Business news from Ukraine

UKRAINE INTERNATIONAL AIRLINES LAUNCHES FLIGHTS FROM KIEV TO RAS AL-KHAIMAH (UNITED ARAB EMIRATES)

Ukraine International Airlines (UIA) is launching flights from Boryspil International Airport (Kyiv) to Ras al-Khaimah (the United Arab Emirates) from June 25, 2021, the airline’s press service said on Monday.
“UIA will become the first Ukrainian airline to operate direct flights to Ras al-Khaimah and one of the main strategic aviation partners for the Emirate, which is currently developing dynamically,” the UIA said.
The airline said that it will take five hours to fly from Kyiv to Ras al-Khaimah international airport. Upon arrival, all tourists undergo mandatory PCR testing at the airport. In addition, they can also undergo free PCR testing before returning to Ukraine.
According to UIA, Ras al-Khaimah received safety certifications from the world leader in the inspection and certification services Bureau Veritas, as well as from the World Tourism and Travel Council (WTTC).
“Ukraine is a fast growing and important market for the emirate of Ras al-Khaimah, and our partnership with Ukraine International Airlines is another step in the strategy of increasing tourist flow through introducing direct flights… This is a key step in the restoration of international tourism on our broad strategy of exploring new routes through main, secondary and emerging markets thanks to charter and scheduled flights,” CEO at Ras Al Khaimah Tourism Development Authority Raki Phillips was quoted as saying.
In turn, UIA CEO Yevhen Dykhne said that the airline plans to increase the frequency of flights to Ras al-Khaimah, given the expected high demand, especially in summer.

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UKRAINE INTERNATIONAL AIRLINES STARTS FLIGHTS TO UNITED ARAB EMIRATES

Ukraine International Airlines (UIA) in June 2021 will launch flights to Ras al-Khaimah (United Arab Emirates).
An airline’s representative told Interfax-Ukraine on Tuesday that the flights will be operated twice a week – on Mondays and Thursdays – by Boeing 737-800 (NG). The aircraft is designed for 186 seats.
The company plans to fly to Ras al-Khaimah until the start of the winter season.
Tickets will be sold both through tour operators (TUI, ALF, Kompas, TPG) and through the UIA website.
Currently, Ukrainian airlines do not fly to Ras al-Khaimah.
The international airport in Ras al-Khaimah is located forty minutes from Dubai and three hours from Abu Dhabi.

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INVESTMENT FUND MUBADALA FROM UNITED ARAB EMIRATES SIGNS MEMO WITH 18 UKRAINIAN COMPANIES

Mubadala, the investment fund of the United Arab Emirates, has signed memorandums of understanding with 18 Ukrainian companies, in particular with EastOne represented by Rodion Kukhaev, Interpipe represented by Denys Morozov, UFuture represented by Mykola Tymoschuk, Unit.City represented by Kostiantyn Yevtushenko, Dragon Capital represented by Andriy Nosok, Fortior represented by Mykola Nesterenko and UMG represented by Andriy Horokhov.

“Mubadala has also signed a number of other memorandums of understanding with private companies that aim to explore investment opportunities in the private sector in Ukraine,” the investment fund said in a release.

According to its data, earlier Mubadala fund also signed memorandums of understanding with other Ukrainian companies, including TAS Group, BGV, Horizon, OdesaGaz, Epicenter, Oschadbank, Mais and Metinvest, which together with DTEK and UMG are part of the assets of SCM Group.

Adviser to the head of the President’s Office Tymofiy Mylovanov said that Mubadala expects to close the first investment by the end of 2021.

“The average ticket (investment amount) of Mubadala is $ 50-100 million,” he wrote on Facebook, pointing out that the estimated investment amount could thus reach $ 1.8 billion.

“The creation of a sovereign fund of Ukraine for joint investments with this and other funds of the UAE and other countries was discussed,” he added.

According to him, the Ministry of Agrarian Policy also signed a memorandum on the creation of a trading company and an agricultural hub.

“Meetings and consultations on specific agreements with other state funds of the UAE are underway,” Mylovanov said.

UNITED ARAB EMIRATES AND UKRAINE SIGN MEMOS AND CONTRACTS WORTH $3 BILLION

Ukraine and the United Arab Emirates have signed memorandums and contracts worth $3 billion or more, the presidential press service said. “As part of the official visit of Ukrainian President Volodymyr Zelensky to the United Arab Emirates, the Ukrainian delegation signed a number of memorandums and contracts totaling $3 billion or more,” the press service said in the statement.

In particular, memorandums of understanding were signed between the State Property Fund of Ukraine and the Mubadala investment company. They are aimed at deepening cooperation in the development of promising investment projects and the participation of the Emirate side in the program of privatization of state-owned property in Ukraine.

“At all international meetings, I urge to invest in Ukraine. Our state has enormous potential: geopolitical position, natural resources, people of knowledge. Right now is the time to understand this potential and create a strong economy,” Zelensky said.

He said that attracting investment is the key to Ukraine’s economic growth. “The signing of a memorandum with the Mubadala investment company of the government of Abu Dhabi on intentions to invest in Ukraine is a very important step in opening the way for major investments in Ukraine from Western Asia,” Zelensky said.

In addition, the Ministry of Digital Transformation of Ukraine signed a memorandum with INTELMAX Management Consulting, which provides for cooperation on the creation of a platform for the exchange of intellectual property based on the Fantom blockchain, which will provide increased security and transparency. It is also planned to introduce blockchain technologies into government processes and services.

The sides also signed documents in the defense sector, discussing the possibility of constructing joint factories outside Ukraine.

As the President’s Office said, the possibility of opening a Ukrainian sovereign fund for joint investments is also being considered.

“Along with this, some 18 Ukrainian private companies, including Interpipe, Dragon Capital, DTEK, Unit City, EastOne, UMG, Ufuture, Fortior, signed memorandums with the Mubadala state investment fund,” the President’s Office said.

UKRAINE AND UNITED ARAB EMIRATES AGREE TO FACILITATE IMPLEMENTATION ENERGY EFFICIENCY INVESTMENT PROJECTS

The State Agency on Energy Efficiency and Energy Saving of Ukraine and the Ministry of Energy and Industry of the United Arab Emirates (UAE) have signed a memorandum of understanding on energy efficiency and renewable energy. “By cooperating, we will exchange experience and promote the implementation of joint investment projects in the field of energy efficiency, clean energy and garbage processing,” the press service of the Ukrainian agency on Saturday quoted its head, Serhiy Savchuk, as saying.
The State Agency on Energy Efficiency and Energy Saving of Ukraine says that the UAE is one of the most developed countries of the Persian Gulf, which has set the task to achieve at least 44% of “clean” energy in the country’s overall energy balance by 2050.
In addition, the International Renewable Energy Agency (IRENA) whose charter Ukraine has joined is located in Abu Dhabi, the capital of the UAE. What is more, the world’s largest solar park is being built near Dubai. Its projected capacity by 2020 is 1 GW, and 5 GW by 2050.

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