Business news from Ukraine


The Turkish manufacturer of drones Baykar is developing an investment project to build a research center for advanced technologies in aerospace engineering and a production center for drone assembly in Ukraine, Deputy Director General for Investments Natalya Ozden has said.
“Baykar intends to invest in Ukraine, and is currently developing a corresponding investment project,” she said during the International Defense Investment Forum in Kyiv.
According to her, the project provides for 100% investment by Baykar in the creation of a new research and development center, the creation of production facilities and drone assembly, as well as maintenance and repair shops with accompanying services.
At the same time, according to Ozden, there is a need for discussion about the incentives existing in Ukraine to support investors, in particular, those provided for by the laws on supporting projects with significant investments (the law on investment nannies) and on industrial parks.
“Investors want to come to Ukraine, and there are laws on supporting projects with significant investments, on industrial parks. But they do not work yet, we expect mechanisms for their implementation, and if we compare these projects, we see that the law on industrial parks provides more advantages than the law on investment projects,” she said.
She recalled that the law on investment nannies provides up to 30% of assistance from the state, but stressed that a foreign investor, when choosing a country for investment, compares several countries and opportunities, and chooses the most appropriate incentives for him.
Baykar was founded more than 30 years ago, and during this time has gone from a manufacturer of car parts to the world’s leading manufacturer of drones with 1,600 employees.

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Turkish Aksa Enerji Uretim A.Ş. plans to invest in the construction of a combined cycle power plant in Izmail (Odesa region) with a capacity of 260 MW.
A memorandum of understanding between the Odesa Regional State Administration, the Izmail City Council, Aksa Enerji and Marzhinal LLC (Mykolaiv, the ultimate beneficiaries are a number of Turkish individuals) was signed on August 9, according to the Regional State Administration’s Facebook page.
According to the report, Aksa Enerji is ready to invest in the construction of the plant and accompany its operation on the basis of a 25-year agreement on the purchase of electricity, with subsequent transfer to the state ownership.
“The power plant will consist of a gas turbine and/or engines and a steam turbine with a total installed capacity of 260 MW, and all power plant equipment, including all related substation equipment such as step-up transformers and switchgear, will be provided, installed and commissioned by Aksa,” Vice-Chairman of Aksa Enerji Serdar Nişli said.

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Farmak pharmaceutical company (Kyiv) is investing EUR 30 million in the construction of an innovative research R&D center in Kyiv.
According to a press release from the company, the center is to open in 2023.
According to Executive Director of Farmak Volodymyr Kostiuk, the decision to build an R&D center was made a few years ago due to the expansion of the geography of presence and the portfolio of medicines.
In the new center, in particular, analytical laboratories will be concentrated, they will have about a hundred liquid and gas chromatographs and a number of modern devices for the development and testing of drugs.
In addition, the R&D center will house a technological laboratory with equipment for the development of finished drugs with various methods of their delivery to the human body and the implementation of personalized medicine protocols of the 21st century.
In the new R&D center, it is planned to continue working in three main areas: finished dosage forms, proprietary active pharmaceutical ingredients, as well as an innovative area in which Farmak has been working since 2015 – biotechnological active pharmaceutical ingredients. All processes will be digitized.
In addition, on the basis of the new complex, a special location will be equipped for young scientists who are not employees of the company, where they can engage in scientific activities and create prototypes of drugs.
The concept design of the complex was developed by Makhno Studio.
Farmak is the leader of the Ukrainian pharmaceutical market. The company’s product portfolio includes about 200 brands. Among the main directions are endocrinological, gastroenterological, cardiological, neurological, anti-cold and other drugs.

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DTEK Energy Holding has not abandoned plans to invest in the generation of electricity from renewable sources in Europe, and is now exploring opportunities for this in different countries, CEO of DTEK Renewables Maris Kuniсkis has said.
“Yes, this is in our focus. Plans to invest in Europe remain. As long as there is no stability in Ukraine, we focus on abroad,” he said during the 12th International Ukrainian Energy Forum of the Adam Smith Institute on Friday.
At the same time, he said that, since the market in Europe is also changing, the company has to reorient itself to other countries, abandoning the development of projects in those that were considered in 2020. In addition, Kuniсkis did not disclose the details of possible projects.

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Investments in the project for the creation and development of the International European University in Kyiv exceeded $3 million during the first year of its development, founder and vice-rector for scientific, pedagogical work and international relations of the university Alla Navolokina told the Interfax-Ukraine agency after a press conference at the agency on Thursday.
“Today, 850 foreign students from more than 40 countries of the world study at our university,” the vice-rector clarified.

According to her, training in scientific and educational institutions is carried out in seven areas: business school, architectural and engineering, language, medical, IT, law and art school. As part of the implementation of European education standards, students can choose freely more than 25% of subjects, not only in their professional filed, Navolokina specified.
She added that another feature of the university is a lifelong learning system – up to 93 years.
Chairman of the Development Assistance Council of the International European University, Academician of the Academy of Pedagogical Sciences of Ukraine Anatoliy Tolstoukhov noted at the press conference that the university seeks to bring Ukrainian education to a new quality level.

“Today, the process of consolidation of universities has begun in the world: along with schools, there will be much less of them. The specificity of our university is that at least two-thirds of students must be representatives of other countries,” he said.
According to him, such a scheme makes it possible to enrich the experience of world education in Ukraine.
Navolokina added that all teachers, students and junior staff at the university are fluent in English.
The International European University, according to the information on its website, was founded in Kyiv in 2019. Citizens of Ukraine and Austria are among its co-founders. The university has its own educational building at 1b Mahnitogorska Street in Kyiv.
According to the state register, the owner of a private institution of higher education “International European University” with an authorized capital of UAH 14.2 million through Polimed-K LLC is Serhiy Ryzhkov.

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President of Ukraine Volodymyr Zelensky has called on representatives of the French business MEDEF International, who are on an official visit to the country, to participate in investment projects in Ukraine, the press service of the head of state reports.
In particular, the president drew the attention of investors to the implementation of the Big Construction national program. He called on French business to take part in the modernization of the road infrastructure of Ukraine within the framework of public-private partnership projects.
Among the large-scale investment projects, Zelensky also named railway communication, IT sphere, modernization and management of ports, airports, construction of metro and underground tunnels, etc. At the same time, the head of state emphasized the need to localize production in Ukraine.
Zelensky also proposed that Airbus, with which there is already a contract for the supply of helicopters, consider the possibility of participating in the implementation of a project to create a national Ukrainian air carrier and study the issue of attracting Ukraine to the production of the company’s products.
French businessmen confirmed their interest in cooperation in the mentioned areas.
“Today France is the sixth largest investment in Ukraine. Not a bad indicator, we can be glad. But we understand that it is better and much more can be done,” Geoffroy Roux de Bézieux, the president of MEDEF association, said.
Reportedly, some of the Ukrainian-French investment projects are already underway.
“A contract has been signed with Alstom company for the supply of 120 locomotives for the Ukrainian railway with partial localization of production in Ukraine (in the amount of 35%),” the report says.
In total, Ukraine and France have recently concluded intergovernmental agreements for more than EUR 1.3 billion.
The delegation of MEDEF association, which arrived in Ukraine, includes representatives of 20 large French companies from many sectors.

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