Ukraine is already implementing a number of large investment projects with the participation of Finnish business, and we expect that there will be many more of them soon, said Prime Minister of Ukraine Denys Shmyhal.
During a meeting with Finnish entrepreneurs in Helsinki on October 18 with the participation of Finnish Prime Minister Petteri Orpo, Shmyhal noted that more than 20 projects of Finnish companies have received support under the developed Plan for Participation in the Reconstruction of Ukraine, which provides effective tools to encourage private business to invest in the Ukrainian economy.
According to the press service of the Cabinet of Ministers on Saturday, Shmyhal highlighted the sectors in which “investments will be particularly successful for business and useful for Ukraine.”
In particular, in construction, these are advanced technologies, energy efficiency, and experience in building civil defense facilities.
In the energy sector, it is the development of renewable energy, decentralization of the energy system, development of smart grids, energy storage systems, and waste-to-energy.
In education – digitalization and development of the R&D model based on synergy between the government, universities and the private sector.
In the telecommunications sector, we are focusing on sixth-generation wireless communication technologies and advanced digital security technologies.
Since the beginning of 2024/25 MY, Ukraine exported 12.04 mln tonnes of grains and pulses as of October 21, of which 2.57 mln tonnes were shipped this month, the Ministry of Agrarian Policy and Food reported, citing the operational data of the State Customs Service of Ukraine.
According to the report, as of the same date in 2023, the total shipments were estimated at 8.333 mln tonnes, including 1.58 mln tonnes in October.
In terms of crops, since the beginning of the current season, Ukraine has exported 7.228 mln tonnes of wheat (1.13 mln tonnes in October), 1.673 mln tonnes of barley (350 thsd tonnes), 10.6 thsd tonnes of rye (3.1 thsd tonnes), and 3.844 mln tonnes of corn (1.08 mln tonnes).
The total exports of Ukrainian flour since the beginning of the season as of October 21 are estimated at 22.7 thsd tonnes (3.8 thsd tonnes in October), including 20.6 thsd tonnes of wheat (3.3 thsd tonnes).
In January-September, NovaPay international financial service (TM NovaPay) increased the volume of transactions by 16% compared to the same period last year, up to UAH 292 million.
According to the press service of NovaPay on Monday, the volume of money transfers in the system increased by 29% to UAH 213.7 billion over 9 months.
“The growth of our business performance was made possible by several key factors. Firstly, we are developing our own mobile application, the convenience and benefits of which have already been appreciated by more than 300 thousand Ukrainian users and more than 20 thousand business clients. Secondly, consumers are increasingly preferring online shopping: sellers send goods and buyers receive them via Nova Poshta. And we provide easy and profitable payment solutions for businesses and Ukrainians,” the press service of NovaPay quoted Ihor Prykhodko, the company’s CFO, as saying.
NovaPay reports that it has seen an increase in customer demand for services for replenishing and withdrawing cash from NovaPay cards at Nova Poshta offices, as well as cash on delivery services for goods delivered by Nova Poshta.
It is reported that in the first 9 months of the year, NovaPay increased its tax deductions by 22% to UAH 4.5 million.
NovaPay is an international financial service founded in 2001 that is part of the Nova group and provides online and offline financial services at Nova Poshta offices. According to its website, the company employs about 13,000 people in more than 3,500 Nova Poshta offices across Ukraine. According to the National Bank of Ukraine, the company accounts for about 35% of the total volume of domestic money transfers.
In 2023, NovaPay was the first non-bank financial institution in Ukraine to receive an extended NBU license, which allowed it to open accounts and issue cards, and was the first non-bank to launch its own financial application with a wide range of financial services at the end of last year.
In the second quarter of this year, the number of active NovaPay payment cards increased from 82.48 thousand to 151.85 thousand, which allowed the service to bypass Kredobank and Pivdenny Bank and come close to the top twenty market leaders.
The total number of active cards in Ukraine in the second quarter decreased from 52 million 738.88 thousand to 52 million 653.61 thousand. The leader, state-owned Privatbank, saw a slight decrease – from 28 million 163.33 thousand to 28 million 163.14 thousand, while the state-owned Oschadbank, which is in third place, had a more significant decline – from 7 million 631.25 thousand to 7 million 346.02 thousand. At the same time, monobank continued to strengthen its second position in the market: the number of its active cards increased from 8 million 446.74 thousand to 8 million 716.85 thousand.
On November 7, the 10th Kyiv International Economic Forum ( KIEF) 2024 will be held with the theme “The Power of Challenge. What will shape the future of Ukraine and the world?“.
For the third time, the forum will be held in Kyiv under martial law. Its participants will discuss the war in Ukraine in the context of the global world: protecting Ukraine’s economic interests in the EU, opportunities and challenges for human capital, the future of the energy system, Ukrainian Defense Tech in the global technology market, and business relations with the government to restore Ukraine.
This year’s Forum will be held against the backdrop of the US presidential election scheduled for November 5. The election results will be one of the key topics for discussion among speakers and participants.
“It is important that business, government and society work together to create effective mechanisms of cooperation. Especially now, when the full-scale invasion of Ukraine is compounded by global instability. We are on the verge of great changes, and the question before us is: how will we use them? Will these challenges become an insurmountable obstacle or, on the contrary, an incentive to find new solutions and move forward? “ said Yuriy Pyvovarov, CEO of the Kyiv International Economic Forum.
The organizers expect more than 100 speakers to take part in 16 panel discussions.
Among them:
Representatives of the international community
– Vyacheslavs Dombrovskis, Minister of Economy and Energy of Latvia (2014), Minister of Education and Science of Latvia (2013-2014)
– Katarīna Mathernova, Ambassador of the European Union to Ukraine
– Michael McFaul, Professor of Political Science at Stanford University (online)
– John Denton, Secretary General of the International Chamber of Commerce (ICC)
– Crispin Allison, senior partner at Marsh McLennan
– Konstantinos Nakis, Partner and President of Chicago Atlantic Trident
– Dan Rice, President of American University Kyiv, former US Army officer
Leaders of the business community
– Olga Ustinova, CEO of Vodafone Ukraine
– Vasyl Khmelnytsky, Forum initiator, founder of UFuture holding
– Yevhen Osypov, CEO of Kernel
– Natalia Yemchenko, Director of Public Relations and Communications at SCM
– Galina Gerega, co-founder of Epicenter Group of Companies
– Taras Kitsmei, co-founder and member of the Board of Directors at SoftServe
– Sergiy Voitsekhovsky, member of the Board of Directors, BGV Group Management
The discussion panels will also include participants from the public sector – representatives of the Cabinet of Ministers, the Office of the President of Ukraine, and the Verkhovna Rada.
Program updates and speaker announcements can be found on the website.
This year, in partnership with Gen.Ukrainian, KIEF is allocating part of the proceeds from ticket sales to the psychological rehabilitation of children affected by the war. The funds will be used to organize Gen.Camp camps where children will receive professional help from qualified psychologists and psychotherapists. In addition, those interested can make additional donations at the link.
TheKyiv International Economic Forum is one of the largest international forums in Eastern Europe, bringing together representatives of business, government and society to discuss key economic issues and global trends.
A number of ideas discussed at KIEF were later implemented, in particular, at the legislative level: industrial parks, an export credit agency, energy service contracts, a moratorium on the export of roundwood, and a reduction in the unified social tax. These tools have attracted billions of dollars in investment and increased Ukraine’s GDP.
Registration for the Kyiv International Economic Forum is available here.
Title partners: UFuture, Mastercard, Nova Poshta, AEQUO
Partners: Biopharma, INTERPIPE, FUIB, MHP, Epicenter, PrivatBank, DTEK, Lamel, Ajax Systems, Biosphere Corporation, Sense Bank, Kernel, Vodafone, OKKO, Metinvest
Program partners: ACC (American Chamber of Commerce in Ukraine), Center for Social Change and Behavioral Economics, GLOBSEC
Business expert: Forbes Ukraine
Title media partners: Starlight Media, 1+1 media
Media partners: New Voice, LIGA.net, RBC-Ukraine, Delo.ua, Interfax-Ukraine, The Kyiv Independent, TAVR Media, Mind.ua, Kyiv Post
To apply for media accreditation: accreditation form.
Contact person for registration of participants:
Oleksandra Barabash
Tel.: +380 50 880 0010
Email: tickets@forumkyiv.org
Contact person for media accreditation:
Bohdana Myshkovska
Tel: +380 63 597 4806
Email: bogdana@sameandfriends.com
Interfax-Ukraine is a media partner of the Forum.
NJSC Naftogaz of Ukraine plans to import 2-3 bcm of gas, according to the published memorandum on economic and financial policy for the 5th review of the EFF program with the IMF.
“For the upcoming heating season 2024/25. Ukraine plans to import additional gas for domestic consumption in the amount of up to 2-3 billion cubic meters, while additional gas may be stored by non-residents for the needs of the EU countries in accordance with the baseline scenario,” the document says.
At the same time, it is noted that restrained domestic consumption and growing domestic production limited the need for gas imports in the last heating season.
Regarding import plans for this year’s heating season, it is noted that Naftogaz has secured additional financing for gas imports from the EBRD and bilateral donors.
If Naftogaz faces a liquidity shortage, the government is ready to assess the amount of compensation for the company’s special obligations in 2025 based on its actual documented costs, verified by the State Audit Service and other stakeholders. The relevant calculations will be finalized by the end of August 2025.
“The potential pressure on costs related to gas imports and PSO compensation will be taken into account by adjusting the fiscal balance targets to take into account the above assessment, the results of the audit of the debt of district heating companies (DHCs), available funding, and limited to UAH 60 billion (about 0.8% of GDP),” the document says.
It also notes that the energy sector reform agenda, “as soon as conditions allow,” includes additional gradual increases in gas and electricity tariffs with parallel support for vulnerable consumers, and after the war ends, it will require restoring and strengthening competition in the wholesale and retail gas markets.
It is noted that the government will adopt a roadmap for the gradual liberalization of gas and electricity markets with an implementation plan indicating the timeline for the period after martial law.
As reported, Naftogaz Group CEO Oleksiy Chernyshov said in early October in a commentary to Energoreforma that as of November 1, the company’s purchases of gas in the customs warehouse (CW) mode, which is carried out as a reserve at the expense of the EBRD loan, will be “within 500-600 million cubic meters.”
At the end of 2022, Naftogaz attracted an EBRD loan for EUR 300 million under state guarantees, which created a reserve stock of natural gas in the amount of 748 million cubic meters in the customs warehouse (CU) mode.
A new agreement on the EBRD loan to Naftogaz for EUR 200 million under state guarantees was signed in November 2023. At the time, it was emphasized that it would come into force after the state guarantees were issued. Norway and the Netherlands shared the credit risk with the bank.
The CU regime allows natural gas to be stored in Ukraine’s underground gas storage facilities for three years without paying taxes and customs duties during its further transportation from the country.
On October 17, on the eve of the Day of Restoration of Independence of the Republic of Azerbaijan, many honored guests gathered in the space of the National Library of Ukraine for Children to celebrate the Day of Culture of Azerbaijan: Distinguished Ambassadors Extraordinary and Plenipotentiary of foreign countries, readers and people’s artists of Ukraine. The event was supported by the Ministry of Culture and Strategic Communications of Ukraine.
The Republic of Azerbaijan is an incredible country with well-established traditions and a unique culture, where wonderful people live. The rich cultural heritage of Azerbaijan combines elements of the East and the West. This country has given the world not only outstanding scientists and artists, but also preserved unique cultural heritage that has been passed down from generation to generation.
Ukraine and Azerbaijan have strong political, diplomatic, and economic ties.
The National Library of Ukraine expresses its sincere gratitude to His Excellency Mr. Seymur Mardaliyev, Ambassador Extraordinary and Plenipotentiary of Azerbaijan to Ukraine, for the close, friendly cooperation with the National Library of Ukraine for Children.
This year, the Embassy of Azerbaijan became a partner in organizing and conducting the III All-Ukrainian Environmental Children’s Drawing Contest “The Future of the Planet is in Our Hands”, and helped to involve the State Oil Company of the Republic of Azerbaijan SOCAR Energy in Ukraine in the co-organizers of the contest. Representatives of the Embassy and the oil company worked in the jury, participated in the press conference and awarding ceremony of the winners and prize-winners, and provided gifts for the children.
Thanks to Mr. Ambassador, new wonderful children’s books were added to the library’s collection.
Seymour Mardaliev and Alla Gordienko delivered their speeches on stage and assured the audience of a fruitful and strong partnership and friendship.
Part of the culture of every nation is its poetic word. As part of the national project “Ukraine Reads to Children”, Consul of the Embassy of the Republic of Azerbaijan in Ukraine Galibbay Agadashov and Assistant and Translator of the Ambassador Olena Nazarenko read the poem “The Bee” by the famous Azerbaijani children’s poet and prose writer Abdullah Shahig in Azerbaijani and Ukrainian.
As part of the celebration, students of the Irpin Humanitarian Lyceum “Linguist” named after Zarifa Aliyeva, headed by the deputy directors of the lyceum, visited the NBU for children for the first time. This educational institution also enjoys a true friendship with the Embassy of Azerbaijan.
On the second floor of the library, adults and children visited the book exhibition “Cultural Values of the Azerbaijani People”, decorated with household items. The exhibition will be on display at the National Library of Ukraine for Children for 10 days.
The Embassy of Azerbaijan in Ukraine treated all the guests of the holiday with delicious Azerbaijani delicacies.
