Business news from Ukraine

UKRAINE, SLOVAKIA TO COOPERATE IN DEVELOPMENT OF TRANSPORT

Ukrainian Infrastructure Minister Vladyslav Krykliy and Minister of Transport and Construction of the Slovak Republic Andrej Doležal signed a memorandum of cooperation within the Silk Road Economic Belt.
The press service of the Infrastructure Ministry said on Thursday that the document will contribute to creating conditions for the further development of multimodal transport in transfer between Asia and the EU through Ukraine and Slovakia, as well as for increasing the number of container block trains that will be used for combined freight transport; putting into practice the implementation of the project on the creation of multimodal logistics centers that will handle cargo on the Silk Road route, which will make it possible to form an appropriate bilateral working group and create a basis for negotiations with the Chinese side; developing a common approach to organizing the movement of container trains running between Asia and the EU through Ukraine and Slovakia.
“Both Ukraine and Slovakia are extremely interested in developing their transit potential and improving the processes of organizing the delivery of goods in containers from the EU countries to China and vice versa. In early September, we held consultations with the Slovak side to intensify cooperation in the development of the Silk Road through the territory of Ukraine and Slovakia. Today we are fixing them with the relevant memorandum,” the press service said, citing Vladyslav Krykliy.
The ministry said that the memorandum has been drawn up for an indefinite period and will enter into force on Thursday, September 24.
In addition, according to the ministry, during a meeting with the Slovak side, the Minister of Infrastructure confirmed the readiness to intensify the work of the Ukrainian and Slovak sides on the development of logistics terminals in Chop, Mukacheve and Košice and proposed a joint search for financial resources for the implementation of the Creation of Multimodal Logistics Center Between Ukraine and Slovakia Based on the Existing Terminal in Chop project.

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ECONOMIC RECOVERY CENTER TO BECOME PLATFORM FOR DEVELOPMENT OF UKRAINE’S NATIONAL ECONOMIC STRATEGY

Around 60 companies and at least 30 think tanks have united to set up the Economic Recovery Center, on the base of which the National Economic Strategy 2030 will be developed, a co-founder of the center, Andriy Dlyhach, said.
“The Economic Recovery Center has become the government’s platform for the development of the economic strategy of Ukraine,” he said on Facebook, following a meeting of the top managers and owners of the largest Ukrainian companies with Prime Minister of Ukraine Denys Shmyhal and Governor of the National Bank of Ukraine Kyrylo Shevchenko on August 14.
According to the information on the Center’s website, the platform brought together 30 Ukrainian think tanks and 60 business representatives. The think tanks include the Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine, Advanter Group, Razumkov Center, Ukrainian Institute for the Future, Ukrainian Industry Expertise, and EasyBusiness.
The companies that have joined the platform include Allseeds, ArcelorMittal Kryvyi Rih, DTEK, Energomashspetsstal, Interpipe, Lemtrans, Metinvest, MHP, Naftogaz, SmartEnergy, Galicia, Tedis Ukraine, TIS, Nibulon, UkrLandFarming, UNIT, and Darnitsa.
Public discussions will start in September, first developments will be ready in October, the final document and a series of the government’s instructions, bills and state targeted programs for 2021 with the launch of financing will be presented in December, Dlyhach said.

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SWEDISH COMPANY ACQUIRES COMPUTER GAME DEVELOPMENT COMPANY FROM UKRAINE

Swedish Embracer Group AB Holding (“Embracer”), through its wholly-owned subsidiary Saber Interactive, has entered into an agreement to acquire 100 percent of Kyiv/Malta-based 4A Games Limited (“4A Games”) famous for Metro 2033, Metro: Last Light и Metro Exodus games.
The deal amounts to $45 million, of which $25 million is paid in cash and $20 million in shares (50% of which will be unblocked in a year, and another 50% in two years), the Embracer reported on its website.
In addition, 4A Games will receive up to $35 million ($15 million in cash and $20 million in shares) if the publisher’s goals are met within five years. The total amount of the deal could be as big as $80 million.
At the same time, it is expected that gross sales of 4A Games’ games for 2020 will bring about EUR 20 million, and the studio’s operating profit will be EUR 12 million.
“Through the acquisition, Saber Interactive onboards a reputable team of over 150 people across two studios in Malta and Ukraine as well as best-in-class internally developed and owned First-Person-Shooter (FPS) technology to the Group,” the Embracer says.
“Embracer Group and Saber Interactive are the perfect partners for 4A Games and for our next phase of growth. Together we will continue to build on the Metro franchise and will focus on bringing a multiplayer experience to our fanbase. We look forward to building a new and even more ambitious AAA IP in the near future,” the company quoted Dean Sharpe, CEO 4A Games, as saying.
Embracer Group was formerly known as THQ Nordic AB. One of the subsidiaries; THQ Nordic GmbH shared the same name and trademark as the parent company, THQ Nordic AB (publ). The THQ Nordic GmbH brand and company will continue to operate as a global video game publisher and developer. The Group has an extensive catalogue of over 160 owned franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters, Satisfactory, Wreckfest and World War Z amongst many others.
With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its five operative groups: THQ Nordic GmbH, Koch Media GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest and Saber Interactive. The Group has 31 internal game development studios and is engaging more than 3,500 employees and contracted employers in more than 40 countries.
Embracer Group in the first quarter of fiscal year 2020 (April-June) reported an 81% increase in revenue up to SEK 2.069 billion ($238.3 million at current exchange rates), and its EBITDA grew 2.5 times – up to SEK 965.2 million.

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UKRAINIAN PRODUCER BIOCOR TECHNOLOGY ANNOUNCES DEVELOPMENT OF PCR TESTS FOR CORONAVIRUS

Kyiv-based Biocor Technology LTD, a Ukrainian producer of test systems, has announcement the development of PCR tests for coronavirus (COVID-19).
“At the beginning of July 2020, the diagnostics test kits for SARS-CoV-2 underwent state registration. Laboratories have started using the development. The price of the tests for SARS-CoV-2 is three times lower than the products of western producers,” the company said on a press release.
The tests are made of raw materials produced by Thermo Fisher Scientific.
Biocor Technology LTD will focus on the production and improvement of the product and will sell it through distributors, the company head, Oleksiy Sayutin, said.
The company has been developing PCR tests since 2018. It started to work on the tests for SARS-CoV-2 in February 2020.
Biocor Technology LTD produces various PCR tests. It is certified in line with international standards ISO 9001:2015 and ISO 13485:2016.
According to the state register, the founder and the beneficiary of the company is Maryna Byrsia.

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UKRAINE APPROVES STRATEGY FOR REGIONAL DEVELOPMENT

The Cabinet of Ministers of Ukraine at a meeting on August 5 approved the State Strategy for Regional Development for 2021-2027.
“The document was prepared by the Ministry of Regional Development. This important document is filled with new content, European approaches to the development of regions. I see this as one of the vectors of our movement and direction to the European Union,” Prime Minister of Ukraine Denys Shmyhal said during the meeting.
He added that the document took into account the issue of a new administrative-territorial structure, while stressing that there is no talk of any liquidation of some of the social infrastructure facilities.
According to the presentation of the strategy made by Minister of Communities and Territories Development Oleksiy Chernyshov, new functional types of territories were identified, as well as regions that are in the focus of regional policy: the mountainous territories of the Carpathians, the coastal zones of the Black and Azov Seas, nature reserves, border areas, including those on the contact lines, rural areas in unfavorable conditions, agglomerations, centers of economic growth, mono-functional cities, as well as temporarily occupied territories. For each functional region, the ministry has identified important development aspects.
The Ministry of Regional Development also began developing plans of measures to implement the strategy for the next three years, as well as aligning regional strategies. In addition, a draft law has been prepared on reforming the State Fund for Regional Development to finance the implementation of the state strategy.
“To achieve the set goals, the targeted use of funds from the state budget is critically important. Therefore, it is necessary to improve the system of financing regional development, including at the expense of the State Fund for Regional Development,” Chernyshov said

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DRAFT GENERAL PLAN OF KYIV INCLUDES RAILWAY TRANSPORT HUBS DEVELOPMENT

The draft general plan of Kyiv includes the construction of an external bypassing railroad from Nizhyn to Korosten directions for passing transit freight traffic which has overloaded the capital’s railway hubs recently.
The press service of Kyiv City State Administration said referring to the municipal organization Kyivgenplan on Wednesday that the main railway development measures include:
– construction of a railway junction at various levels near the Livy Bereh (Left Bank) stop;
– construction of additional running lines on the sections: Kyiv-Demiyivsky – Darnytsia, Zhuliany – Hlevakha, Kyiv – Myronivka;
– closure of 66 low-density line at ten freight stations;
– creation of three transport and storage facilities near Kozhukhivka in Vasylkivsky district, Kalynivka in Brovarsky district, Ukrainka at the facility with new freight districts of the river port;
– closure of freight stations and Kyiv-Tovarny, Kyiv-Dniprovsky yards, Kyiv-Pochaina freight yard, Kyiv-Pasazhyrsky hauling yard and Darnytsia sorting yard.
As reported, the draft general plan of Kyiv also envisages the construction of two new bus stations at Kyiv’s exits and shutdown of the Central Bus Station.

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