Business news from Ukraine

KYIV. Oct 9 (Interfax-Ukraine) – AXA Insurance has launched the Transparent Feedback innovative project allowing the company’s clients with voluntary car insurance or KASKO, obligatory insurance of civil liability of vehicle owners or OSAGO policies at once assess the quality of settling insurance events using 5 point-scale, the company has said in a press release.
AXA Group has become the first insurer in the world which launched the initiative of systematizing and publishing assessments and feedbacks of clients. Thanks to the global initiative of transparent feedback, AXA clients now can express their opinion and assess the products and services on the main websites of the group all over the world.
According to the results of the pilot project conducted in Ukraine from June through October 2017, AXA Insurance received 4.7 points from its clients and was awarded with silver quality mark. 92.7% of respondents positively assessed the operations of the company.
eKomi The Feedback Company, Europe’s premiere and largest independent provider of transaction-based reviews & ratings, administrates feedbacks for AXA Insurance. More than 14,000 companies leverage eKomi’s social commerce solution.
AXA Insurance is part of AXA international financial group (France), which has been presented in the insurance market of Ukraine since 2007.

KYIV. Oct 9 (Interfax-Ukraine) – Businessmen from Iran are interested in leasing of Ukrainian farmland for planting wheat, corn, soybeans, rapeseeds and other crops, according to a posting on the website of the Chamber of Commerce and Industry of Ukraine.
“Members of the delegation are interested in involvement in exterritorial agriculture – leasing of farmland for planting wheat, corn, soybeans, rapeseeds and other crops. The initial figure for leasing is 5,000 ha. The ambitious project is intended to provide the Persian Gulf market with agricultural products, as there is a high need in them on this market,” the chamber said after a meeting of its leaders with a delegation from Iran.
The sides also discussed the possibility of buying agricultural companies and create joint ventures with Ukrainian partners. In addition, Iran is interested in purchase of finished products.
The chamber said that a total of 40 companies with Iranian capital are registered in Ukraine now. The share of Ukrainian food exported to Iran exceeds 60% of their total exports. Currently Iran is the active importer of Ukrainian grain.

KYIV. Oct 9 (Interfax-Ukraine) – Head of the EU Delegation to Ukraine Hugues Mingarelli believes that improvement of business climate and rule of law is obligatory for attracting investment in the country.
“I insist on the fact that for us, tariffs and quotas are not the main obstacle to trade. The main obstacle today… are norms and standards… there is a need, obviously, to improve the business climate,” he said speaking at the 4th Kyiv International Economic Forum on Friday, October 6.
Mingarelli said that Ukraine has fantastic assets that are interesting for investors.
“Still any investor hesitates to invest in Ukraine. Why? Because the risks are too high. Which kind of risk? The risk which is linked to the absence of the rule of law,” the diplomat said.
The ambassador said that every week European companies in Ukraine face the harassment from law enforcement agencies and raids. European companies do not trust courts because of the high level of corruption in the justice.
“If we manage to establish a decent level of the rule of law in this country, foreign companies, including EU ones, will rush to invest in Ukraine, because Ukraine has so many assets,” he said.

KYIV. Oct 9 (Interfax-Ukraine) – The multi-sector holding OKKO Group, which includes the OKKO filling station chain (Galnaftogaz Concern), intends to import natural gas for the needs of own businesses and for selling it on the Ukrainian market, planning first supplies from Poland this month.
“The current liberalization gives us a chance of not only starting in this business successfully, but also becoming a noticeable player on the Ukrainian gas market,” OKKO Group Vice President Yuriy Kuchabsky said last week.
He said that the group wants to use experience accumulated during the imports of fuel in the new business and a large database of clients in Ukraine.
OKKO said that the company has received a license from the National Commission for Energy, Housing and Utilities Services Regulation (NCER) and held negotiations with potential suppliers.
OKKO seeks to switch to gas purchase directly at the European gas hubs in the future.
According to the press release, the group will offer a price package for natural gas and fuel. The company is mulling sales of gas via the ProZorro e-procurement system.
OKKO incorporates over 10 various businesses in production, trade, construction, insurance, servicing and other sectors.
The European Bank for Reconstruction and Development, Goldman Sachs, Horizon Capital, Renaissance Capital, Genesis Asset Managers, LLP and other companies are shareholders and institutional investors in the holding.

KYIV. Oct 9 (Interfax-Ukraine) – Mariupol Illich Steel Works (Donetsk region) has signed a contract with Primetals Technologies Austria GmbH to supply equipment for reconstruction of the 1700 slitting lines shop worth over $25 million.
The enterprise said in a press release last week that under the contract the Austrian partner will design the project’s engineering documents in details and in 2018 the equipment will be supplied. The equipment will increase effectiveness of the shop, improves the quality of the products and reduce waste in slabbing.
The startup works are scheduled for 2019.
Earlier in August 2017, Mariupol Illich Steel Works and Primetals signed a contract to design basic engineering documents for reconstruction of the slitting lines shop. Total investment of Metinvest in the project will be $85.5 million.
Since 2016, the sides are also implementing a project on building a continuous -casting machine worth $150 million.