Business news from Ukraine


JSC Ukrzaliznytsia turned to partners and financial donors with a request to provide non-refundable financial assistance for the company’s work in the conditions of war.
According to the company’s website, the funds will be used to continue evacuation and provide shelters to the civilian population, to help the company’s employees affected by military aggression, as well as to support the company’s activities during the military aggression of the Russian Federation.
“Against the backdrop of open military aggression against Ukraine, launched by Russia on February 24, which is now unfolding, Ukrzaliznytsia continues its work. The main priority today is to ensure the safety of the civilian population and its transportation to safer regions, to protect the life and health of workers. The Ukrainian Railways continues its activities, being at the forefront of humanitarian, evacuation and economic support for Ukraine,” the company said in a statement.
In addition, the company continues at its own expense to evacuate civilians from regions under shelling by Russian invaders. Thus, since the beginning of the war, more than 3 million people have already been evacuated to safer regions. In addition, cargo transportation is carried out to meet the needs of the state and business.
In addition, the company notes that Ukrzaliznytsia constantly records the facts of the destruction of the railway infrastructure and rolling stock. Risking their lives, railway workers are trying to quickly restore damaged equipment and tracks in order to ensure the continuous transportation of passengers and goods. Unfortunately, there are injuries and deaths of workers, members of their families, as well as the destruction of their homes as a result of attacks by the Russian military.
“Railroad workers are confident that the current situation will not stop Ukrzaliznytsia, but, on the contrary, will lead it to a new stage of growth and modernization. Therefore, the company seeks to continue the dialogue with its partners as soon as possible and at this difficult time highly appreciates financial donors, investors and partners who support Ukrzaliznytsia and provide irrevocable financial assistance,” the company’s website says.

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Ukraine and Croatia have signed a Memorandum of Cooperation between the Council of Exporters and Investors, Ukrainian Ambassador to Croatia Vasyl Kyrylych has said.
“Today we have signed a Memorandum of Cooperation between the Council of Exporters and Investors under the Ministry of Foreign Affairs of Ukraine and the Croatian Economic Chamber,” Kyrylych wrote on his Twitter on Thursday evening.
The next stage of the countries, he said, is expected to be a series of joint projects.



More than 15 potential investors have shown interest in acquiring JSC First Kyiv Machine-Building Plant (formerly the Bilshovyk plant) at a privatization auction, the press service of the State Property Fund (SPF) of Ukraine has reported.
“As a result of high-quality preparation [of the enterprise for privatization], more than 15 potential investors have already shown interest in this asset, as evidenced by the non-disclosure agreements they signed to obtain detailed information on the enterprise,” the SPF said in a Friday press release.
The press service recalled that the SPF carried out “comprehensive work to stabilize this asset, defended the state interest in courts and returned the illegally alienated property, provided a deep audit of the enterprise and, despite all the obstacles, prepared the Bilshovyk plant for the privatization auction.”
The press service of the State Property Fund also declared attempts to impede the transparent privatization of the enterprise, and called them evidence of “the helplessness of the shadow employees separated from the large-scale state asset.”
“It is such a large-scale facility that the Bilshovyk plant is, which for decades was destroyed and was brought to a critical state: UAH 500 million in debt, seized property and destroyed production turned this facility into ruins – only for the illegal income of some individuals,” the press service said.

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Ukraine is waiting for the arrival of investors from Israel and guarantees the protection of their investments, Ukrainian President Volodymyr Zelensky has said.
“Ukraine is waiting for Israeli investors, and the government and I personally guarantee the protection of all their investments. In addition, Ukraine is interested in studying and using Israel’s significant experience in the field of innovation,” Zelensky said during joint statements with Israeli President Isaac Herzog to the media.
He added that Israeli campaigns, in turn, can use Ukraine’s colossal potential as a new European technological hub.
Zelensky noted that today the volume of direct Israeli investments in Ukraine does not meet the potential of the two countries.
“New technologies, innovations, cybersecurity, healthcare, pharmaceuticals, space programs, banking, finance, construction, agriculture are just some promising areas for the development of investment cooperation between Ukraine and Israel,” the President of Ukraine said.
Zelensky also said that the Free Trade Agreement between Ukraine and Israel opens up new opportunities for strengthening bilateral economic interaction. The countries intend to increase trade volumes to the level that had been before the spread of COVID-19.

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President of Ukraine Volodymyr Zelensky met with business representatives and potential investors (American Jewish Committee) in New York, the presidential press service reported. The Head of State noted that Ukraine is carrying out large-scale transformations aimed at implementing European and Euro-Atlantic standards.
“The support of partners and allies, first of all the United States, is extremely important for us,” Zelensky said.
The President stressed that the development of economic and investment cooperation is one of the most important priorities for further deepening the strategic partnership between Ukraine and the United States.
“I invite you to become part of the process of transformation of Ukraine,” the President said.
Zelensky said that Ukraine had developed an ambitious plan for change in the country.
“We are counting on the support of partners, especially the United States, which will allow us to conduct a transformation in the short term. I urge you to join the implementation of this plan,” he said.
The President briefed the investors on the security situation in Donbas and the challenges in the energy sector in the context of the Nord Stream 2 project, the press service said.
The President noted that Ukraine is preparing for mourning events on the occasion of the 80th anniversary of the Babyn Yar tragedy and called for joining these events.
Zelensky expressed gratitude to the Jewish community of the United States of America, which has historical ties with our country and has made a significant contribution to the development of strategic relations between Ukraine and the United States.
As reported, on the evening of September 20, Zelensky arrived in New York to participate in the 76th session of the UN General Assembly. The annual debate runs until September 27.
Zelensky is expected to speak at the general debate of the UN General Assembly on September 22.



Beijing demands from Kyiv to protect the legitimate interests of Chinese investors in connection with the decision to nationalize Motor Sich enterprise (Zaporizhia), more than 50% of which is owned by Chinese companies, Chinese Foreign Ministry Spokesman Zhao Lijian has said.
“China demands that Ukraine, in accordance with the law, protect the legitimate interests of Chinese enterprises and investors,” Lijian said.
Earlier Secretary of the National Security and Defense Council (NSDC) of Ukraine Oleksiy Danilov said that PJSC Motor Sich would soon be legally returned to the ownership of Ukraine.
The Chinese shareholders of Motor Sich initiated an arbitration against the state of Ukraine in December 2020 seeking to recover $3.6 billion. They claim that the Ukrainian authorities expropriated their investments, as well as violated their other rights stipulated by the intergovernmental agreement on the encouragement and mutual protection of investments between Ukraine and China from October 1992. The international law firms WilmerHale, DLA Piper, and Bird&Bird are representing Chinese investors’ interests in the claim.
According to a source in the Ukrainian government, currently about 75% of Motor Sich’s shares are already owned by a group of Chinese owners, and some part of the disputed block of shares acts as collateral for financing provided, among other things, by China Development Bank.
PJSC Motor Sich is one of the world’s largest manufacturers of engines for aviation equipment, as well as industrial gas turbine units. It supplies products to more than 100 countries around the world.

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