Business news from Ukraine

Ukraine has exported almost 35 million tons of grain since beginning of 2023/24 marketing year

Ukraine has exported 34.862 million tons of grain and leguminous crops since the beginning of the 2023/24 marketing year and as of April 1, of which 5.192 million tons were shipped in March, Deputy Minister of Agrarian Policy and Food of Ukraine for Digital Development, Digital Transformation and Digitalization Denis Bashlyk said in Telegram.

According to the report, in terms of crops, 18.765 million tons of corn, 13.842 million tons of wheat, 1.962 million tons of barley, and 1,000 tons of rye have been exported since the beginning of the current season.

The total export of Ukrainian flour since the beginning of the season as of April 1 is estimated at 79.3 thousand tons, including wheat flour – 75.1 thousand tons.

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Two new industrial parks should attract UAH 1.5 bln of investments – ministry

The Cabinet of Ministers of Ukraine has approved the creation of two new industrial parks (IP) – “Dnister” on the territory of Yampol city territorial community of Mogilev-Podolsky district of Vinnytsia region and “Galicia” on the territory of Kalush in Ivano-Frankivsk region.

According to the Ministry of Economy, total investments in the two industrial parks for the next three years should amount to more than UAH 1.5 billion.

Prime Minister of Ukraine Denis Shmygal at a government meeting on March 29 announced the inclusion of the two new parks in the Register of industrial (industrial) parks, and the creation of the State Office for the development of industrial parks.

According to the Ministry of Economy, the concept of IP “Dnister” assumes the creation of 265 jobs in the processing industry on an area of 17.2 hectares.

“It is assumed that the park will specialize in the production of paper and paper products, processing of plant products and other activities compatible with those listed,” the report explains.

In turn, IP “Galicia” will be located on an area of 19.8 hectares and will provide the creation of up to 1000 jobs.

The main directions of activity are determined by the manufacture of construction materials.

On the territory of the park will be created production of building materials from clay, production of cement, lime and gypsum mixtures, as well as manufacturing of products from concrete, gypsum and cement.

According to the Ministry of Economy, the investors plan to start production of machinery and equipment, introduce processing of industrial and household waste, engage in scientific and technical activities, as well as create enterprises that will work with alternative energy and energy conservation.

As reported, the state budget-2024 for the first time provided for the allocation of 1 billion UAH for the development of infrastructure of industrial parks.

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Ukrainian President Volodymyr Zelenskyy has indicated 12.4 million UAH of income in his declaration for 2023

The President of Ukraine Volodymyr Zelensky released the declaration of the person authorized to perform the functions of the state or local government on property, income, expenses and financial obligations for 2023.

According to the President’s website, “according to the declaration, the income of the head of state and members of his family amounted to 12 million 423 thousand 008 UAH, including income from the sale of government bonds – 7 million 455 thousand 972 UAH”.

The income of Vladimir Zelensky’s family in 2023 mainly consisted of wages, bank interest and income from the provision of real estate for rent. In total, this amount amounted to UAH 4 million 967 thousand 036.

“The increase in income compared to last year was due to the resumption of rent payments. The cash balance of the head of state’s family by the end of last year decreased by almost 2 million 800 thousand UAH. There were no other significant changes in 2023 in terms of assets, real estate, vehicles, etc.,” – reports the website of the President.

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Ukraine will create State Office for development of industrial parks

Prime Minister Denis Shmygal says that in Ukraine will create the State Office for the development of industrial parks.

“We increase our self-sufficiency, strengthen the production and industrial potential. One of the key tools in this direction will be industrial parks. This year we allocate UAH 1 billion for their development,” Shmygal said at a government meeting on Friday.

According to Prime Minister, the Cabinet on Friday approved the procedure for the use of these funds: for the construction of infrastructure of industrial parks, for compensation for connection to networks, for compensation of the interest rate on loans taken for development and investment.

“Also, the State Office for the development of industrial parks will be created. We will use the experience of Singapore, Turkey, Poland to make industrial parks the growth points of our industry and economy,” he said.

In addition, on Friday, the Cabinet of Ministers decided to create two industrial parks.

In particular, one of the parks will be created in Vinnitsa region (investments in its creation will amount to more than UAH 50 million), and the second industrial park will be in Ivano-Frankivsk region, (investments in its creation and development may amount to UAH 1.5 billion).

“Thanks to the creation of these two industrial parks, more than 1,000 jobs in the processing industry will be created,” Prime Minister said.

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Kuleba: The number one task is to return Ukrainian-Indian relations to pre-war level

During a visit to India, Ukrainian Foreign Minister Dmytro Kuleba pointed to positive changes in bilateral relations between Ukraine and India, Interfax-Ukraine reports, citing the Foreign Ministry’s press service.

Kuleba emphasized that India is gradually changing its understanding of Russia’s war against Ukraine and clearly realizes that Ukrainian-Indian relations have a great future.

“If we compare the state of our relations in the first year of the war and now, we can observe important positive changes. New Delhi has seen Ukraine as an important partner,” he emphasized.

The minister emphasized that Ukraine appreciates India’s desire to establish sustainable peace in our country and its comprehensive participation in meetings on the implementation of the Peace Formula of Ukrainian President Volodymyr Zelenskyy. According to him, Ukraine is working together with India and other countries to involve them in the Global Peace Summit to be held in Switzerland.

Summarizing, Kuleba named three key tasks for the development of relations between Ukraine and India.

“The number one task is to return the level of cooperation in trade and politics to the pre-war level. The pre-war level means multibillion-dollar trade between our countries, which means, first of all, attracting money to the Ukrainian economy, creating jobs, selling Ukrainian goods in the world; it means promising joint developments in high-tech industries; it means the arrival of Indian companies to the Ukrainian market,” the minister explained.

The second task is to work on new projects and programs that should bring Ukrainian-Indian relations to a new level, he said.

“Task number three is the Peace Formula. India’s further participation in the implementation of the Peace Formula will be an important signal to many countries in the region that are focused on New Delhi, convincing them to join this initiative of President Zelensky,” the minister emphasized.

Kuleba also said that Ukrainian diplomacy is working to organize visits by Indian Prime Minister Narendra Modi to Ukraine and by President of Ukraine Volodymyr Zelenskyy to India.

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National Bank fined TAScombank and two financial companies

The National Bank of Ukraine (NBU) has imposed penalties on TAScombank, as well as financial companies “Ap. Mi. Finance” and “Hertz” for a total amount of UAH 272 thousand, stated on the website of the regulator.

“TASkombank” was fined for UAH 170 thousand for providing the NBU with statistical reporting data in violation of the procedure for their formation, which led to repeated provision within six months of reporting data with insignificant errors.

Meanwhile, Ap. Mi. Finance” and “Hertz” were fined UAH 51 thousand each for late submission of reports: for December 2023 and January of the current year, respectively.

These decisions were made on the basis of the results of off-site monitoring within the framework of the payment infrastructure oversight function and came into force on March 25, 2024.

Violators are obliged to pay the fine within five business days from the date of receipt of the relevant decision of the regulator.

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