The Ukrainian League of Industrialists and Entrepreneurs (ULIE), the largest business association in Ukraine, and Interfax-Ukraine News Agency are delighted to present you e-digest “Ukraine Open for Business”. This product is issued biweekly in English and covers key political and economic events in Ukraine.
KYIV. Feb 28 (Interfax-Ukraine) – Ukraine in January 2017 increased electricity exports by 61.9% (by 213.8 million kWh) compared to the same period in 2016, to 559.4 million kWh, a source in the Ministry of Energy and Coal Industry has told Interfax-Ukraine.
Electricity supplies from the Burshtyn TPP energy island in the direction of Hungary, Slovakia and Romania increased by 60.6% (by 161.6 million kWh), to 428.3 million kWh.
Electricity supplies to Poland rose by 68.9% (by 53.5 million kWh), to 131.2 million kWh.
Last month Ukrainian electricity was not exported to Moldova, Belarus and Russia, whereas exports to these countries in January 2016 amounted to 1.2 million kWh.
In addition, Ukraine in January 2017 imported 4.7 million kWh of electricity (from Russia 4.6 million kWh, Belarus 100,000 kWh) compared to 6 million kWh in January 2016.
As reported, Ukraine in January 2017 exported electricity worth $21.577 million, which is 53.5% more than in January 2016 ($14.056 million).
KYIV. Feb 28 (Interfax-Ukraine) – Public joint-stock company Sumy Machine-Building Science and Production Association (Sumy NPO) has signed contracts to supply a large batch of spare parts to pump equipment of four Ukrainian nuclear power plants (NPPs) – Khmelnytsky, Rivne, Zaporizhia and Yuzhnoukrainsk.
According to a report on the website of the association on Monday, the spare parts will be supplied to the customer in March through August 2017.
Sales Manager Olena Bala said that over 2,400 spare parts will be made.
Sumy Machine-Building Science and Production Association is one of the biggest producers in Europe of gas re-pumping units and outfitted compressor stations for various uses: centrifugal, vacuum, and chemical pumps, and centrifuges and other equipment for the chemicals gas and oil-refining industries.
KYIV. Feb 28 (Interfax-Ukraine) – The Ministry of Ecology and Natural Resources of Ukraine as of February 28 had received 44 applications for the construction of solar power plants in the Chornobyl exclusion zone, minister Ostap Semerak said at the annual Ukrainian Energy Forum, organized by the Adam Smith Institute.
“As of today we have 44 applications and the territories, which our colleagues requested, from 20 to 1,000 hectares for legalization of solar power plants,” the minister said.
He also noted the acceptance of applications will end on March 1.
According to Semerak, the European Bank for Reconstruction and Development will consider the issue of financing the construction of solar power plants in the Chornobyl zone.
KYIV. Feb 28 (Interfax-Ukraine) – The major pipe enterprises of Ukraine in January this year increased production of pipes by 42% compared to the same period last year, to 76,500 tonnes, while in December they manufactured 67,000 tonnes.
The Ukrtruboprom association told Interfax-Ukraine its enterprises in January 2017 increased pipe production by 44%, to 51,900 tonnes, in December making 44,700 tonnes.
Khartsyzsk Pipe Plant (Donetsk region), located in the ATO zone, in January 2017 made 900 tonnes of pipes, whereas in the first and last months of 2016 it was standing idle.
Pipe production at Interpipe Nyzhniodniprovsky Pipe Rolling Plant in the period rose by 41.9% compared to 2016, to 18,300 tonnes (15,300 tonnes in December), Interpipe Novomoskovsk Pipe Plant decreased output by 31.3%, to 4,400 tonnes (3,000 tonnes in December), while Interpipe Niko Tube raised production by 82.5%, to 25,000 tonnes (22,300 tonnes in December).
Dnipropetrovsk Pipe increased pipe production by 15.4%, to 1,500 tonnes, making 2,100 tonnes in December. Production grew by 13.3% at Centravis, to 1,700 tonnes of stainless pipes (1,400 tonnes in December).
Trubostal cut output by 50%, to 100 tonnes and Nikopol Steel Pipe Plant YUTIST was standing idle.
KYIV. Feb 27 (Interfax-Ukraine) – The National Bank of Ukraine (NBU) has permitted individuals to place currency income received abroad on accounts in foreign banks without a personal license of the Ukrainian central bank, the NBU has said on its website.
The amendments to the conditions of licensing of transactions of individuals who place funds on accounts abroad and invest outside Ukraine were approved by NBU resolution No. 14 amending some NBU acts. The resolution was issued on February 23, 2017.
The amendments took effect on February 25, 2017.
The personal license is not required for investing and reinvesting of these funds abroad, including for trade with financial tools on foreign exchanges and other transactions.
The possible income earned abroad could be salary, pension, dividends and inheritance.
The NBU said that regardless of the possibility of holding transactions abroad individuals are to declare income and pay taxes in Ukraine in line with Ukrainian law.
Personal licenses are required for transfer of funds from Ukraine abroad with the purpose of investment or depositing on foreign accounts.
