Business news from Ukraine

UKRAINE AND UNITED ARAB EMIRATES AGREE TO FACILITATE IMPLEMENTATION ENERGY EFFICIENCY INVESTMENT PROJECTS

The State Agency on Energy Efficiency and Energy Saving of Ukraine and the Ministry of Energy and Industry of the United Arab Emirates (UAE) have signed a memorandum of understanding on energy efficiency and renewable energy. “By cooperating, we will exchange experience and promote the implementation of joint investment projects in the field of energy efficiency, clean energy and garbage processing,” the press service of the Ukrainian agency on Saturday quoted its head, Serhiy Savchuk, as saying.
The State Agency on Energy Efficiency and Energy Saving of Ukraine says that the UAE is one of the most developed countries of the Persian Gulf, which has set the task to achieve at least 44% of “clean” energy in the country’s overall energy balance by 2050.
In addition, the International Renewable Energy Agency (IRENA) whose charter Ukraine has joined is located in Abu Dhabi, the capital of the UAE. What is more, the world’s largest solar park is being built near Dubai. Its projected capacity by 2020 is 1 GW, and 5 GW by 2050.

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SWEDISH OWNER OF THE CLOTHING CHAIN H&M WILL OPEN SECOND STORE IN UKRAINE IN OCTOBER

The Swedish owner of the clothing chain Hennes & Mauritz AB (H&M) will open a second store in Ukraine in October, H&M’s Ukraine Country Manager Dominique Fantaccino has said. “The first store with an area of 3,000 square meters will be opened tomorrow August 18 at Lavina Mall, and the second one at Sky Mall in October. We are sure that Ukraine is a large market and we will explore other locations in Kyiv and other big cities,” she said at a meeting with the press on Friday.
According to H&M CEO Fredrik Olsson, the company is also considering opening street retail outlets in Ukraine.

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UKRAINE’S MAJOR PIPE ENTERPRISES INCREASES PRODUCTION BY 8.2%

Major pipe enterprises of Ukraine in January-July 2018 increased production of pipes from ferrous metals by 8.2% compared to the same period in 2017, to 646,600 tonnes, including 104,000 tonnes in July. The Ukrtruboprom association told Interfax-Ukraine that the enterprises incorporated in the association for the seven months of the year increased the production of pipes by 19.9%, to 477,500 tonnes, including 72,900 tonnes in July.

UKRSADPROM ASSOCIATION ASKS CABINET TO RAISE FUNDING FOR VITICULTURE, HORTICULTURE DEVELOPMENT

The Ukrsadprom association has appealed to the Cabinet of Ministers and the Ministry of Agrarian Policy and Food with the request to increase funding of the program for the development of viticulture, horticulture and hop growing by the end of this year to meet the demand of farmers.
“Ukrsadprom records an extremely high demand on the part of gardeners for state support, the peak of which will be in the autumn planting season. And it is clear today that the demand of gardeners will significantly exceed the supply of existing support,” the association’s press release said.
In this regard, according to the decision of the association council of August 11, 2018, an appeal was sent to the Cabinet of Ministers and the Ministry of Agrarian Policy and Food by the end of this year to increase funding for the program to meet the demand of farmers and expand the list of priority directions of state support, adding articles related to storage and pre-sale preparation of grown products.
“Considering high demand on the part of gardeners for participation in the support program, as well as the need to attract modern technologies to the industry and ensure sustainable development, Ukrsadprom suggests significantly increasing the amount of financing for the program in 2019 to ensure the rapid introduction of storage and pre-sale preparation facilities for Ukrainian fruits and berries,” the association said.

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