Business news from Ukraine

Business news from Ukraine

KHARKIV BEARING PLANT RESUMES DELIVERIES TO LITHUANIA

KYIV. April 14 (Interfax-Ukraine) – Kharkiv Bearing Plant (HARP), part of UPEC Industrial Group, has resumed deliveries to Lithuania and plans to expand supplies, taking into account the increasing number of dealers in this country, UPEC’s press service has reported.
“The Lithuanian market is very promising for us. Many agricultural machines produced in the Soviet Union are being used there. And many agrarians prefer choosing agricultural machinery manufactured by reliable producers from CIS countries rather than foreign producers,” the press service said citing manager for foreign economic activity Olena Sviachenko.
The UPEC press service told Interfax-Ukraine the last time HARP delivered its products to Lithuania in 2015.
HARP presented a wide range of products at the “Ka pasesi…2017” exhibition held in Lithuania on March 30-April 1, during which the company specialists negotiated with local dealers that are ready to supply the plant’s products to the Baltic market.
According to Sviachenko, currently HARP products in Lithuania are represented by JSC IGNERA, with which a contract for cooperation was signed in March 2017.

BITFURY TO CREATE NEW DATA STORAGE SYSTEM FOR UKRAINE BASED ON BLOCKCHAIN TECHNOLOGY

KYIV. April 14 (Interfax-Ukraine) – Ukraine’s Cabinet of Ministers has entered into arrangements with U.S. Bitfury Group to create the e-Governance system on a Blockchain platform for Ukraine.
According a posting on the company’s website, the main areas of partnership being explored for the pilot project are using Blockchain in national registers, public services, social security, public health and the energy sector. Once the pilot is complete, the program will expand into all other areas, including cybersecurity.
“Blockchain technology, among other benefits, will help improve the protection of state-managed databases against unauthorized interference, reduce cost to citizens, improve overall efficiency, improve investment in Ukraine, and help reduce corruption across the board,” the company said.
Head of the State Agency for eGovernance of Ukraine Oleksandr Ryzhenko signed the memorandum with Bitfury.
“We understand that there’s no alternative way instead of bringing to public services latest technologies. Blockchain has proved itself as a good ground for cost reduction, government efficiency & transparency to help reduce corruption,” Bitfury Group CEO Valery Vavilov said.
He said that partnership with the Ukrainian government is about making the lives of the Ukrainian people better.
“The Blockchain is a transformational technology that is easy to use, inexpensive, and much more secure than current systems,” he said.

NESTLE INVESTS UAH 400 MLN IN PRODUCTION IN UKRAINE IN 2016

KYIV. April 14 (Interfax-Ukraine) – Nestle, a large food producer, invested UAH 400 million in production facilities in Ukraine in 2016, Nestle Director for Ukraine and Moldova Ansgar Bornemann has said at a press conference.
“Total investment in Ukraine last year was UAH 400 million,” he said.
Bornemann said that investment grew compared to 2015. This is linked to investment of UAH 150 million in a new waffle production line at Lviv confectionary factory Svitoch.
He said that on average when no capital investment projects are implemented investment totals some UAH 150 million.
He also said that the share of Ukrainian raw materials at three factories in Ukraine is 75-80%.
Switzerland’s Nestlе started operating in Ukraine in 1994 when it opened a representative office. The company markets the following international brands: NESCAFÉ, Nesquik, Nuts, Friskies, KitKat, and others.
Nestle in Ukraine unites Lviv confectionary factory Svitoch, Nestle Ukraine LLC, PrJSC Volynholding (the Torchyn brand) and Technocom LLC (the Mivina brand).

POROSHENKO APPROVES RATIFICATION OF AGREEMENT ON TECHNICAL, FINANCIAL COOPERATION BETWEEN UKRAINE AND NORWAY

KYIV. April 14 (Interfax-Ukraine) – President of Ukraine Petro Poroshenko has signed the law of Ukraine “On Ratification of the Agreement between the Cabinet of Ministers of Ukraine and the Government of the Kingdom of Norway on Technical and Financial Cooperation” adopted by the Verkhovna Rada on March 22.
The document creates framework, organizational and legal bases for Ukrainian-Norwegian cooperation in attracting and using international technical assistance, and promotes the development of technical and financial cooperation between the two states, the presidential press service said.
The corresponding agreement was signed in Oslo on October 18, 2016 during the official visit of Poroshenko to Norway.

SAP TO INVIGORATE ERP FOR UKRAINIAN SMALL AND MEDIUM BUSINESSES

KYIV. April 13 (Interfax-Ukraine) – Germany’s SAP SE, the world’s largest producer of software for enterprise management, has announced it will invigorate activities in enterprise resource planning (ERP) solutions for small and medium-sized businesses in Ukraine.
Together with its partner BDO in Ukraine the company announced the launch of a new product in the market of the country – a localized version of the SAP Business One solution.
“We have been working in this segment with big business for a long time, but we understand that small and medium-sized enterprises need different software: easier and faster to implement, easier to understand and cheaper, therefore we created the SAP Business One solution and today we represent this system with Ukrainian localization,” Head of SAP Business One in Central and Eastern Europe Christian Ecks said at a press conference in Kyiv.
According to SAP Managing Director in Ukraine and Georgia Maksym Matiash, BDO in Ukraine was engaged in the adaptation of the financial and accounting module to national standards and legislation, it is now the main partner of the company for the development and promotion of the product in Ukraine.
Currently, BDO has launched the Academy SAP Business One course to train professional consultants, is developing a partner network and plans to open several more regional offices.
SAP SE is one of the world’s leaders in the corporate applications market. More than 345,000 customers use SAP solutions and services. The company entered the Ukrainian market in 1995. Its customers are more than 250 state organizations, as well as enterprises of oil and gas, energy, and metallurgical sectors. The national office of the company employs more than 100 people.