Business news from Ukraine

AUSTRIA PROPOSES TO CREATE SCHOOL FOR YOUNG FARMERS IN UKRAINE

The importance of investing in the development of the agricultural sector was noted by CEO of Austrian Agricultural Cluster Hermann Wieser, who proposed to create create a technical agricultural school for young farmers in Ukraine.
“Ukraine has land with excellent resources. The point is that you can process agricultural products into high-quality products and export them to the world,” Wieser said at the Ukrainian-Austrian business forum in Vienna on Tuesday attended by Ukrainian President Volodymyr Zelensky and Austrian President Alexander Van der Bellen.
Wieser called on the president of Ukraine to join the implementation of this project.

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AUSTRIA CANCELS BAN ON LANDING AIRCRAFT FROM UKRAINE

Austria has canceled the ban on landing aircraft from Ukraine since August 1, but the general regime of entry for Ukrainian citizens into this country remains unchanged – entry for tourism purposes will remain banned, Ukrainian Ambassador to Vienna Oleksandr Scherba has said.
“I have two news – good and bad. The good news is that starting from August 1, Austria will lift the ban on landing aircraft from “at-risk countries,” including Ukraine. The bad news is that it looks like the general regime the entry of Ukrainians into Austria remains unchanged, that is, there is no tourism. Those who have a residence permit, those who fly for special family reasons (wedding, family reunification, funeral…), as well as for urgent treatment can enter. They must have a fresh COVID-19 test taken,” he wrote on Facebook on Friday.
According to Scherba, an official note on the new regime is expected on Saturday.
“I know that there are a lot of questions from Ukrainian students who have just entered Austrian universities, therefore they do not yet have a residence permit. I don’t have an answer about the order of their arrival yet. If I have, I’ll write,” the diplomat said.

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AIR TRAFFIC BETWEEN UKRAINE AND AUSTRIA MAY RESUME AFTER JUNE 23

Air traffic between Ukraine and Austria may resume after June 23, provided that both countries open airspace and remove restrictions on the entry of citizens, Ukrainian Ambassador to Austria Olexander Scherba has said.
“Regarding the situation with the restoration of air traffic between Ukraine and Austria. There is a possibility that flights will resume after June 23 provided that both countries “open” for each other in terms of opening airspace and in terms of lifting restrictions on entry of citizens. There is such a desire. It is very important that Ukraine pass the conditional peak of the pandemic,” the ambassador wrote on Facebook

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VOLUME OF REINSURANCE BY UKRAINIAN INSURERS IN AUSTRIA IN 2019 GREW 2.5-FOLD

The volume of reinsurance by Ukrainian insurers in Austria in 2019 grew 2.5-fold, to UAH 639 million, being 19.4% of the total reinsurance volume abroad (8.5% in 2018), according to a posting on the website of the National Commission for Financial Service Markets Regulation of Ukraine.
The share of reinsurance in Germany increased from 18.6% in 2018 to 22.3% in 2019 (to UAH 535 million), the U.K. it decreased from 23.7% to 17.3%, to UAH 569.9 million, Poland it decreased from 12.4% to 10% (UAH 331.3 million), in Switzerland decreased from 10.6% to 7% (UAH 229.8 million), in France increased to 6% from 5% (UAH 196.8 million), in the United States decreased from 4.2% to 3.6% (UAH 119.6 million).
According to the regulator, outbound reinsurance operations for the reporting period decreased 6.8%, to UAH 16.713 billion. In addition, reinsurance with nonresident reinsurers increased 10%, to UAH 3.298 billion.
Payments compensated by resident reinsurers amounted to UAH 297.8 million, which is 30.9% less than in 2018, for nonresident reinsurers it was UAH 2.21 billion, or 9% more than in 2018.
In relation to gross insurance premiums, the share of outbound reinsurance as at December 31, 2019 was 31.5%, which is 4.8 percentage points less than on the same date a year earlier.

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COMPANIES FROM GERMANY, POLAND, NETHERLANDS, AUSTRIA AND TURKEY WANT TO PARTICIPATE IN WASTE RECYCLING PLANT CONSTRUCTION IN UKRAINE

Four companies filed documents to participate in the tender for the construction of a waste recycling complex in Lviv, Mayor of the city Andriy Sadovy has written on his Facebook page. “Lviv-based municipal enterprise Zelene Misto Green City received technical proposals from four participants (due to pandemic the European Bank for Reconstruction and Development approved that this may be online),” the mayor of Lviv said.
According to him, the documents were submitted by the following companies: Eggersmann Anlagenbau GmbH (Germany), Control Process S.A. (Poland), consortium of two companies WTT (Netherlands) and Axis (Lithuania), consortium of two companies MUT (Austria) and Dogusan (Turkey).
“Each of these companies has implemented at least four similar projects. Such experience is a guarantee of quality for us. The plant must be environmentally safe, this is the main criterion when choosing a contractor,” Sadovy said.
According to the mayor of Lviv, preparatory work is currently underway on the site allocated for the construction of the plant.
According to the City Council, the design capacity of the plant should be 240,000 tonnes of waste per year when working on a double-shift basis.

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COMPANIES FROM AUSTRIA WANT TO ACQUIRE CONTROL OVER YUG-CONTRACT

The Anti-Monopoly Committee of Ukraine (AMCU) is taking a decision if to permit GEN.Holding GmbH and VAMA Holding GmbH Austrian Companies to acquire control over Yug-Contract Group Ltd. (Cyprus).
The respective issue was put onto commission’s agenda on July 25. However, no decision over this issue has been announced yet.
According to the open sources, GEN Group Ltd owned by Foxtrot Group of Companies Director General Hennadiy Vykhodtsev is 100% shareholder of GEN. Holding GmbH. Meanwhile, VAMA Group Ltd. owned by another director of Foxtrot Group Valeriy Makovetsky is 100% shareholder of VAMA Holding GmBh.
Yug-Contract Group was based in Yalta in 1994. The company distributes items of IT and consumer electronics.
In 2009, Yug-Contract united with Foxtrot-IT and now has a multi-product portfolio.

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