Business news from Ukraine

Business news from Ukraine

BUDGET RECEIPTS FROM TOURISM FEE IN UKRAINE IN 2018 INCREASES BY 29%

Budget receipts from tourism fee in Ukraine in 2018 increased by 29.2%, to UAH 907 million, and taking into account tax payments the tourism industry raised payments by 20.7% last year, to UAH 4.2 billion, the Ministry of Economic Development and Trade has reported.
“This indicates an increase in the volume of domestic tourism flows and the effectiveness of implementation of the decentralization reform, namely local fiscal discipline improvement,” the agency said.
The ministry added there were also qualitative changes in the structure of foreign tourist flow to Ukraine in 2018. According to the ministry’s press release, the State Border Service recorded an increase in the number of tourists from the countries not bordering Ukraine, particularly Europe: from Spain by 68% Britain by 47.3%, Lithuania by 23.4%, Italy by 15.4%, Germany by 13.3%, and France by 9.2%.
The number of tourists from India over the past year rose by 57.4%, China by 38.8%, Japan by 38.3%, Israel by 21.7%, and the United States by 19%, while cross-border traffic, on the contrary, declined, the ministry said. According to the authority, this was achieved thanks to visa liberalization, and an increased offer of direct and low-cost flights.

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IN UKRAINE MANDATORY SALE OF FOREIGN CURRENCY FROM EXPORTS MAY BE CANCELLED

The National Bank of Ukraine (NBU) has stated the requirement for the mandatory sale of export earnings could be cancelled, governor of the central bank Yakiv Smolii has said.
“As market conditions develop, we think we’ll cancel this rule,” he said at a conference of the American Chamber of Commerce in Kyiv.
As reported, the National Bank of Ukraine in early February 2019 announced the decision to reduce the norm for the mandatory sale of export earnings from 50% to 30% from March 1.

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INTERNATIONAL DAIRY CONGRESS WILL BE HELD ON MARCH 5-6 IN KYIV

On March 5-6, the main event of the milk production market will take place at the International Exhibition Center (IEC).
The XII International Dairy Congress is the place, that every spring brings together more than 1,500 dairy business participants to discuss key industry issues. Among the invited this year there are:
– Industry experts: Andriy Dykun, the chairman of the Ukrainian Agri Council (UAC); Mikhail Sokolov, deputy chairman of the UAC; Hanna Lavreniuk, vice-president of the Association of milk producers (AMP); Andriy Yarmak, Investmant Officer for Food and Agriculture Organization of the United Nations (FAO), and others;
– – representatives of the Government: Olga Trofimtseva, acting Minister of Agrarian Policy and Food of Ukraine; Volodymyr Topchiy, Deputy Minister of Agrarian Policy and Food of Ukraine; Olena Alshanova, Head of the Department of Animal Husbandry Development, Ministry of Agrarian Policy and Food of Ukraine; Volodymyr Lapa, chairman of the State Service of Ukraine for Food Safety and Consumer Protection, etc.;
– representatives of the embassies of Austria, the Netherlands, France, Canada, USA, Israel and other countries.;
– representatives of international organizations: USAID, IFC, FAO, EBRD, etc.;
– People’s deputies: Ivan Miroshnichenko, Sergei Labasiuk, Tetyana Ostrikova, Olexander Bakumenko, Oleh Kulinich, Serhiy Leshchenko, Valeriy Davydenko, Nina Yuzhanina and others;
– owners and managers of the country’s leading farms;
– media representatives.
The main issues that will be discussed during the congress are:
Land market and animal husbandry.
State support of animal husbandry in Ukraine. What is needed for the sustainable development of the dairy industry?
The way to export through cooperation.
The transition to European standards of safety and quality of milk – milk ghetto or among world leaders?
Results of the national dairy industry and key areas of development for 2019.
World Milk Market and Ukrainian perspective: supply-demand balance, prices and cost, forecasts.
Not by milk alone: where to find additional reserves for dairy farm profitability?
Technologies of milk production and management of modern dairy farm.
This year, in addition to the usual exchange of experience, the Veterinary Conference “Veterinary provision of dairy farming” will take place at the Congress.
Congress organizers: Association of milk producers (AMP), Ukrainian Agri Council (UAC) and Dykun Company.

VEGA TELECOM OPERATOR HAS NET INCOME RISE IN 2018

Vega, a large Ukrainian telecoms operator, in 2018 received UAH 641.3 million of net income, which is 3.79% more than in 2017, the company has reported.
According to the operator’s press release, EBITDA reached UAH 164.9 million, which is 49% more than last year. Also, in 2018, the company managed to increase ARPU (the average revenue per user) by 20%, in particular, Internet access services using the FTTx connection technology by 28%.
During the reporting period, the subscriber base of Vega, as compared with 2017, increased in Voice VoIP (Voice over Internet Protocol) by more than 10%.
“Last year, we strictly followed the given strategic vector associated with the transition to modern services. This year, the company will continue to actively modernize its networks: replacing copper with optics, and digitizing its business, introducing new services based on digital technologies,” Vega CEO Murat Chynar said.
In 2018, the company’s capital investments remained at the level of 2017 and amounted to UAH 97.4 million.

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