Business news from Ukraine

Business news from Ukraine

UKRAINE APPROVES 103 PRIORITY INVESTMENT PROJECTS

The Cabinet of Ministers has identified as a priority a project for production of ventilators, two waste incinerators and an air launch space rocket complex, a total of 103 priority investment projects in the approved list until 2023.

As the correspondent of the Interfax-Ukraine agency reports, the government approved the relevant order with a three-day revision at a meeting on Wednesday, November 18.

According to the draft decree, four out of 103 projects provide for financing entirely from the state budget, and another 43 projects partially from the state and/or local budget.
As indicated in the document, among the priority investment projects are the organization of the production of ventilators at the expense of the investor, the state budget and other sources, as well as the construction of a plant for solid household waste processing (ensuring environmental safety in Kyiv) at the expense of an investor.
In addition, among the priority projects is the construction of a waste sorting line in Drohobych (Lviv region) at the expense of the state budget and the local budget.
Among the investment projects that are planned to be implemented at the expense of the state budget and international technical assistance are the modernization of the An-124-100 and An-225 aircraft families at Antonov State Enterprise, an air launch rocket and space complex, the Observatory International Scientific Center on the Pip Ivan mountain – a platform for the development of the Carpathian region.
In addition, it is planned to implement a project to prepare the production of an infrared homing head for guided air missiles, as well as to expand the Yahodyn international checkpoint – exclusively at the expense of the state budget.
Also, at the expense of the investor, local budgets and the state budget, it is planned to implement the construction of waste incinerators in Kramatorsk and Mariupol, the construction of the tourist and transport infrastructure of the Shatsk National Natural Park (plus international technical assistance funds), and to build the H2O Nova Kakhovka Olympic Sports Center.

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TRADE REPRESENTATIVE: UKRAINE CAN INTENSIFY TRADE WITH ASIAN COUNTRIES

Ukraine can intensify trade with Asian countries, while maintaining focus on European markets, the Deputy Minister for Development of Economy, Trade and Agriculture, Ukraine’s Trade Representative Taras Kachka has said.
“We have a good dialogue with these countries. It is very likely that we will continue to talk about the intensification of trade. There are requests from Indonesia. There are talks with Malaysia,” he said during the discussion “Trade Wars: the Art of Defense.”
According to the trade representative, the demand for Ukrainian products from Asia is growing and this is a phenomenon of 2020.
“The fact that this year the dynamics of trade with Asia is greater than with the EU does not mean that we should forget the EU and flee to Asia,” he said.
Kachka added that next year Ukraine will “evolutionarily” update its Export Strategy, which will allow the country to be more predictable in terms of trade policy.
“The less “somersaults” we have, the better. In fact, we need a gradual systematic work in all directions,” the official said.

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UKRAINE PLANS TO AGREE WITH INDONESIA ON MUTUAL ABOLITION OF VISA REQUIREMENTS

The Cabinet of Ministers of Ukraine has approved a draft agreement with the government of the Republic of Indonesia on the mutual cancellation of visa requirements.
The corresponding decision was made at a government meeting on Wednesday.
The draft agreement provides for the possibility of visa-free travel by citizens of the countries of the parties for up to 30 days during each visit of Ukrainian citizens to Indonesia and for up to 30 days within 60 days for travel of Indonesian citizens to Ukraine.

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UKRAINE: POLAND SHOULD LIFT TRANSIT RESTRICTIONS FOR OUR HAULERS

Ukraine has fulfilled all the obligations assumed during the meetings of the Mixed Commissions on International Road Freight Transport, but the Polish side does not honor the agreement at the presidential level, the Ministry of Infrastructure of Ukraine has said.
As reported on the website of the Ministry of Infrastructure, a working meeting of the Ministers of Infrastructure of Ukraine and the Republic of Poland Vladyslav Krykliy and Andrzej Adamczyk was held in Kyiv on Monday, during which the Ukrainian minister pointed out the fact that Ukraine’s fulfillment of its obligations led to a significant increase in the share of use of permits for 2019 by Polish haulers.
Krykliy reiterated that Poland should lift transit restrictions for Ukrainian haulers, since this negatively affects not only trade relations between the two countries, but also with other EU countries.
At the same time, he said that Ukrainian haulers are ready to compete in the two-sided market.
The ministers of Ukraine and Poland also discussed the work of crossing points across the Ukrainian-Polish border, in particular, the Korcheva-Krakovets point.
In addition, Krykliy said that currently the Verkhovna Rada is expected to consider at second reading a bill that solves the problem of VAT payment by work performers and service providers under the so-called “Polish loan,” but asked the Polish side to speed up the work of the construction company to repair the crossing point.
The Ukrainian minister suggested that the Polish side conduct a joint audit to determine the possible reasons for the appearance of queues at the border crossing points with the involvement of a third independent party, and introduce general border and customs control at crossing points to increase their efficiency.

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UKRAINE CUTS COPPER IMPORT BY 9%, EXPORT BY 7.6%

Ukrainian enterprises reduced the import of copper and copper products in value terms by 9% to $93.276 million in January-October this year compared to the same period last year.
According to customs statistics published by the State Customs Service of Ukraine, export of copper and copper products decreased 7.6% to $63.017 million in the first 10 months of 2020.
In October, copper and copper products were imported in the tune of $11.915 million, and exported in the tune of $7.934 million.

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UKRAINE PLANS TO INCREASE THE ANNUAL FLOW OF FOREIGN TOURISTS

Ukraine plans to increase the annual flow of foreign tourists to 30 million people, domestic to 60 million by 2030, and also intends to increase the industry’s share in GDP to 10%, according to the National Economic Strategy 2030, presented by Prime Minister Denys Shmyhal on Friday.
According to the document entitled “Vectors of Economic Development” published within the framework of the National Economic Strategy 2030, Ukraine ranks 78th in the Travel & Tourism Competitiveness Index, while the goal is to rise to the 45th place by 2030.
Last year, the number of accommodation facilities in Ukraine increased by 13% – up to 5,300, while the number of beds was 370,000. At the same time, the average number of beds concerning the area of the country in Ukraine is 1.6/sq. m, while in Europe this figure is 9.2/sq.m, the document says with reference to a number of statistical departments.
According to the document, the export of tourist services in Ukraine at the end of 2019 amounted to $1.62 billion, of which 90% is personal tourism.
In addition, among the competitive advantages of Ukraine is the size of the average check for hotels, which, taking into account their operating profitability at the level of 40%, opens up potential for hotels in the three-four star segment.
The document creators also call the market of recreational and health-improving services and human resources the strengths of Ukrainian tourism.
Challenges include safety and security, environmental resilience, protection of natural resources, and outdated transport infrastructure. The priority is, among other things, improving the comfort system, managing quality and introducing a classification system by hotel categories.
Delta Wilmar invests $5.5 mln in new sunflower oil bottling shop

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