Business news from Ukraine

PRESIDENT OF UKRAINE AND BILLIONAIRE LAKSHMI MITTAL DISCUSS DEVELOPMENT OF GREEN METALLURGY

President of Ukraine Volodymyr Zelensky met with ArcelorMittal Chairman and CEO Lakshmi Mittal, where the sides discussed the development of green metallurgy and increased investment in Ukraine, taking into account environmental characteristics due to international standards. According to the presidential press service on Wednesday, the company, as the largest foreign investor in Ukraine and one of the largest steel producers in the world, will launch the Steel Billion investment program in our country, which provides for investments of almost $1 billion in the ecological modernization of steel production in Kryvy Rih.
“Investments in the Ukrainian economy and the environment are a positive signal for all investors, to whom we will provide comprehensive support,” Zelensky said.
He also pointed out the need to finish the modernization of coke-chemical, sinter and blast-furnace production as soon as possible, which are the largest pollutants. The company confirmed its readiness to complete this program by the end of 2023.
The meeting was attended by First Assistant to the President Serhiy Shefir; Deputy Heads of the President’s Office Ihor Zhovkva and Yulia Svyrydenko; Director of JSC Helios Rostyslav Shurma; CEO of ArcelorMittal CIS Vijay Goyal; CEO of JSC ArcelorMittal Kryvyi Rih Mauro Longobardo.

, ,

ANTIMONOPOLY COMMITTEE OF UKRAINE ALLOWS MIX LINE TO GET OVER 25% IN ODESA AIRPORT DEVELOPMENT

Mix Line LLC (Chornomorsk, Odesa region), which organizes cargo transportation, can buy shares of Odesa Airport Development LLC (Kyiv), which will provide the buyer with over 25% of the voting shares on the company’s board.
According to the Antimonopoly Committee of Ukraine (AMCU), it provided Mix Line LLC with the appropriate permissions on February 4.
The founder of Mix Line LLC is Liudmyla Shinkarenko. She is also the founder of Agro-Aldmish LLC and Phoenix Security Agency LLC.
As reported, in 2011, the disposal of municipal property of Odesa International Airport took place in favor of economic entities. The alienation took place as a result of the creation by Odesa City Council and Odesa Airport Development, the beneficial owners of which at that time were known local Odesa entrepreneurs Borys Kaufman and Oleksandr Hranovsky, of Odesa International Airport LLC, in whose charter capital the property of municipal enterprise Odesa International Airport was transferred. At the same time, the city’s share in the newly created company was only 25%.

, , ,

EU INTENDS TO PROVIDE UKRAINE WITH EUR 20 MLN OF FINANCIAL SUPPORT FOR DIGITAL TRANSFORMATION DEVELOPMENT

The EU intends to provide Ukraine with EUR 20 million of financial support for the digital transformation development, Deputy Prime Minister, Minister of Digital Transformation Mykhailo Fedorov said.
“EUR 9.6 million is the first financial contribution that Ukraine will receive under the EU4DigitalUA project. The Estonia’s e-Governance Academy and the Spanish foundation FIIAPP Spain will help in the implementation of projects on electronic services, cybersecurity, data protection, and the development of registries,” Fedorov wrote on the Facebook.
He wrote that funding will also cover: development of infrastructure for electronic government; modernization of public e-services and development of services on the Diia (Action) portal and in the Dia app; visualization of information about access to broadband Internet in Ukraine; further connection of the main registers to the Trembita data exchange system; development of a national personal identifier, a state digital identity card and a register registration addresses of citizens; development of trust services.
“Support of digitalization in Ukraine is at the same time support of all key reforms and anti-corruption. The country will receive more qualitative changes. We are grateful to the EU for their trust and we act together,” Fedorov wrote.

, , ,

LITHUANIAN COMPANIES INCREASE NUMBER OF REQUESTS FOR BUSINESS DEVELOPMENT IN UKRAINE

The number of requests from Lithuanian enterprises for business development in Ukraine, search for new partners has increased, Ambassador of Lithuania to Ukraine Valdemaras Sarapinas has said.
“From our own experience, we can say that now we see an increase in requests from Lithuanian enterprises for business development in Ukraine, searching for new partners. By the way, the same can be said about Ukrainian enterprises. We observe especially great potential in the introduction of electronic services, as Lithuania has vast experience in this area and is ready to share it with Ukraine,” Sarapinas told Interfax-Ukraine.
He also said that a reduction in the supply chain can also reveal new opportunities for both Lithuania and Ukraine.
“Lithuania can also become an excellent platform from which Ukrainian enterprises can significantly increase their exports to the West. By way of example, I can cite Kormotech company, which moved part of its activities to Lithuania, and this made it possible to take advantage of the EU financial policy and increase its competitiveness in Europe and other markets,” the diplomat said.
At the same time, Sarapinas said that Lithuanian business in Ukraine is faced with such problems as non-transparency of the judicial system, unequal conditions of competition, and administrative pressure on business.
“I am not a businessman, so I can only convey the position that I hear when communicating with our entrepreneurs: Lithuanian business, as, by the way, investors from other foreign countries or local Ukrainian entrepreneurs face the same problems, namely, the lack of transparency of the judicial system, different conditions of competition, administrative pressure on business. In the area of combating these problems, Lithuania and other Western partners are ready to share their experience,” he said.
The ambassador also said that there are several large Lithuanian companies that are now planning investment projects in Ukraine, however, negotiations are underway on this matter.
“It was recently announced that the Novus retail chain, which is operated by the BT Invest investment company, is buying 35 Billa stores. This is the fairly large investment: according to market analysts, the deal is worth about EUR 65 million. There are also few more large Lithuanian companies that are now planning investment projects in Ukraine, however, now it would be better to refrain from commenting, since negotiations are underway,” he said.

, ,

UKRAINE’S GOVT BACKS DEVELOPMENT OF GOVT PROGRAM FOR DEVELOPMENT OF FOLK ARTS, CRAFTS FOR 2021-2025

The Cabinet of Ministers of Ukraine has supported the development of a government targeted program of the Ministry of Culture and Information Policy for the development of folk arts and crafts for 2021-2025.
The decision was made at a government meeting on Wednesday.
“Although the craft was and remains the hallmark of Ukraine, today it is in a state of decline and gradual oblivion. The number of craftsmen and organizations is decreasing. Rare artistic techniques and technologies are in danger of extinction. Therefore, folk arts and crafts will exist,” Minister of Culture and Information Policy Oleksandr Tkachenko wrote on his Telegram channel.
According to him, thanks to this program, the authorities are trying to: preserve and transfer the knowledge of the masters; reboot the perception of products and services domestically through marketing and communications; increase the capitalization of brands of folk crafts and their export potential; and set up competent distribution and logistics of goods.
“Folk arts and crafts are one of the most important authentic branches of our culture and, at the same time, a promising sector of creative industries. Behind it is the creation of added value and new jobs,” the minister said.

, , ,

PRESIDENT OF UKRAINE SIGNS LAW ON PROMOTING DEVELOPMENT OF PHYSICAL CULTURE, SPORTS

President of Ukraine Volodymyr Zelensky signed law No. 910-IX on amendments to certain laws of Ukraine concerning the promotion of physical culture and sports, the presidential press service said.
“The document is aimed at supporting and developing the sphere of physical culture and sports. The law provides for the granting of the right to lease state-owned and municipal property without an auction to state-owned and municipal sports clubs, youth sports schools, schools of higher sports skills, Olympic training centers, physical culture and health-improving facilities, centers of physical health of the population, centers of physical culture and sports for persons with disabilities, as well as bases of Olympic, Paralympic and Deflympic training,” the presidential press service said.
In addition, the document coordinates the terminology of the current legislation in the field of physical culture and sports with the law of Ukraine on education, in particular, the term “teaching establishment” has been replaced by the term “educational institution.”
The law comes into force one month after the date of its publication.

, , , ,