Business news from Ukraine

FIRST INVESTMENT PROJECTS MAY BE SIGNED BY END OF 2021

The first projects with significant investments, which will receive state support through the “investment” mechanism, may be signed by the end of 2021, ex-Minister of Economy Ihor Petrashko said.
“After the adoption of by-laws, the Ministry of Economy will begin accepting applications … Companies will begin to prepare such projects only after the issuance of by-laws. Investors will need at least three to four months for this, so we expect the first projects by the end of 2021,” he said in an exclusive interview with the Interfax-Ukraine agency.
At the same time, according to Petrashko’s estimates, the by-law base to the law on “investment nannies” will be approved by the end of June.

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ECONOMY MINISTER DENIES PLANS TO LIQUIDATE UKRPATENT

Minister of Economic Development, Trade and Agriculture of Ukraine Tymofiy Mylovanov has denied plans of the government to liquidate state-owned enterprise (SOE) Ukrainian Intellectual Property Institute (Ukrpatent), and the creation of the National Intellectual Property Authority is planned only on the basis of SOE.
“No one will close Ukrpatent. If something is created, it will only be based on Ukrpatent,” Mylovanov said during a meeting with the staff of the enterprise upon their appeal to the ministry.
In its appeal, the company pointed to abuses and violations by the Ministry of Economic Development and Trade, in particular, the director of the intellectual property department Valeriy Zhaldak and his deputy Bohdan Paduchak.
According to the document, in particular, in May 2018, ex-Minister of Economic Development Stepan Kubiv by his decree established the state-run organization National Intellectual Property Office, which duplicates the functions of Ukrpatent, which contradicts Ukrainian and international legislation in the field of intellectual property protection and bilateral international treaties, the company said in the appeal. The creation of such an organization requires an appropriate government decree, and not a ministerial decree, the team said.
In addition, Ukrpatent transferred over UAH 36 million for the maintenance of the National Office, the state company said.
The parliament has registered a package of bills (No. 2255, 2255-1 and 2259), which provide for the establishment of the National Intellectual Property Authority as a legal entity under the management of the Ministry of Economic Development, Trade and Agriculture. At the same time, bill No. 2255 provides for the creation of the National Intellectual Property Authority on the basis of Ukrpatent.

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UKRAINE’S FORMER ECONOMY MINISTER ABROMAVICIUS APPOINTED HEAD OF STATE-RUN UKROBORONPROM

Ukraine’s President Volodymyr Zelensky has signed a decree appointing Aivaras Abromavicius director general of the Ukroboronprom state concern, according to a document posted on the presidential site. “Aivaras Abromavicius is appointed general director of the state concern Ukroboronprom,” according to decree No. 641/2019 published on the Ukrainian presidential website on Friday evening.
Before that, the Ukrainian president issued decree No. 640/2019 relieving Pavlo Bukin of his duties as head of Ukroboronprom.
Abromavicius was Ukraine’s economy minister between December 2014 and April 2016.

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UKRAINIAN ECONOMY MINISTER CREATES WORKING GROUP TO SETTLE SITUATION ON TOURISM MARKET

First Deputy Prime Minister and Economic Development and Trade Minister Stepan Kubiv has ordered to create a working group for drafting legislation amendments in the sphere of tourism and settling the situation on this market. The press service of the Economic Development and Trade Ministry of Ukraine reported on Thursday that on July 4, a meeting headed by Kubiv was held to settle the situation in Ukraine due to commercial conflict between tour operators and airlines.
“At the same time, the Economic Development and Trade Ministry, within the framework of the current legislation, is deprived of effective instruments of influence on the players of the tourism market, so Kubiv instructed to create a working group that will draft proposals to amend the current legislation,” the press service said.
In particular, it is planned to strengthen licensing requirements for tour-operator activity, create an effective mechanism for realizing the civil liability of the tour operator to tourists, increase the amount of financial support for tour operators, establish the administrative responsibility of tour operators for violating legislation in the sphere of tourism and other things.
As it was reported, on June 30, massive delays and cancellations of charter flights began, as a result of which about 1,500 citizens of Ukraine were “stuck” in Tunisia, Albania and Georgia.
As the Bravo airline reported, the problem with the delivery of passengers and cancellation of flights arose due to a debt of the tour operator Oasis in the amount of UAH 25 million.
At the same time, Oasis called this information unreliable and laid the responsibility for disruption of flights to the airline.

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GERMAN ECONOMY MINISTER PETER ALTMEIER INTENDS TO DISCUSS ENERGY ISSUES WITH UKRAINE AND RUSSIA IN MID-MAY

Federal Minister for Economic Affairs and Energy Peter Altmeier intends to make visits to Russia and Ukraine, the German news agency DPA has reported referring to the sources in the cabinet of the Federal Republic of Germany on Monday. According to it, the trips are scheduled for May 13 and May 14.
It is expected that the head of the German Economy Ministry will discuss energy and economic policy with his counterparts in Russia and Ukraine.
The key topic of the negotiations should be the future of the Nord Stream 2 gas pipeline project and Ukraine as a transit state for Russian natural gas supplies to Europe.

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