KYIV. Aug 10 (Interfax-Ukraine) – The Cabinet of Ministers has allocated UAH 450 million to the State Committee on Television and Radio Broadcasting for holding the international song contest Eurovision 2017.
The corresponding decision was taken at a cabinet meeting on Monday.
“To allocate UAH 450 million to the State Committee from the reserve fund of the state budget for funding preparatory events necessary for holding Eurovision 2017 in Ukraine,” First Deputy Prime Minister, Economic Development and Trade Minister Stepan Kubiv said at a government meeting.
KYIV. Aug 9 (Interfax-Ukraine) – Britain’s Active Energy has signed a Memorandum of Understanding with the regional government, relating to the management, development and sustainable commercialization of approximately 186,500 hectares of mature commercial forestry in northern Ukraine.
According to a report of Active Energy on the website of the London Stock Exchange (LSE), the document remains subject to contract and both parties are working towards completion as soon as practicable.
Active Energy, through its forestry management division AEG TimberLands, will work exclusively in introducing international forestry and environmental standards of sustainable forestry management to improve the value and yield of the forests.
This will be achieved through the implementation of more efficient logging practices and technologies and the efficient use of merchantable timber, which AEG WoodFibre can purchase for its processing operations at the Yuzhny port, near Odesa in Ukraine.
In addition, new commercial opportunities pursuant to the memo will allow increased utilization of forest waste, currently burnt in situ, for the production process of AEG CoalSwitch’s innovative fuel replacement product. Management envisage that a facility to manufacture AEG’s CoalSwitch product will be constructed close to the forestry, to create the supply of CoalSwitch to the region’s existing coal-fired power plants.
Ukraine’s State Agency of Forest Resources told Interfax-Ukraine that the agency was not the party of the memo.
“The Agency as a central executive power agency implementing the state policy in the area of forest and hunting sector does not sign memorandums of understanding with private companies that have the goal of getting profits,” the authority said.
The authority said that forest works and other measures aimed at balanced forest management in line with forest legislation is the privilege of economic entities.
The state agency said that it manages 73% of forests and 27% of them – to other permanent users, among which are central executive power agencies and regional councils.
“The Ukrainian forest sector really requires investment. The state agency believes it is not appropriate to transfer rights to mange the exploitation fund to foreign private companies, as this is not in line with the interests of the domestic forest products market,” the authority said.
As reported, Active Energy has 10-year contracts to buy wood and process it into fire wood chips (in Ukraine) and supply of products to energy facilities (in Poland). Liuboml forestry (Volyn region) supplied up to 100,000 of wood a year at the fixed price. Volyninvestbud makes fire wood chips from it at the fixed tariff and supplies up to 80,000 tonnes of finished products a year. Medium Sp. Z o.o. buys all products to deliver them to energy facilities in Poland.
The company’s shares are listed on the London Stock Exchange (LSE).
KYIV. Aug 8 (Interfax-Ukraine) – The Ministry of Regional Development, Construction, Housing and Utilities Services plans to create 75,000 jobs and reduce costs for housing subsidies by UAH 5 billion thanks to setting up the State Energy Efficiency Fund.
“We expect the further creation of 75,000 new jobs for the state and Ukrainian families, the reduction of spending on subsidies, for which the budget foresees UAH 42 billion,” Deputy Prime Minister, Minister of Regional Development, Construction, Housing and Utilities Services Hennadiy Zubko said at a press conference in Kyiv.
According to the official, the purpose of creating the fund is transformation of costs for subsidies into costs for the implementation of energy efficiency measures.
In addition, it is planned to annually reduce natural gas consumption by UAH 1.5 billion.
KYIV. Aug 9 (Interfax-Ukraine) – Ukraine’s Cabinet of Ministers at a Monday meeting approved a resolution on the creation of a register of organic food producers.
“Why do we need this register? The need in organic food is growing. There are more and more companies that are ready to sell this food. We are introducing the relevant register to protect the interests of Ukrainian citizens and foreign investors,” Ukrainian Agricultural Policy and Food Minister Taras Kutoviy said at the government meeting.
He said that the register will be published on the website of the State Service for Food Safety and Consumers’ Rights Protection of Ukraine. A copy of the organic production certificate is required to add information to the register.
“Information is added to the register within five working days after submitting a copy of the certificate to the State Service for Food Safety and Consumers’ Rights Protection,” the minister said.
He said that the creation of the register would stir up the organic food sector.
KYIV. Aug 9 (Interfax-Ukraine) – Ukrainian Prime Minister Volodymyr Groysman has called co-chairmen of the Group of Strategic Advisers on the Support for Reforms in Ukraine Leszek Balcerowicz and Ivan Miklos to take part in drafting a government package of bills to be ready for the start of the new session of Ukrainian parliament and aimed at stepping up the country’s economic growth.
“I asked our strategic advisors – Mr. Balcerowicz and Mr. Miklos – to join this work and make initiatives and proposals regarding required legislative changes that could be part of the government package to be ready for the start of the operation of Ukrainian parliament,” the press service of the Ukrainian government reported, referring to Groysman.
The prime minister said that the government is drafting a package of legislative initiatives aimed at stepping up economic growth in the country.
He said that small positive signals are seen in the Ukrainian economy, but this growth is not enough.
He also called on ministers to participate in drawing up the bill package jointly with the Group of Strategic Advisers on the Support for Reforms in Ukraine.
KYIV. Aug 8 (Interfax-Ukraine) – Ukrenergo in January-June 2016 saw a net profit of UAH 1.052 billion against UAH 523.215 million in net loss a year earlier.
According to the report, posted on the website of Ukrenergo, its net income during the period under review grew by 51.3% (UAH 962.578 million), to UAH 2.841 billion and gross profit increased by 90.5% (by UAH 881.107 million), to UAH 1.854 billion.
As reported, Ukrenergo operates trunk and interstate power grids, as well as performs the centralized dispatching of the united energy system in the country. The company is a state enterprise, and it is subordinate to the Ministry of Energy and Coal Industry.
