Business news from Ukraine

Kyiv International Economic Forum “Ukraine and the World in the New Economic Reality”

We are very honored to invite you to the Kyiv International Economic Forum, a major international conference focused on the future of economic development. It will take place on October 5-6 in Kyiv (Ukraine), under the patronage and with participation of the Prime Minister of Ukraine Volodymyr Groysman.
It is not just an event about or for Ukraine, but an innovative forum that covers the global agenda. KIEF has been envisioned to become a leading discussion platform at an intersection of civilizations based in the capital of the biggest country in Europe.
KIEF 2017 “Ukraine and the World in the New Economic Reality”‘ will be dedicated to the main challenges of the 21st century with focus on the 4th Industrial Revolution, digital and sharing economy, the new age in education and leadership, and sustainable and inclusive economic development.
Each year KIEF gains more and more recognition from the international community, and this year it is expected to congregate over 1,500 participants from business and politics, leading economic experts, social and opinion leaders from Europe, CIS, Asia, Middle East and North America. Over 100 outstanding speakers from more than 20 countries will gather to share their vision of substantial changes needed to enable new approaches to the global economic development.
To find out more about KIEF 2017, program and speakers and to participate in the event please visit and register at www.forumkyiv.org. Also, a short video report about KIEF 2016 is available online
If you have any questions do not hesitate to contact KIEF Organizing Committee: info@forumkyiv.org,+380 44 496 30 38
We look forward to welcoming you at the KIEF 2017!

HOLTEC TO START ACTIVE PHASE OF BUILDING SMALL REACTORS SMR-160 IN 2023 WITH POSSIBILITY OF LOCALIZATION IN UKRAINE

KYIV. Sept 11 (Interfax-Ukraine) – Holtec International (the United States) in 2023 will start the active phase of building small module reactors SMR-160, President of Ukrainian National Nuclear Generating Company Yuriy Nedashkovsky said at a ribbon-cutting ceremony for a new plant of the company in New Jersey (the United States).
According to a posting on the website of Energoatom, Nedashkovsky said that earlier President of Holtec International Chris Singh made a proposal to Ukrainian President Petro Poroshenko to create a hub in Ukraine to sell small module reactors to Europe, Asia and Africa with localization of production facilities and the large amount of equipment at Ukrainian enterprises.
Nedashkovsky said that Kharkiv-based Turboatom has turbines suiting SMR-160. There is a chance of attracting other Ukrainian enterprises to the project.
He said that the start of licensing of SMR-160 could start in 2018.
He said that SMR-160 reactors are rather cheap compared to more powerful reactors. They can be installed in small areas and do not require powerful lines. Nedashkovsky said that the need in SMR-160 after 2025 is estimated at $1 trillion.
“These reactors have an increased level of safety due to the fact that they use passive safety systems: that is it has no pumping equipment, reinforcement and other things which require external power supply,” the president of Energoatom said.
The plant, built by Holtec in New Jersey, is mainly focused on two spheres: production of container fleet for spent nuclear fuel, as well as vessels for small modular reactors of the SMR-160 project.

FISCAL SERVICES MARKETS WATCHDOG REGISTERS NEW INSURER DAR

KYIV. Sept 11 (Interfax-Ukraine) – The National Commission for Regulation of Financial Services Markets in Ukraine by its resolution dated September 7, 2017 included Dar insurance company (Kyiv) to the state register of financial organizations, the regulator’s website says.
According to the unified state register of legal entities and individuals, the founders of the company are Bureau of Business Technologies LLC (Kyiv), whose contribution amounted to UAH 35.993 million, and two individuals with the contributions of UAH 3,600.
The regulator notes the company will carry out risk insurance, reinsurance, agent and broker activities.

STATE FOOD-GRAIN CORPORATION TO SUPPLY UP TO 300,000 TONNES OF GRAIN TO CHINA’S CCEC BY LATE 2017

KYIV. Sept 11 (Interfax-Ukraine) – Public joint-stock company State Food-Grain Corporation has arranged the supply of several batches of grain crops in a total amount of up to 300,000 tonnes to China Complete Engineering Corporation (CCEC) by late 2017.
“In the past two months we held several meetings with representatives of China’s CCEC. Today, during the negotiation we discussed the potential of developing trade relations between our companies and the ‘uniqueness’ principles of our partnership. It has been arranged that several batches of grain, corn and wheat in the total amount of up to 300,000 tonnes will be supplied to CCEC by late 2017,” First Deputy Board Chairman of the corporation Vitaliy Shulezhko said.
As reported, China’s CCEC said that after reshuffling of top managers in State Food-Grain Corporation in May 2017 trade operations between the companies were suspended.
“Since May this year, due to some changes in the top managers of State Food-Grain Corporation, as a result of which the trade operations between the parties have almost stopped, the current agreed volumes of grain supplies will be difficult to observe. The new grain harvesting began, and we would urge the State Food-Grain Corporation to start a new seasonal grain trade in the shortest possible time and make every effort to promote the development of bilateral trade,” CCEC President Yang Jing said in a letter sent to the Agrarian Policy and Food Ministry.
In connection with the situation, the Chinese corporation expressed hope that the Agrarian Policy and Food Ministry will help “urging the State Food-Grain Corporation to return to normal business” in order to maximize the annual volume of trade.
The government in August 2010 decided to create the State Food and Grain Corporation of Ukraine. The corporation has a chain of branches, comprised of grain storage facilities, flourmills, fodder factories and a cereals factory. The 53 subdivisions of the corporation can store a total of 3.75 million tonnes of grain, which includes the grain handling capacities of Odesa and Mykolaiv ports of some 2.5 million tonnes of grain cargo per year.

AUTOHUB IN ODESA SEAPORT WILL ALLOW TO FULLY FORMALIZE CARS BROUGHT FROM ABROAD – FISCAL SERVICE

KYIV. Sept 11 (Interfax-Ukraine) – AutoHUB, a new service for convenient registration of vehicles purchased abroad, will open on Friday, September 8, at Odesa seaport, where the work of seven state and private institutions will be organized, including customs officers, border guards, various experts, as well as an insurance company, a bank and a branch of the service center of the Interior Ministry.
According to the State Fiscal Service, Prime Minister Volodymyr Groysman, acting Fiscal Service Head Myroslav Prodan, head of the Odesa customs Oleksandr Vlasov, Head of Odesa Regional State Administration Maksym Stepanov will participate in the opening of the AutoHUB.
According to the service, Odesa seaport this year has accepted about 300 vessels with containers, many of them with used cars from the United States and the UAE, as since 2016 such cars can be imported at significantly lower excise duty rates.
The development of the AutoHUB pilot project began in early summer this year on the initiative of Oleksandr Vlasov and representatives of the business community under the auspices of the governor and the acting Fiscal Service head.

Ukrenergo starts working under FIDIC contracts to buy electric equipment, design projects

KYIV. Sept 11 (Interfax-Ukraine) – National energy company Ukrenergo starts working under the FIDIC Yellow book contracts, which take into account the specifics of national legislation and the specifics of each facility when using the multi-level financing system that will ensure high-tech level of works with observation of terms.
“Work under typical FIDIC contracts shows that our facilities will meet global quality standards from technological point of view. This is also one of the elements of the new investment policy of the company aimed at improving organization approaches to construction,” the press service said, citing Director for Investment and Strategy Volodymyr Kudrytsky.
The Yellow book is contracts of the International Federation of Consulting Engineers (FIDIC) applied in international practice in supplies and assembly of electrical equipment, designing projects, construction and engineer works.
Ukrenergo operates trunk and interstate power transmission lines and provides centralized oversight of the integrated power grids. It is a state company run by the Energy and Coal Industry Ministry.