Business news from Ukraine

UKRAINIAN PHARMACEUTICAL COMPANY FARMAK PLANS TO DEVELOP R&D CLUSTER IN KIEV

The Farmak pharmaceutical company (Kyiv), thanks to the decision of Kyiv City Council to sell a land plot to the pharmaceutical company, plans to develop an R&D cluster project.
According to a press release on the company’s website, on February 11 this year, Kyiv City Council, by an absolute majority of votes, decided to sell the company the land on which the production facilities of Farmak plant have been located for 95 years.
The intended use of land defined by the document is the operation and maintenance of a complex of buildings and structures.
“Farmak expresses gratitude to the deputies for supporting the development of a virtuous and transparent business. Production facilities, research facilities, the laboratory and technical complex of the enterprise are internationally certified and meet the high requirements of European standards. Now, thanks to the positive decision of the city council, we will be able to implement another ambitious project – the creation of a pharmaceutical R&D cluster to build up scientific and technical potential,” executive director of the company Volodymyr Kostiuk said.
He recalled that over the past 25 years, Farmak has invested more than $ 300 million in the modernization of the enterprise.
Technical director of Farmak Andriy Goy, in turn, emphasized that the creation of the R&D cluster will be a step forward towards the development of biomedical research and development in Ukraine and an important step towards the transformation of Kyiv into the capital of the European level.
“The main capital of Kyiv should be precisely an intellectual product,” he said.
The company is confident that the emergence of an R&D cluster will contribute to an increase in revenues to the city budget from knowledge-intensive sectors of the economy.

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UKRAINIAN PRESIDENT PROPOSES TO FOUNDER OF ALIBABA GROUP JACK MA TO OPEN R&D CENTER

Ukrainian President Volodymyr Zelensky has proposed to the founder of Alibaba Group Jack Ma to open an R&D center in Ukraine for expanding operations in Europe.
Zelensky expressed interest in cooperation during a meeting with Ma in Kyiv, the president’s press service reported last week.
“We have very ambitious goals. We want to completely reboot Ukraine so that people like you appear in the country,” Zelensky said during the meeting.
He told Ma about the State in a Smartphone project and stressed the importance of digital technology in transforming the country. He said that he was interested in joint educational projects in the field of information technology.
Zelensky also said that Ukraine has one of the best data analytics specialists in the world and can offer a really strong expertise to create a data analytics and artificial intelligence center.

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