Business news from Ukraine

Business news from Ukraine

UKRAINE PRODUCES 900,000 TONNES OF SUGAR

Sugar production in Ukraine as of November 4, 2019 amounted to 909,580 tonnes.
According to the Ukrtsukor National Association of Sugar Producers, as of this date 31 sugar factories were operating in the country. To date, they have processed 6.17 million tonnes of sugar beets.
According to the information and analytical portal of the agro-industrial complex, as of November 1 farmers had harvested 7.8 million tonnes of sugar beets from 178,000 ha (81% of the forecast for the area) with the average yield being 43.8 tonnes per ha.
As reported, the sugar production season in Ukraine started on September 1. According to the estimates of Ukrtsukor, sugar production in the 2019/2020 season may reach 1.1-1.2 million tonnes.
Sugar production in the 2018/2019 season decreased by 15% compared with the previous MY, to 1.82 million tonnes.

DRAFT NATIONAL BUDGET OF UKRAINE PROVIDES UAH 15.1 BLN FOR CREATIVE INDUSTRY

Ukrainian Prime Minister Oleksiy Honcharuk has said that the draft national budget of Ukraine for 2020 provides UAH 15.1 billion for creative industry and culture development, which is UAH 2.8 billion more than in 2019.
“Next year we will stimulate mobility for children,” he said during the presentation of the 2020 draft national budget in Kyiv on Tuesday.
Honcharuk added that UAH 500 mln will be allocated for such programs.
In addition, UAH 240 million will be allocated for tourism infrastructure development.

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STATE-OWNED PIVDENNY PORT SEES 20% RISE IN CARGO HANDLING

State-owned enterprise Pivdenny maritime merchandise port in October 2019 handled 1.343 million tonnes of cargo, which is 34% and 19.8% more than in October 2018.
“The increase in cargo turnover is linked to an increase in the number of ships with ore, imported steam coal and grain processing products. So, 813,000 tonnes of cargo was exported, 349,000 tonnes were transit cargo, 182,000 tonnes – imported cargo. In October, the company processed 18,849 gondola cars, received and dispatched 18 vessels, “the port’s press service said.
According to the press service, in October, 57% of the Pivdenny port’s cargo transshipment was iron ore concentrate cargoes. In addition, 120,000 tonnes of imported coking coal and 46,000 tonnes of steam coal were handled.
The stevedore also handled over 41,500 tonnes of cereals and products made of them.
Pivdenny port was founded in 1978. It is the deepest one in Ukraine. The total length of the berths is about 2.6 km.

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UKRAINIAN PRIME MINISTER EXPECTS ECONOMIC LEAP FORWARD IN 2021

The Ukrainian economy will leap forward in 2021, while 2020 will be the year of preparations for this, according to Ukrainian Prime Minister Oleksiy Honcharuk.
“We expect this year to be the year of inventory and personnel renewal, and the next to prepare for the economic leap. We should launch the economy, should have new jobs and production,” Honcharuk said on Freedom of Speech program in the evening on Monday.
According to the head of government, in 2020, the number of civil servants will be reduced by at least 10%.
“But we anticipate the main savings thanks to IT tools, modern databases… We as a state now operate with terribly inaccurate data… Sometimes we, as a state, make decisions blindly. Next year we should have a database that shows for example, how many pupils, students we have,” he said.
He also added that a census planned for 2020 can also be done using online tools.
“Now we are looking for the opportunity of conducting a census as much as possible taking into account online tools, that is, to encourage people to fill out information about themselves online,” Honcharuk said.

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CITIZEN OF LITHUANIA BECOMES OWNER OF UKRAINIAN INSURER

Arunas Siksta, a citizen of Lithuania, has become the ultimate beneficiary owner of double liability company Guardian insurance company, the insurer has said in a press release. On September 24, 2019, the National Commission for Financial Service Markets Regulation of Ukraine in decree No. 1855 approved the acquisition of a substantial holding in Guardian insurer via indirect holding of 70% of shares of the charter capital of the financial institution.
Guardian has been working in the insurance market since 2007. It is a universal company that has 35 licenses issued by the National Commission for Financial Service Markets Regulation. The company has an extensive regional network and covers 21 regions of Ukraine.
Guardian is an associate member of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), a member of the Ukrainian Association of Automobile Importers and Dealers (VAAID), a member of the League of Insurance Organizations of Ukraine (LIOU).

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CONFECTIONARY CORPORATION OF FORMER UKRAINIAN PRESIDENT PLANS TO BUILD DAIRY FARM

The Roshen confectionary corporation (Kyiv) plans to build a dairy farm on the territory of Letychiv-Agro LLC (Khmelnytsky region) in 2021.
“Now we have a dairy herd of a little more than 1,000 heads. The average milking is 32 tonnes of milk per day. With the construction of the second farm, we will have 1,500 heads of the dairy herd, and the total livestock will be 3,000 head,” Roshen Corporation President Viacheslav Moskalevsky told reporters in Kyiv on Tuesday.
According to him, in 2020, it is planned to develop a project for the future dairy farm, in 2021 to begin construction.
As reported, the Antimonopoly Committee of Ukraine allowed Moskalevsky to acquire Letychiv-Agro LLC through PJSC closed non-diversified venture corporate investment fund Konditerinvest (Kyiv).
This acquisition will enable the corporation to increase its cattle livestock capacity.
The land bank of Letychiv-Agro is 4,000 hectares.
Roshen Corporation, one of the largest confectionery manufacturers in Ukraine, includes Kyiv, Kremenchuk (Poltava region) confectionery factories, two production sites in Vinnytsia region, Dairy Plant Bershadmoloko (Vinnytsia region), two production sites in Lipetsk region (Russia), confectionary facilities in Klaipeda (Lithuania), and Bonbonetti Choco factory (Hungary).

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