Business news from Ukraine

POROSHENKO OPENS NEW BESKYDSKY RAILWAY TUNNEL

President of Ukraine Petro Poroshenko has opened a new Beskydsky railway tunnel.
“I am confident that this is a symbol of effective cooperation of Ukraine with the European Union, it is a symbol of increasing revenues to the national budget, it is a symbol of creating new high-paying jobs in Ukraine both in the economy and on the railroad,” Poroshenko said at the ceremony of opening the tunnel in Zakarpattia region.
According to him, this tunnel is part of the international transport 1,500-kilometer corridor Trieste-Ljubljana-Budapest-Bratislava-Uzhgorod-Lviv.
The head of state noted that the tunnel “tightly linked” Lviv region and Zakarpattia region.
The president noted that the construction of the new tunnel was started in 2014 (the old one was built in 1886).
According to him, 60% of the export flow, which is transported by rail, goes through the Beskydsky tunnel.
Poroshenko said that the old tunnel allowed 40-45 pairs of trains a day, while the new tunnel more than 100 at a speed of 60 km/h, which is 20 km/h more than the speed in the old tunnel.

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PRESIDENT POROSHENKO RECEIVES UAH 16,303,874 INCOME IN 2017 ACCORDING TO DECLARATION

Ukrainian President Petro Poroshenko’s income in 2017 has totaled UAH 16,303,874, of which 18% were returned to the state in the form of personal income tax levied on the wages and the deposits, and 1.5% in military tax. “The total amount of income received by Petro Poroshenko in 2017 is UAH 16,303,874, of them UAH 336,000 is salary, which the head of state annually remits to charity, and a total of UAH 15,795,874 in interest on deposits. These and other data can be found in the electronic declaration of Petro Poroshenko for 2017, which will appear in the public domain today,” according to the press release posted on the president’s website on Friday. The amount of funds on Poroshenko’s bank accounts have decreased over a year by $430,000.
According to the law, the president declared the expenses for the previous year – including the funds that were spent on vacation. This money was officially transferred in non-cash form from previously declared own accounts in compliance with the banking and tax legislation of Ukraine.
The report says that the amount of declared vacation expenses is half the figure that appeared in the media. “Not a penny was spent from the state budget,” the press service assured.
Last year, Poroshenko did not receive dividends from enterprises, whose ultimate beneficiary he is.

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POROSHENKO ON QATAR TALKS: IT IS POWERFUL IMPETUS INTENSIFYING UKRAINE’S COOPERATION WITH GULF COUNTRIES

President of Ukraine Petro Poroshenko has said that during his official visit to Qatar intensive negotiations have taken place resulting in a number of extremely important agreements.
“I am confident that it is a powerful impetus that significantly intensifies Ukraine’s cooperation with the Gulf countries, particularly Kuwait and Qatar,” the president’s press service quoted him on Tuesday.
The president says that Qatar is investing money now to ensure the diversification of food security and Ukraine plays an extremely important role here. According to him, unique opportunities are opening up for us.
“Ukrainian enterprises are represented here on the Qatar International Agricultural Exhibition 2018. We met with both business representatives of Kuwait and Qatar. We expanded extraordinary opportunities for possible investments both in Ukraine and in Qatar,” Poroshenko said.
According to him, Ukrainian constructors are waiting for the reconstruction of infrastructure in preparation for the FIFA World Cup 2022, which will be held in Qatar. In particular, hotels, stadiums, traffic junctions will be built. He expressed confidence that in the near future, several well-known Ukrainian companies would take part in the tenders.
“A number of extremely important documents have been signed. In particular, documents on investment promotion – mutual protection of investments and avoidance of double taxation,” the president said.
He also informed that an “ambitious document” on military-technical cooperation had been signed. He added that the scope of bilateral cooperation with Qatar in the defense industry would be very broad. “I am very pleased with the results of these talks,” he said, adding that in the near future there would be visits of groups that would work out specific areas of cooperation.
The president also announced the establishment of an intergovernmental joint commission on economic, trade and technical cooperation. He said that he had reached an agreement with the Emir of the State of Qatar that the first constituent meeting of that commission would be held in a few months.
Poroshenko also noted that the Memorandum of Understanding between Taras Shevchenko National University of Kyiv and the Qatar University had been signed, providing for the exchange of students and lecturers.
Also, the parties discussed the possibility for Ukrainian military and diplomats to study Arabic language in Qatar.

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