Business news from Ukraine

Business news from Ukraine

CABINET LAUNCHES NEW BUSINESS SUPPORT GRANT PROGRAMS

The Cabinet of Ministers has launched three new grant programs to support businesses, Prime Minister of Ukraine Denys Shmygal said.
“The first is irrevocable grants for the creation and development of processing enterprises. This may be an enterprise in the woodworking, metalworking, agricultural processing, furniture or construction sectors,” he said during a government meeting on Friday.
He added that the state will provide up to UAH 8 million in grant funds for those who already own a processing business or want to start one. It is fashionable to spend the grant on the purchase of equipment, the main requirement is to create at least 25 new jobs. In this case, the business owner must invest 30% of his investment. To receive a grant, an entrepreneur should submit a working idea, the prime minister explained.
The Cabinet of Ministers also approved a grant program for the IT sector and high-tech startups in the amount of UAH 750 thousand to UAH 3.5 million with the requirement to create at least five jobs.
In addition, the government launched the Start in IT grant program for IT education with a budget of UAH 1.8 billion, Shmygal noted. Thus, the state plans to finance educational grants up to UAH 30,000 for 60,000 Ukrainians. Funds can be spent on paying for a school or courses that will be determined by the Ministry of Finance.
This program is not for students or current professionals, but for those who have lost their jobs or are down and want to learn new skills in the profession of a developer or web designer, he pointed out.
Gradually, the details of these and other programs within the framework of the eWork project will become available in DIA, the head of government said.

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UKRAINIAN PARLIAMENT VOTED TO SUPPORT BOOK PUBLISHING AND BOOKSTORES

In Ukraine, from the beginning of 2023, newborns and 14-year-olds will be issued free certificates for Ukrainian publications in the amount of 0.3 subsistence minimum (lm) for able-bodied people (by the end of the year, this minimum will be increased from UAH 2,481 to 2684 UAH).
The relevant law “On Amendments to Certain Laws on Stimulating the Development of Ukrainian Book Publishing and Book Distribution” (No. 6287) was adopted by the Verkhovna Rada on Sunday with 314 votes without discussion, according to information on its website.
In addition, the document provides for the payment of subsidies to specialized stores from April 1, 2023, in which 80% of revenue comes from book products.
After the adoption on January 25 in the first reading, when preparing the bill for the second, the amount of rental compensation was slightly increased: in Kyiv and international airports – from 0.3 to 0.35 linear meters, in territorial communities from 500 thousand – from 0.2 up to 0.25 l.m., from 100 to 500 thousand – from 0.16 to 0.2 l.m., from 30 to 100 thousand – from 0.08 to 0.12 l.m. and up to 30 thousand inhabitants – from 0.04 to 0.08 l.m.
At the same time, the rental area, the fee for which is subject to compensation, is limited from 50 m in small communities to 150 m in Kyiv.
The amount of the subsidy may also not be more than 20% of the income received from the sale of books in the relevant bookstore.
In the financial and economic justification section of the explanatory note for the first reading, it was noted that the amount of expenses from the state budget for providing subsidies to bookstores in 2023 will be from UAH 52 to 86 million.

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FINLAND TO SUPPORT EDUCATIONAL REFORM IN UKRAINE

Ukraine and Finland have extended the implementation of the project “Finnish Support to the Ukrainian School Reform” until 2023, the press service of the Ministry of Education and Science of Ukraine reported on Thursday.
The corresponding agreement was signed during a meeting in Kyiv by Prime Minister of Ukraine Denys Shmygal and Prime Minister of Finland Sanna Marin. The project provides financial support from Finland for educational reform in Ukraine in the amount of up to EUR 6 million and up to EUR 2 million from the European Union.
“Since the beginning of Russia’s aggression in 2014, Finland has helped us on all international platforms, provided significant support in promoting reforms in Ukraine, in particular in the field of education,” Shmyhal said.

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PORTUGAL WILL PROVIDE UKRAINE WITH UP TO 250 MILLION EUROS IN SUPPORT

Portugal will provide Ukraine with up to 250 million euros in financial support. The corresponding memorandum was signed on Saturday in Kyiv by the Prime Minister of Ukraine Denis Shmygal and the Prime Minister of Portugal Antonio Costa.
“Ukraine should receive the first tranche of up to 100 million euros this year. This will help Ukraine maintain macroeconomic stability during the war and allow it to recover soon after our victory. Thank you Portugal for this support!” Shmygal wrote in a telegram channel.

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СONFERENCE IN SUPPORT OF UKRAINE TO BE HELD IN SLOVAKIA IN EARLY JUNE

A conference in support of Ukraine will be held in Slovakia in early June under the auspices of GLOBSEC, President of the organization Róbert Vass (Slovakia) said.
“GLOBSEC is preparing a large conference in Bratislava for June 2 to June 4 to mobilize military, humanitarian, economic and financial support for Ukraine, where prime ministers, presidents are invited and offered Ukraine the chairmanship of the event,” the Verkhovna Rada said on its website on Friday, citing the words Vass at the meeting of the delegation of parliamentarians of the EU Member States (GLOBSEC) with heads of the Verkhovna Rada committees and First Deputy Chairman Oleksandr Korniyenko.
Vass said that an international group of European parliamentarians, created under the auspices of GLOBSEC, came to Kyiv to support Ukraine in its struggle for sovereignty and independence.
Vass said Ukrainians are not just fighting for its soil, but also for Europe. These are the fundamental foundations of international law, so it is GLOBSEC moral duty to help Ukraine so that Ukrainians are not alone in this struggle. Today, the future of the West is determined in the East. Ukraine has shown that its place is in Europe, in the world of Euro-Atlantic values. GLOBSEC will help in Ukraine’s official accession to Europe, the president of the organization said.
Kornyienko urged European colleagues to involve their parliaments and governments in the restoration of Ukraine, to become partners of Ukrainian regions and cities.
“We heard your message about the conference and our participation in it. We will form both government and parliamentary delegations at the highest level in order to substantively discuss all issues, in particular, specific restoration projects,” Kornienko said.
A delegation of European parliamentarians, together with MPs of Ukraine, visited Bucha and Borodianka destroyed by the Russian Nazis in Kyiv region.
GLOBSEC is an analytical center in Central Europe and organizer of the annual Bratislava Forum.

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PRESIDENT OF UKRAINE THANKS ALBANIA FOR SUPPORT

President of Ukraine Volodymyr Zelensky thanked Albania for its support and assistance to Ukrainian refugees.
“Thank you for the fact that the people of Albania did not hesitate whom to support in this struggle. You have definitely taken the side of freedom and truth,” he told the Albanian parliament on Tuesday, speaking via video link.
“Thank you for concrete steps, for defense assistance, for supporting sanctions against Russia, for taking care of our people and accepting our children, in particular in Durres,” Zelensky said.
According to the president, “such an attitude towards Ukrainians in difficult times reminds me of Holy Mother Teresa, an Albanian whose life has become a symbol of humanism.”
“She taught people that good can overcome evil and get closer to the holiness that people will remember from generation to generation,” Zelensky said.

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