Business news from Ukraine

Business news from Ukraine

ZAKHIDNY BUG AGRI COMPANY FROM UKRAINE ENLARGES BANK LAND TO 53,000 HECTARES

Private enterprise Zakhidny Bug in Lviv region enlarged a bank land by 1,700 hectares, up to 53,000 hectares after purchase of the enterprise Hai Halychyny LLC.
As the company wrote on Facebook on Wednesday, now the company’s agrochemical laboratory is analyzing the soils to determine the crops for which the newly acquired territory will be the most favorable place to grow, and is also working over the recommendations for nutrition and protection of these crops. Afterwards, the soils will be prepared for cultivating new crops.
As reported, Zakhidny Bug acquired Hai Halychyny LLC, which provided the buyer with over 50% of the voting shares on the company’s board.
Zakhidny Bug, founded in 2003, is engaged in the cultivation, storage and sale of grain, industrial and feed crops. It rents nearly 53,000 hectares of landd in Lviv and Volyn regions, and since 2019 it also uses lands in Chernivtsi and Ternopil regions.
Hai Halychyny LLC is engaged in the cultivation of grain, legumes and oilseeds.

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UKRAINE APPROVES MANDATORY REQUIREMENTS FOR HONEY TO COME IN FORCE IN 2020

The Ministry of Agrarian Policy and Food of Ukraine has approved mandatory requirements for honey, which will come in force in six months, on February 6, 2020.
According to a report on the ministry’s website, its order No. 330 dated June 19, 2019 and officially published on August 6 harmonizes Ukrainian legislation with European legislation regarding honey requirements. The document will improve the regulatory framework for the labeling, production and sale of honey.
The ministry said that voluntary application of the approved requirements is envisaged until January 1, 2023, which will allow market operators to prepare for new requirements.
The document divides honey by origin into nectar (flower) and honeydew, by the method of production into honeycomb, honeycombs in honey, honey, centrifugalized and pressed honey.
The labeling requirements indicate that the package of honey should contain information about the country of origin, the label of honey for confectionery products along with its name it should be indicated that it is intended only for products to be processed.

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RIVER MALL SHOPPING AND ENTERTAINMENT CENTER IN KYIV

Vilna Ukraine news agency LLC (Kyiv), owned by the former owners of Aval Bank, on August 8 opened the new River Mall shopping and entertainment center with a total area of 140,000 square meters at 12 Dniprovska Embankment in Darnytsky district of Kyiv.
According to Colliers International (Ukraine), an exclusive broker of the shopping and entertainment center, its concept was developed by the Archpassage Ukraine architectural group together with the international architectural company ChapmanTaylor.
The rental area of the mall is 64,000 square meters. The complex includes a shopping center (55,500 sq m), multi-level ground and underground parking lots for 1,550 cars, as well as a business center and an aqua park. The co-owner of the mall, Serhiy Vovchenko, earlier told Interfax-Ukraine the opening of the water park is planned for summer 2020.
The Planet Kino cinema with an IMAX hall began operating in River Mall on August 1.
River Mall consists of five levels: three on the ground, with shops, a cinema and a food court, and two underground with a parking lot and a supermarket.

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LAND REFORM TO BE CONDUCTED IN UKRAINE THIS YEAR

Ukrainian President Volodymyr Zelensky has said that this year the land reform will be conducted in the country, which would allow creating the land market in 2020.
“This year we shall certainly conduct the land reform, which will allow creating the 40 million ha land market next year,” he said at the Ukrainian-Turkish business forum in Istanbul on Thursday.

PRESIDENT OF UKRAINE SIGNS LAW ON GREEN LICENSE PLATES FOR ELECTRIC CARS

President of Ukraine Volodymyr Zelensky has signed law No. 10405, which introduces green license plates for electric vehicles, as well as streamlines the issues of movement, parking and charging electric vehicles by amending traffic rules and state construction regulations.
According to the website of the Verkhovna Rada, the law was returned with the signature of the president.
According to the text of the document, the Interior Ministry, the Ministry of Economic Development and Trade, the Ministry of Regional Development, Construction, Housing and Utilities Services, the Ministry of Health and the State Emergencies Service are obliged within six months from the date of publication to establish requirements for the design of parking space for electric cars: introduce the road signs “For electric vehicles,” “Except for Electric Vehicles,” “Electric Vehicle Charging Station,” as well as introduce license plates for electric vehicles with a green font.
Stopping or parking a car in a place for electric vehicles, as well as creating obstacles for electric car drivers in stopping or parking entails a fine of 20 to 30 non-taxable minimum incomes, while parking inspectors are given the right to detain the offender’s car, including with the help of a tow truck.
The described changes will enter into force on January 1, 2020.

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UKRAINE CUTS IMPORTS OF NICKEL ORE

Ukraine in January-July 2019 decreased imports of nickel ore and concentrate in natural terms by 15.5% compared to the same period in 2018, to 753,532 tonnes.
According to customs statistics released by the State Fiscal Service, in monetary terms nickel ore imports fell by 15.4%, to $36.866 million.
At the same time, imports were made from Guatemala (50.54% of deliveries in monetary terms), and Indonesia (49.46%).
Through the seven months of 2019, Ukraine exported 7,999 tonnes of nickel ore for $312,000 to Greece, while it did not export and re-export these products over the same period a year ago.
As reported, Ukraine in 2018 increased imports of nickel ore and concentrate in natural terms by 10% compared to the same period in 2017, to 1.445 million tonnes, in monetary terms imports rose by 8%, to $69.325 million. Imports were made from Guatemala (67.88% of deliveries in monetary terms), and Indonesia (32.12%).
Pobuzke Ferronickel Combine (part of Solway Group) imports nickel ore to Ukraine.
The plant processes about 1.2 million tonnes of ore a year.

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