Business news from Ukraine

Business news from Ukraine

MILKILAND’S CHEESE FACTORY PERMITTED TO EXPORT DAIRY PRODUCTS TO EU

KYIV. Sept 25 (Interfax-Ukraine) – Akhtyrka cheese factory (Sumy region), part of Milkiland Group, the dairy group with assets in Ukraine, Russia and Poland, has been permitted to export dairy products to the European Union (EU), the State Service for Food Safety and Consumer Protection has reported.
According to a posting on its website, at present, 287 Ukrainian enterprises are permitted to export its products to the EU, including 107 food producers, in particular, poultry, fish, honey, eggs, milk and dairy products companies.
Some 180 nonfood producers can export products of animal origin like feathers, skins, fodder, nonfood sub products, pedigree materials and other nonfood products of animal origin.

KHARKIV ECONOMIC FORUM IS ONE OF DRIVERS FOR DEVELOPMENT OF SUCCESSFUL EUROPEAN UKRAINE – POROSHENKO

KYIV. Sept 25 (Interfax-Ukraine) – President of Ukraine Petro Poroshenko has noted the ninth International Economic Forum “Innovations. Investments. Kharkiv Initiatives” is a platform for an open dialogue between the authorities and business.
“The traditional annual forum is a significant economic event in the east of Ukraine, which attracts a large number of public authority heads, experts, diplomats, representatives of international organizations and funds. Every year it provides businesses with the opportunities for finding new investment and trading partners. The Kharkiv forum is a platform for an open dialogue between government and business, for establishing contacts between investors and enterprises seeking funds to implement innovative ideas and expand production,” Poroshenko said.
He noted in his message to the Verkhovna Rada he spoke about the scenario of the country’s development in the context of “Successful European Ukraine of Successful Ukrainians.”
“I am sure that the forum is one of the drivers for implementing this scenario,” the president added.

UKRAVTO CORPORATION COULD ENTER TRACTOR MARKET WITH SOUTH KOREAN LS TRACTORS

KYIV. Sept 25 (Interfax-Ukraine) – The UkrAVTO Corporation, the leading player on the Ukrainian automobile market, is studying consumer demand on tractors of South Korea’s LS, which has not yet been presented in Ukraine, the corporation’s press service reported last week.
According to the report, UkrAVTO presented these tractors at the AGROEXPO 2017 exhibition held in Kropyvnytsky.
“The growing popularity of agricultural forums indirectly indicates that agriculture and the agro-industrial complex are beginning to recover, therefore, UkrAVTO has presented a range of LS tractors for the purpose of studying demand,” the press service said.
The company said that this step looks completely logical and justified, since the agricultural sector begins to show upward pace and has a great potential and prospects for larger development.
“Considering that this is a new brand for the Ukrainian market and this machinery was not presented earlier, the tractor sphere will become a “test ball” for assessing the reaction of potential customers,” UkrAVTO said.
The press service told Interfax-Ukraine that the corporation has not yet announced the information, whether the distribution contract has been signed with the South Korean LS, and other details of cooperation.
MILKILAND’S CHEESE FACTORY PERMITTED TO EXPORT DAIRY PRODUCTS TO EU
KYIV. Sept 25 (Interfax-Ukraine) – Akhtyrka cheese factory (Sumy region), part of Milkiland Group, the dairy group with assets in Ukraine, Russia and Poland, has been permitted to export dairy products to the European Union (EU), the State Service for Food Safety and Consumer Protection has reported.
According to a posting on its website, at present, 287 Ukrainian enterprises are permitted to export its products to the EU, including 107 food producers, in particular, poultry, fish, honey, eggs, milk and dairy products companies.
Some 180 nonfood producers can export products of animal origin like feathers, skins, fodder, nonfood sub products, pedigree materials and other nonfood products of animal origin.

PRESIDENT CALLS ON CANADIAN BUSINESS TO INVEST UKRAINE

KYIV. Sept 25 (Interfax-Ukraine) – Ukrainian President Petro Poroshenko has met with Canadian business representatives as part of his working visit to Canada and invited them to Ukraine, the press service of the head of state reported on September 23.
“We are doing all we can to make the ties between our countries closer. Earlier, Canadian Ukrainians invested in Ukraine to support the economy, and now the entire Canadian business is ready to come [to Ukraine]. I want to tell you – now is the right time and place for investment,” he said, adding that Ukraine has great potential.
Poroshenko recalled that Ukraine had completed the placement of Ukrainian sovereign bonds worth $3 billion several days ago.
“This is a good signal of investor confidence in Ukraine and the reforms that are being conducted,” he said.
The head of state spoke about changes in Ukraine, in particular, anti-corruption steps, the introduction of electronic declarations and the latest reforms implemented by the Ukrainian authorities.
The president drew attention of Canadian businessmen to the assessments of international financial organizations, which say that over the past three years Ukraine has done more than in the previous 20 years.
“A number of Canadian companies operating in the field of energy, agriculture, defense and finance, and the aircraft industry have shown significant interest in the Ukrainian market, especially in the context of the introduction of free trade with Ukraine,” reads the report.

POROSHENKO: INVESTORS VOTE WITH THEIR MONEY FOR UKRAINIAN REFORMS

KYIV. Sept 22 (Interfax-Ukraine) – Ukraine’s President Petro Poroshenko regards the successful placement of Ukrainian eurobonds on the international markets as a show of economic support for reforms conducted by the country.
After a meeting with U.S. President Donald Trump in New York on Thursday, the Ukrainian president said he had discussed with his American counterpart in detail the economic cooperation between the two states.
“It’s nice to note the success of the first placement of Ukrainian sovereign bonds on international markets and the high demand for Ukrainian securities. Investors are voting for the success and belief in Ukrainian reforms with their dollars. I was pleased that a large number of these investors were American companies,” Poroshenko said.
He noted that such companies as Goldman Sachs and JP Morgan organized the deal.
“And this is also a form of belief and confidence in the success of Ukrainian reforms – not only from the U.S. authorities, but also from American business,” Poroshenko stressed.

GOVERNMENT APPROVES PLAN OF MEASURES ON IMPLEMENTATION OF CYCLONE 4 PROJECT

KYIV. Sept 22 (Interfax-Ukraine) – The Cabinet of Ministers of Ukraine has approved a plan of measures to resolve problem issues and ensure the implementation of the project on the creation of the Cyclone 4 rocket and space complex with a new foreign partner to replace Brazil that left the project in 2015 at the final stage of the project.
The respective draft government order, which was worked out by the State Space Agency of Ukraine (SSAU), was approved at a government meeting on Wednesday, September 20.
SSAU Head Pavlo Dehtiarenko said that before submitting the draft order for consideration by the Cabinet of Ministers the document had been agreed with all agencies concerned.
According to the order, the State Space Agency, the Foreign Ministry, the State Property Fund, the Justice Ministry, the Finance Ministry, the Economic Development and Trade Ministry and the State Fiscal Service should ensure the implementation of the plan’s measures in 2017-2018. SSAU, in turn, should table in the government a generalized report on the implementation of the plan’s activities before the 10th day of the month every quarter.
In accordance with the draft document obtained by Interfax-Ukraine, the plan’s activities include, among other things, developing and submitting for consideration by government the well-grounded proposals on the expediency of extending the effect of the intergovernmental agreements signed with Brazil in 1999 and 2002, which regulate cooperation on the Cyclone 4 project; making an inventory of objects of intellectual property rights received during the implementation of the project; making an inventory of manufactured technological equipment, as well as design and technological documents and ensuring they are preserved at the enterprises that produced them before the issue of their further use is resolved; liquidating after the inventory the Alcantara Cyclone Space bi-national company and preparing a mechanism for mutual settlements between manufacturers; confirming and determining mechanisms for compensation for losses incurred by Ukraine as a result of the cancellation and during the period of effect of the agreement, as well as attracting international assistance to protect Ukraine’s interests.
According to the draft document, Alcantara Cyclone Space should be liquidated before October 30, 2017 with a distribution of its assets, taking into account the intergovernmental agreement with Brazil of 2002 on the protection of technology under the project. Property and funds belonging to Ukraine as a result of liquidation of the bi-national company should be returned to Ukraine in 2017-2018 for further preservation.
At the same time, as early as 2017, the authorized agencies should begin work to ensure the implementation of the Cyclone 4 project with a new foreign partner.
In accordance with the approved plan of measures, draft government decisions and a draft law on supporting the creation of the Cyclone 4 rocket and space complex in the territory of another state with the involvement of foreign investors should be submitted for government consideration in 2017-2018.
As reported, the agreement signed by Brazil and Ukraine in 2003 on long-term cooperation on the use of the Cyclone 4 launch vehicle at the Alcantara launch center was unilaterally denounced by the Brazilian side in the summer of 2015. According to the procedure, the decision to denounce the agreement came into force in the summer of 2016. Kyiv suggested that Brazil’s decision to end cooperation at the final stage of the long-term project could have been taken under political pressure, as Brazil counted on deepening cooperation with Russia. In a new situation, Ukraine announced plans to create an alternative promising launch pad for the Cyclone 4 launch vehicle in North America.
According to the information provided by the State Space Agency of Ukraine in December 2016, the actual costs of the Ukrainian side for the implementation of the Cyclone 4 project in Brazil were estimated to be worth at $592 million.
In March 2017, Canada’s Maritime Launch Services Ltd (MLS) announced plans to build a launch complex in the Canadian province of Nova Scotia for commercial launch of satellites with the help of the Cyclone-4M launch vehicle developed by the Pivdenne design bureau (Dnipro). The first launch of the Cyclone-4M as part of the project is scheduled for 2020. The first funds under the program, which is to be implemented on a commercial basis, were allocated in 2016 by a founder of MLS – United Paradyne Corporation (UPC).