Business news from Ukraine

Ukrainian GlobalLogic opens office in Romania

Ukrainian GlobalLogic, an IT company of the Hitachi group, has announced the acquisition of Fortech, a leading Romanian software development company.
Fortech is headquartered in Cluj-Napoca and is one of the largest digital engineering companies in Romania, GlobalLogic said on Wednesday.
The terms of the transaction were not disclosed. Under the agreement, Fortech will continue to operate with its existing leadership and staff as a wholly owned subsidiary of GlobalLogic. The transaction is subject to customary regulatory approval and is expected to close by the end of Calendar Q4, 2022. The transaction will strengthen GlobalLogic’s presence in Europe by opening up access to Romania’s strong talent pool and Blue-Chip’s customer base.
In addition, GlobalLogic has opened an office in Bucharest and is inviting engineers to join the company in Romania.
“Fortech is a leading firm with proven track record and specialization in technology that is needed for digital evolution. This acquisition will further enhance GlobalLogic’s presence in Europe and accelerate our access to the rich technical talent in Romania; it will arm Fortech with the resources and strong backing of GlobalLogic and Hitachi,” Nitesh Banga, President and CEO of GlobalLogic, said.
Fortech was founded in 2003, and it cooperates with more than 1,100 specialists. With offices in four cities in Romania, it provides a full range of digital engineering services including architecture design, software development, DevOps, QA and data analytics. It specializes in Cloud, IOT and SaaS.
The press release states that GlobalLogic’s investment in Fortech is part of the company’s multi-year strategy to increase its value in the European market and help better serve customers around the world.

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The UN plans to open an office of the food organization FAO in Ukraine in Kyiv

The Cabinet of Ministers of Ukraine has agreed on the signing of an agreement between the government of the country and the Food and Agriculture Organization of the United Nations (FAO) on the establishment of a project office in the country to provide it with technical and humanitarian assistance in the face of Russian military aggression.

As reported on the website of the Ministry of Economy of Ukraine on Tuesday, the Cabinet of Ministers on September 27 authorized First Vice Prime Minister – Minister of Economy Yulia Sviridenko to sign this agreement.

“Ukraine has long and fruitfully cooperated with the FAO, an organization whose mission is to fight hunger around the world. Our state has been and remains the breadbasket of Europe and the world, but because of the war unleashed by Russia, we already need help. FAO provides it, in in particular, by implementing jointly with the governments of the partner countries programs to support Ukrainian farmers,” Sviridenko was quoted as saying by the ministry.

It is specified that with the start of a full-scale invasion of the Russian Federation into Ukraine, FAO has updated a rapid response plan to help Ukrainian small and medium-sized farmers and agricultural producers. As of mid-August, the organization provided emergency assistance in the form of seed material and cash for 80,000 people in 13 regions of Ukraine.

In addition, FAO and the Government of Ukraine, with the financial support of Japan and Canada, are implementing projects to restore grain storage capacities in the warring country, which provide for the supply of equipment for loading and unloading grain, modular storage containers, etc. to Ukrainian farmers from 10 regions.

According to the Ministry of Economy, the implementation of a rapid response plan and a strategy to increase grain storage capacity in Ukraine will cost FAO and its partners a total of $180.4 million.

“The adoption of the Agreement and the creation of an FAO office in Ukraine will allow raising cooperation to a higher level … We expect closer coordination in matters of grain exports. Ukraine will continue to help countries where the issue of food is acute. In the future, cooperation will contribute to the growth of Ukrainian exports and the achievement of our the goal is to create an export-oriented economy with high added value,” Sviridenko summed up in the message of the Ministry of Economy.

FAO is a UN agency dedicated to ensuring world food security, improving nutrition and living standards in its member countries. The organization consists of 194 countries, Ukraine joined it in 2003.

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Ukrainian IT company opens office in Japan

Ukrainian IT company CHI Software has opened an office in Kobe (Japan).
“Over the past year, with the support of Ukrainian diplomats, the IT Ukraine Association, together with the government of Kobe, organized a number of meetings and webinars, where the Japanese side got acquainted with technological solutions and high-quality IT services from Ukraine. The result of cooperation was the opening of an office of the Ukrainian IT company CHI Software in Kobe,” a statement on the Foreign Ministry’s website said on Thursday.
According to the Minister of Foreign Affairs of Ukraine Dmytro Kuleba, the Ministry of Foreign Affairs began to systematically create new opportunities for cooperation with foreign partners for Ukrainian IT companies back in the spring of last year.
“This work brings results that have become especially relevant during a full-scale war. After all, the stability of the Ukrainian economy is extremely important for winning the war, and every successful negotiation, every new contract, every open office further strengthens it. Ukrainian diplomats are making every effort to provide assistance business and work for results together with exporters,” Kuleba said.
The IT Export Boost project started on March 5, 2021. Its main task is to promote IT exports in foreign markets thanks to the capabilities of the network of diplomatic missions of the Ministry of Foreign Affairs of Ukraine abroad.
The IT Ukraine Association is the largest specialized association of Ukrainian service and product companies of various sizes in Ukraine. As of December 2021, she represented 120 companies and over 82,000 IT professionals. The task of the association is to provide favorable conditions for the sustainable development of the information technology sector in the country.

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AMERICAN COMPANY PALANTIR READY TO OPEN OFFICE IN UKRAINE AND START JOINT DEVELOPMENT

The American company Palantir, a developer of data analysis software for organizations, is ready to become a partner of Ukraine in the defense, security and digital technologies sector, Deputy Prime Minister – Minister of Digital Transformation of Ukraine Mykhailo Fedorov said.
“Today, together with Volodymyr Zelensky, we’ve met with Palantir CEO Alex Karp. Palantir is the world leader in the development of data analysis software. The company’s products are used by the US Department of Defense, large investment banks and hedge funds. I would like to thank Palantir CEO Alex Karp, who responded to the invitation of the Ministry of Digital Transformation and was the first of the general directors of large Western corporations to personally come to Ukraine,” the minister said on Telegram.
According to him, the company is ready to open an office in Ukraine and start joint developments with Ukrainian specialists.
“Further cooperation with Palantir will help strengthen our army and defeat the enemy as soon as possible, because technology plays a big role in modern warfare,” Fedorov stressed.
Palantir is an American company that develops data analysis software for organizations, the main customers are intelligence agencies, investment banks, and hedge funds. It was founded in 2003 by a group of investors who came from PayPal.

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WASHINGTON POST OPENS OFFICE IN KYIV

The Washington Post creates a new bureau in Kyiv , which will be headed by Isabel Khurshudyan.
Max Berak will be the chief correspondent of the Ukrainian bureau. This important step signals the publication’s long-term commitment to covering Russia’s war against Ukraine, as it will continue to be this year’s top story.

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PM OF UKRAINE WELCOMES ORGANIZATION FOR ECONOMIC COOPERATION AND DEVELOPMENT INTENTION TO OPEN OFFICE IN KYIV

At a meeting with Secretary-General of the Organization for Economic Cooperation and Development (OECD) Mathias Cormann, Prime Minister of Ukraine Denys Shmyhal welcomed the intention of the OECD to open a regional office in Kyiv.
“I informed the OECD Secretary-General about the creation in Ukraine of a plan and a fund for the restoration of our state. We strive to change the country and the economic model, based on the best world standards. Our goal is based on the principles promoted by the Ukrainian people: a European future, a transparent state and an open economy,” Shmyhal said on his Telegram channel following the meeting.
The prime minister said it is important for Ukraine to use the best practices of the OECD and implement them in the near future.
“I welcomed the intention to open a regional office of the OECD in Kyiv, this is an excellent opportunity to strengthen and accelerate our cooperation,” Shmyhal said.
Shmyhal also said the ‘green’ economy is the basic principle of the new economic model of Ukraine.
“Russia has destroyed and continues to destroy our infrastructure. There is no point in returning to the old models, so we intend to restore it according to modern principles and the latest technologies,” he said.
In addition, the prime minister said that Ukraine intends to make corporatization even more efficient, and in this matter counts on active assistance from the OECD.

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