Business news from Ukraine

UKRAINE, POLAND DISCUSSING EUR 1.7 MLN PROJECT TO CREATE MUSEUM AND CULTURAL SPACE

KYIV. Aug 29 (Interfax-Ukraine) – Ukraine and Poland are discussing a project in museum and cultural cooperation with the cost of EUR 1.7 million that could be implemented within cross-border cultural cooperation, the press service of Deputy Prime Minister for European and Euro-Atlantic Integration Ivanna Klympush-Tsintsadze has reported.
During her working visit to Lviv Klympush-Tsintsadze met Chairman of Lviv Regional Council Oleksandr Hanuschyn, representatives of Lviv Regional Council and Lviv Regional Administration.
The interlocutors, in particular, discussed the possibility of creating a joint Ukrainian-Polish museum space within cross-border cultural cooperation. The project cost is EUR 1.742 million. With the European money support, this amount can be injected into preserving and promoting the joint Polish and Ukrainian cultural heritage, museum environment, a high-quality museum product and improving Ukrainian-Polish cultural communication,” the press service said.
In particular, the project provides for the restoration of the Korniakt Palace (Royal Kamienica or townhouse), the preparation for holding joint exhibitions, trainings and roundtables for museum workers in Lviv and Lublin, internships for restorers, and work on the strategy for development of cooperation between the museums of Lviv and Lublin.
The press service said that these measures are considered as part of the program of Poland-Belarus-Ukraine cross-border cooperation for 2014-2020. The total cost of the program is EUR 201.39 million, of which EUR 183 million are EU funds, which can be used to support projects.

GOVT TO FORESEE UAH 1 BLN TO SUPPORT FARMERS IN DRAFT STATE BUDGET FOR 2018 – GROYSMAN

KYIV. Aug 29 (Interfax-Ukraine) – Prime Minister of Ukraine Volodymyr Groysman has stated it is planned to foresee UAH 1 billion for a program to support farmers in the draft national budget for 2018.
“Separately, we will spend UAH 1 billion next year on targeted support to Ukrainian small farms,” the head of government said in an interview with the Ukrainian Radio.
According to the premier, the agrarian sector together with processing forms about 17% of GDP.
As reported, earlier Groysman announced the intention to increase financing for the program of partial compensation of the cost of Ukrainian agricultural machinery to UAH 1 billion in the draft national budget for 2018.

UKRAINIAN EXPORTS TO CANADA 76% UP IN JAN-JUNE 2017 – MYKOLSKA

KYIV. Aug 28 (Interfax-Ukraine) – Exports of Ukrainian goods to Canada in the first six months of 2017 amounted to $22.7 million, which is 76.3% more than for the same period in 2016, Ukrainian Deputy Minister of Economic Development and Trade Natalia Mykolska has said.
“The FTA agreement with Canada had begun influencing our economic relations before it entered into force. In the first six months of 2017 exports of goods to Canada totaled $22.7 million, which is 76.3% more than for the same period in 2016,” she said in an interview with Interfax-Ukraine.
She said for exports to Canada goods must pass certification, which differs from the European one.
The deputy minister drew attention to the fact that imports of Canadian goods to Ukraine is also reviving, particularly in the sphere of pharmaceuticals and seafood, light industry goods: special clothing, garments for cold weather and work clothes.

UKRAINIAN ENTERPRISES POST UAH 186.3 BLN PRETAX PROFIT IN JAN-JUNE 2017 – STATISTICS

KYIV. Aug 28 (Interfax-Ukraine) – Enterprises and organizations in Ukraine in January-June 2017 received a pretax profit from ordinary activities in the amount of UAH 186.3 billion, whereas in January-June 2016 they posted a profit of UAH 63 billion, the State Statistics Service has said.
According to its data, in the first half of 2017 enterprises that worked profitably received UAH 270 billion of profit, which is 44.2% more than in the same period in 2016.
At the same time, 67.4% of enterprises worked unprofitably: their losses for the six months of this year amounted to UAH 83.7 billion, which is 32.6% less compared to January-June 2016.
The service said the share of loss-making enterprises in Ukraine in the first half of this year decreased by 3.4 percentage points compared to last year, to 31.2%.

MOODY’S UPGRADES UKRAINE’S CREDIT RATING TO CAA2 WITH ‘POSITIVE’ OUTLOOK

KYIV. Aug 28 (Interfax-Ukraine) – The Moody’s Investors Service rating agency has upgraded Ukraine’s ratings in Ukrainian and foreign currency from Caa3 to Caa2 with a “positive” outlook.
The press service of the Cabinet of Ministers of Ukraine said Prime Minister of Ukraine Volodymyr Groysman, commenting on the agency’s decision, stressed this is a testament to the success of structural reforms in Ukraine.
“The key factors in the credit rating change upwards are the effect of structural reforms and the strengthening of Ukraine’s position in the world market. According to financial experts’ forecasts, the continuation of changes will improve the debt dynamics of our state,” the head of government said.
The premier stressed there is much work ahead in the political stability sector, the continuation of economic reforms, the strengthening of the foreign exchange rate and the overall strengthening of the economy.
According to him, the success of reforms, in particular at the macro level, will help cope with the forecasted debt load of 2019 and the subsequent years when Ukraine will have to repay the debts of the previous periods.

UKRAINE NEEDS TO RAISE COMPETITIVENESS IN DOMESTIC AND FOREIGN MARKETS, DEVELOP START-UPS – U.S. AMBASSADOR

KYIV. Aug 28 (Interfax-Ukraine) –U.S. Ambassador to Ukraine Marie Yovanovitch believes that Ukraine needs to develop competitiveness in the domestic and foreign markets and activate start-ups.
Speaking at the Inaugural Economic Forum “Supporting the Economic Development of Ukraine: Cooperation between Government and the Diaspora,” in Kyiv on Friday, Yovanovitch said they believe that an important element of enhancing the competitiveness of Ukraine’s economy is activating start-ups and increasing competitiveness in the domestic market.
The ambassador believes that now it is important to raise Ukraine’s competitiveness on the international market.