Business news from Ukraine

Business news from Ukraine

EUR 25 MLN GRANT TO BE PROVIDED TO UKRAINE TO DEVELOP DIGITAL ECONOMY, E-GOVERNMENT

The European Commission (EC) is preparing an international project of assistance to Ukraine in the amount of EUR 25 million for the development of the digital economy and e-government. The issues were discussed at a meeting of representatives of the EC with advisor to the President of Ukraine Mykhailo Fedorov in Kyiv on Wednesday.
“During the meeting, representatives of the European Commission reported on the preparation of an international project to assist Ukraine in the amount of EUR 25 million for the development of the digital economy and e-government, and also provided their recommendations for the “State in the Smartphone” concept. Key proposals related to the development of citizen identification, the introduction of an effective structure for managing… the implementation of ambitious tasks,” the press service of Ukrainian President Volodymyr Zelensky said.
In turn, Fedorov told about plans and prospects: “For us, we have very clear plans for the year and key performance indicators until 2024. The “State in the Smartphone” for me is when a Ukrainian can solve any life or business situation online in one click and preferably from a smartphone, when our citizen will forever forget what an official looks like and where he is, when Ukrainians will be able to actively participate in the development of the state through a smartphone.”
First Deputy Head of the State e-Government Agency Oleksiy Vyskub told EC representatives about the eBaby project, through which parents of newborns will be able to get 10 online services.
According to the press service, representative of the Support Group for Ukraine (SGUA) in the European Commission Frank Paul, representative of the Delegation of the European Union in Ukraine Martin Klaucke and Coordinator of the Public Administration Reform Sector of the EU Delegation in Ukraine Serhiy Ladny took part in the meeting at the president’s office.

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OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JULY 11

Official rates of banking metals from national bank as of july 11

One troy ounce=31.10 grams

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 11/07/19

National bank of ukraine’s official rates as of 11/07/19

Source: National Bank of Ukraine

EBA AGREES WITH PRESIDENT’S POSITION TO USE ELECTRONIC TIMBER ACCOUNTING SYSTEM NATIONWIDE

The European Business Association (EBA) shares the position of the office of the president regarding the introduction of a nationwide system of electronic timber accounting and stresses the need for all timber makers to join this system. “For a more efficient operation of the electronic timber accounting system, it is critically important that all timber makers are connected to it, regardless of the form of subordination,” Yevhen Kuzmenko, the manager of EBA committees, told Interfax-Ukraine.
He noted that the system shows all the data from logging to timber sale or accepting for processing: who is involved in timber logging and on the basis of what documents, the characteristics of timber, as well as to whom and at what price it was sold.
“This system has already been introduced in forestries subordinated to the State Forest Agency. But it does not apply to other forest users, such as state enterprises of the Ministry of Defense, the Ministry of Environment, municipal companies, and others. They, according to various sources, harvest from 17% to 27% of the total volume of timber,” the expert said.
According to him, this situation allows manipulating the origin of wood.

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ZELENSKY SUGGESTS TURNING CHORNOBYL ZONE INTO GROWTH POINT

President of Ukraine Volodymyr Zelensky has proposed turning the Chornobyl zone into one of the points of economic growth in Ukraine.
“Today I’ve signed a decree that will be the beginning of transformation of the exclusion zone into one of the growth points for new Ukraine,” he said at Chornobyl Nuclear Power Plant, where the ceremony of transferring a new safe confinement will take place.

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UKRAINE SEES 11% FALL IN FOREX EARNINGS FROM FERROUS METAL EXPORTS

Ukrainian metal companies saw a fall of 11.1% in foreign currency revenues from exports of ferrous metals in January-June 2019 year-over-year, to $4.797 billion.
According to customs statistics published by the State Fiscal Service, the share of ferrous metals of total income from exports was 19.6% compared to 23.21% from a year ago.
In June 2018 alone, receipts from ferrous metal exports amounted to $728.422 million.
In January-June 2018, Ukraine decreased imports of similar products by 4.5%, to $600.651 million including imports reaching $106.97 million in June.
In January-June 2018, Ukraine decreased metal products exports by 1%, to $534.622 million including June deliveries being $100.516 million. During this period, imports of metal products grew by 28.9%, to $528.524 million, including June imports worth $81.691 million.
As reported, in 2018 Ukraine saw its forex earnings from ferrous metal exports rise by 23.8%, to $9.937 billion. Ukraine saw imports of these products increase by 20.4%, to $1.367 billion.
Ukraine experienced a 23.8% rise in metal products exports, up to $1.11 billion. Metal imports grew by 19.9% last year, to $967.674 million.

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