants are interested in working in the Ukrainian market,” the minister said.
According to him, the ministry expects to restart and intensify the participation of Ukraine in the project One Belt – One Road, which will make it possible to fully realize the transit potential of the country in the continental cargo turnover.
CHINA, CORPORATION, RAILWAY CONSTRUCTION, REPRESENTATIVE OFFICE
Representatives of Germany’s Deutsche Bahn railway concern jointly with the Ukrainian government and JSC Ukrzaliznytsia are working on strategic partnership, the Center for Transport Strategies reported last week, referring to Deputy Director of the Center for Eastern European Studies in Berlin, ex-member of Bundestag Dmitry Stratievsky.
According to him, representatives of the German concern plan to visit Kyiv in the coming days.
“The alliance with Deutsche Bahn is interesting for Ukraine, first of all, with technologies and investments in updating the infrastructure. Undoubtedly, the leaders of the German market have something to share with their Ukrainian colleagues. Deutsche Bank and E.ON plan to join this process,” Stratievsky said.
SkyUp Airlines suspends its flights to the United Arab Emirates from February 1, 2020 due to the closure of the airspace over Iran and Iraq.
“From February 1, 2020, SkyUp Airlines suspends its regular flights to Sharjah (UAE) from Zaporizhia, Lviv and Kharkiv. This is connected with the prolongation of the ban on flights in the airspace over the Islamic Republic of Iran and the Republic of Iraq, which was introduced by the State Aviation Administration of Ukraine from January 9, 2020,” the company said on Friday.
SkyUp also said that bypassing of the territories of Iran and Iraq increases the duration of the flights and makes it necessary to make a stop to refuel the plane.
PJSC Donbasenergo by July 2020 plans to complete the introduction of the single automated system to manage the key assets of Sloviansk thermal power plant (TPP). The company said that the system allows general effectiveness of business management.
The natural obsolescence of the key production assets of the TPP, which celebrated its 65th anniversary last year, leads to an increase in the number of breakdowns, malfunctioning of the equipment fleet and, as a result, expenditure growth.
The implemented module of the plant’s resource management and statistical analysis will help reduce the number of restoration repairs. Based on the available scheduled preventive repairs statistics, the economic feasibility of using equipment is determined, a decision is made to continue the operation of the old equipment or purchase new one, the company said in the release.
Donbasenergo owns Starobesheve (located in the occupied territory) and Sloviansk TPPs with a total installed capacity of 2,880 MW, in particular Sloviansk TPP’s capacity is 880 MW. At the end of March 2017, the generation company announced the loss of control over the operation of Starobesheve TPP, as well as part of structural units located in the temporarily uncontrolled territory.
Turkey’s Onur group, engaged in construction and repair of roads and buildings, plans to build a multifunctional exhibition center with a hotel and business centers in Lviv. “We plan to build a complex in Ukraine with a hotel, a multifunctional exhibition center for 3,000 people, and several IT business centers. We want to place all this in one place on a good location in Lviv,” the head of the representative office and general coordinator of Onur Group, Emre Karaahmetoglu, said in an interview with Newsweek in the framework of the Ukrainian promo for the World Economic Forum.
He also mentioned the company’s plans to invest in the Ukrainian tourism sector.
According to the decree of Lviv City Council of September 19, 2019, a joint venture was established between the Agency for Resources of Lviv City Council and Onur Construction International LLC – Synergy Alliance LLC, and a land plot of 4.82 hectares worth UAH 105.9 million in Shyretska-Riashevska Street was transferred to it.
Zaxid.net reported, with reference to Onur’s investment analyst Olena Chepurnova, construction work will begin in 2020. Construction will take about two years, the cost of the project is $70 million.
Onur Construction International LLC (Kyiv) was founded in 2004.
The share of the shadow economy in Ukraine should decrease from 30% of GDP (according to calculations of the Ministry of Economic Development, Trade and Agriculture for 2018) to no more than 20% of GDP by 2025, according to Strategy of Ukrainian Financial Sector Development until 2025 approved by the regulators of the financial market on January 16. According to the document post on the website of the National Bank of Ukraine (NBU), the total volume of public debt for this period should decrease from 52.3% to no more than 40% of GDP, the deficit of public debt – from 2.1% in 2019 to 1.5% at the end of 2024. It is envisaged that the share of state-owned banks of the assets of the banking system over this period will decrease from 60.1% to no more than 25%.
The share of non-performing loans (NPL) in the banking system will decrease and will not exceed 10% of the total volume of loans (52.9% in 2019). At the same time, net loans in foreign currency of the total volume of net loans will decrease from 41.4% to no more than 30%, and deposits in foreign currency will not exceed 30% of the total deposits (41.7% in 2019).
The volume of net bank loans will increase from 16.5% to 22% of GDP, and the level of penetration of lending to SMEs – from 1.4% to 3% of GDP.
The cash (M0) and GDP ratio will decrease from 9.2% to no more than 7.5%. The share of banks issuing cards of the Prostir national payment system will increase from 21.5% to more than 70%, and the acceptance of Prostir payment cards will increase to more than 99%. The level of public confidence in the financial system will increase from 10% to 60% by 2025, the index of the level of financial literacy – from 11.6 to 12.5.
