Business news from Ukraine

Ministry of Economy proposes a compromise in settlements between retailers and suppliers

The Ministry of Economy proposed at a meeting with food industry associations on October 11 that the terms of settlement of goods producers and retailers be set at 24-30 days as a compromise and slightly expand the list of goods for the effective uninterrupted work of both parties.
“We are trying to bring the positions of the parties closer. In particular, as a compromise option, we propose to set a settlement period of 24 or 30 days. If the parties do not agree, we will be forced to use other mechanisms, although the government is fundamentally against strengthening regulation,” the First Deputy Prime Minister is quoted as saying. – Minister of Economy Yulia Sviridenko press service of the department.
According to her, the issue of payments for delivered goods is really painful, since each of the parties believes that it is lending at its own expense to the other.
“We are talking, in particular, about payments for goods of significant social importance, and about debts for previously delivered goods. The government believes that the best solution is to coordinate the positions of manufacturers and sellers in the dialogue process and strengthen the discipline of payments,” Sviridenko said.
During the meeting, issues were also raised of providing food industries with preferential gas, lending to food and processing enterprises under the 5-7-9 program, uninterrupted supply of electricity to food industry enterprises during rolling blackouts, as well as issues of limiting the export of sunflower seeds and obtaining permission for transactions for certain types of import operations.
The Ministry of Economy noted that at present gas at preferential prices is received by enterprises of the baking industry and dairy products, and now the country does not have the opportunity to expand the corresponding list. As Sviridenko explained, first of all, it is necessary to provide the population with preferential gas, but, given the importance of the stable operation of enterprises in the industry, the issue of the possibility of purchasing additional volumes of gas for preferential supplies to the food industry will be worked out.
According to the agency, the head of the Ministry of Economy also supported the request of the food industry to include industry enterprises in the list of critical infrastructure, which will allow them to receive electricity even during rolling blackouts. According to her, this issue will be worked out with the Ministry of Energy and local authorities, which form the relevant lists.

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UKRAINIAN PRESIDENT ANNOUNCES COMPROMISE REACHED WITH ARCELORMITTAL

Ukrainian President Volodymyr Zelensky has announced a compromise has been reached with ArcelorMittal Kryvyi Rih, a mining and metallurgical plant in Kryvy Rih.
“They officially put the position, but we found some kind of framework – as of today. Because maybe something will change, I don’t know. We signed a paper for 400 million [hryvnias] – they need to build a cancer center,” Zelensky said during a press marathon in Kyiv on Thursday.
As reported, PJSC ArcelorMittal Kryvyi Rih will allocate EUR15 million (about UAH 400 million) for the construction of an oncology center in Kryvy Rih.
At the end of July, ArcelorMittal Kryvyi Rih said that the SBU Security Service of Ukraine had conducted searches at the enterprise as part of criminal proceedings opened against the enterprise for environmental pollution under Article 441 of the Criminal Code of Ukraine (ecocide).
Before that, Zelensky criticized ArcelorMittal Kryvyi Rih for having failed to meet the deadline to improve the environmental situation in the region and called for providing targeted financial support to those who suffered from harmful emissions into the atmosphere.

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