Business news from Ukraine

UKRAINE TO RETURN TO LAUNCH OF REGULAR FLIGHTS AFTER JUNE 15

The Cabinet of Ministers will return to the issue of resuming air transportation after June 15, 2020, Prime Minister Denys Shmyhal has said.
“As for the operation of airports and the launch of scheduled flights, we will return to this issue, obviously, after June 15, when airlines can fly somewhere. So far, the airports of our partner countries are closed,” the prime minister said during a government meeting.
So far, there is no point in renewing scheduled flights, he said.
“The possibility of international transportation, both bus and rail, will resume through open checkpoints that will work after the adoption of amendments to resolution No. 288. We do not yet open interregional traffic,” Shmyhal said, adding that interregional transportation could renew in early June.

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UKRAINIAN CITIZENS IN SOUTH AFRICA ASK FOREIGN MINISTER TO HELP THEM TO RETURN HOME

Ukrainians, who occurred in the South Republic of Africa during quarantine, have asked Foreign Minister of Ukraine to help them to return to the motherland. According to the submission letter, which is in disposal of Interfax-Ukraine, there are a woman with a chronic disease who needs prescribed medicine, seventh month pregnant woman, a woman with one year old child are among those who wish come back home.
“Most visas have expired long ago…The Ukrainian Embassy in South Africa provides us with as much information as possible, but nothing depends on them,” reads the letter.
Ukrainians ask to provide them guarantees for a speed returning home.
“We are ready to undergo self-isolation under the program Diy Vdoma. But first, we need to reach home. There are our compatriots in the neighboring African countries. Why can’t they grab us together all in all?,” reads the text of the letter.

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UKRAINE INTERNATIONAL AIRLINES TO CARRY OUT SPECIAL FLIGHTS TO RETURN CITIZENS FROM ABROAD

From May 1 to May 9, 2020, Ukraine International Airlines of Ukraine (UIA) will operate 11 special international flights for the repatriation of Ukrainian citizens and non-residents from abroad who have the right to enter our country.
The UIA press service said on Tuesday that the ticket sale will be opened for the following special flights:
– May 1, 2020: Amsterdam – Kyiv, Tel Aviv – Kyiv;
– May 3, 2020: Geneva – Kyiv, Dubai – Kyiv, Sharm El Sheikh – Kyiv;
– May 5, 2020: Toronto – Kyiv, Dortmund – Kyiv, Prague – Kyiv;
– May 7, 2020: Madrid – Kyiv, Milan – Kyiv;
– May 9, 2020: Munich – Kyiv.
In addition, foreign citizens, respectively, will be able to use UIA flights backward for departure from Ukraine on the same dates.

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PRESIDENT OF UKRAINE NAMES CITIES ABROAD FROM WHICH UKRAINIANS CAN RETURN TO UKRAINE FOR FREE OR AT REDUCED PRICES

President of Ukraine Volodymyr Zelensky has announced a list of cities abroad, from which Ukrainians will be able to return to their homeland for free or at reduced prices.
“We have formed so-called hub points. Once you get there, you will be able to get to Ukraine for free or at discounted prices. These are the cities of Istanbul, Dubai, Abu Dhabi, Prague, Berlin, Warsaw, Przemyśl, Vienna, Bratislava, Riga and Vilnius,” he said in his address in connection with the introduction of quarantine in the country.

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UKRAINIAN DOMESTIC BUSINESSES RETURN $500 MLN TO NATIONAL BUDGET

Foreign direct investment (FDI) made from domestic assets was estimated at $485 million in 2018 against $270 million in 2017, the National Bank of Ukraine (NBU) has said in its statement on the so-called “round-trip investment” (when a resident withdraws funds that are then returned to the country in the form of foreign direct investment).
The regulator noted that this amount was 20.6% of the total FDI in Ukraine in 2018, while in 2017 the share of round-trip investment was 10.4%, and 4.1% in 2016.
The central bank added that $106 million of the amount of $485 million mentioned above will be invested in banks (compared to $54 million last year). Round-trip investment in other sectors last year was estimated at $379 million ($216 million in 2017).
In 2010-2018 the volume of residents’ assets that were withdrawn abroad and then returned to Ukraine in the form of foreign investment was estimated at $8.4 billion, or 22% of the total FDI over this period.
According to the NBU, Ukrainian businesses conducted such transactions mostly via Cyprus ($4.1 billion), the Netherlands ($1.54 billion), Switzerland ($530 million), and Austria ($480 million).
The NBU plans to publish such data on an annual basis.

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