UkraineInvest plans to launch “Make in UA”  program

aimed at stimulating the investment market development for the entire country. “Make in UA” program highlights the most promising sectors and regions for placing production facilities in Ukraine, and provides recommendations on where to find the investors that will also help develop a network of industrial parks. “We are convinced that the future of Ukraine is to become a European manufacturing hub. In this context, we focus on medium-sized businesses, and envisage a healthy competition for investments among the Ukrainian

UkraineInvest has received 23 project applications from potential investors totaling more than $ 2 billion.

“There are investment nannies in Ukraine. UkraineInvest has been identified as a key institution with nine team members guiding large investment projects. To date, 23 investors have applied to take advantage of this law. The total amount they plan to invest in Ukraine is over $2 billion”, Prime Minister Denys Shmyhal said at a press conference.

Conference on the investment potential of Vinnytsia region.

It’s taking place in Vinnytsia on September 10 and will be organized jointly by the Government Investment Promotion Office UkraineInvest and Vinnytsia Regional State Administration. The event is an extension of the 8th International investment forum “Vinnytsia Region – Business in the Center of Ukraine”. Among the themes to be covered are the local investment potential, investment policy and regional development, and the development of Industrial parks.

International investors with 23 projects totaling $1.35 billion have applied for ‘investment nannies’ with UkraineInvest,

 announced Serhiy Tsivkach, the Executive Director of the investment promotion office (Interfax-Ukraine). The office has 14 employees working on the project, which is designed to cut red tape. This month, UkraineInvest plans to submit the first candidate projects to the Economy Ministry for approval.

The European Investment Bank will loan €75 million to buy new electric trams for Kharkiv,

reported Interfax-Ukraine. The first tram – a locally-assembled Czech Škoda – will be presented in September to Kharkiv, Ihor Terekhiv, the Acting Mayor, said last week at the UkraineInvest Talks in Dnipro. “We will completely renew the tram fleet in Kharkiv,” he said, referring to an estimated €100 million project.

Restaurants, gyms and shopping centers reopen in Ukraine today

Restaurants, gyms and shopping centers reopen in Ukraine today as the nation emerges from the coronavirus lockdown-imposed Jan. 8. Registered new infections are running at about 5,000 a day, about one third the peak of two months ago. “Epidemiologists record the stabilization of the situation,” Prime Minister Shmygal wrote Saturday on Facebook. “The number of occupied beds has decreased to less than 30%.” Kyiv city has a 32% occupancy rate of coronavirus beds and the nation’s fourth highest infection rate

Ukraine imported a record amount of wine last year — $180 million.

Ukraine imported a record amount of wine last year — $180 million. Top supplying countries are: Italy – $ 29 million; France – $ 27.5 million; and Georgia – $26 million. Over the last decade, Ukraine’s wine production dropped in half, partly due to the loss of Crimea, partly to due to red tape blocking small producers, and partly due to imports. EU exports to Ukraine are expected to increase this year after duties dropped to zero on Jan. 1.

China’s imports of Ukrainian grain are soaring during this marketing year

China’s imports of Ukrainian grain are soaring during this marketing year, the Ukrainian Grain Association reports, citing figures released Thursday at an Agro meeting at Ukraine’s Embassy in Beijing. In the first seven months of the grain marketing year, China has imported 6.9 million tons from Ukraine – more than the 6.3 million tons imported during the 2019/2020 marketing year. During the 2020 calendar year, China was the largest importer of Ukrainian grain, buying 20% of Ukraine’s total exports of

After the United States, Ukraine was the world’s second largest grain exporter in the marketing year that ended June 30

After the United States, Ukraine was the world’s second largest grain exporter in the marketing year that ended June 30, Taras Kachka, Deputy Minister of Agriculture and Economy, told the International Grains Council last week. Citing USDA figures, Kachka said Ukraine ranked 2nd in barley exports, 4th in corn exports and 5th in wheat exports. After a poor harvest this fall, Ukraine may fall behind. During the first seven months of the current marketing year, exports are down by 6.3

DHL and Ukrzaliznytsia plans to develop China-bound trade from UZ’s left bank rail wagon marshalling yard at Liski

DHL and Ukrzaliznytsia plans to develop China-bound trade from UZ’s left bank rail wagon marshalling yard at Liski, Logistics Manager, an Asia-oriented logistics news site, reports in a story headlined: “Full Steam Ahead for Ukraine & China to Drive Rail Connectivity.” Freight from Ukraine’s neighbors can be consolidated in Kyiv for shipping east in container trains. “There is a lot of excitement for those watching trade developments between China and Ukraine,” says Steve Huang, CEO of DHL Global Forwarding Greater

Ukraine saved $3.4 billion last year on oil imports, cutting its import bill by 36% yoy

Ukraine saved $3.4 billion last year on oil imports, cutting its import bill by 36% yoy, reports the State Customs Service. In volume terms, Ukraine cut imports by 5%, to 8 million tons. Top suppliers were: Russia – $1.2 billion; Belarus – $1.2 billion; Lithuania — $400 million.

Industrial production dropped last year by 5% yoy, reports the State Statistics Service. Manufacturing was down 7%

Industrial production dropped last year by 5% yoy, reports the State Statistics Service. Manufacturing was down 7%. Other big drops were: coal mining down 13%; and electricity generation down 6.6%. On the upside, steel was up 6.5% and cement was up 7%. In 2019, industrial production was down 1.8%, cancelling out a 1.1% growth in 2018.

Net foreign direct investment in Ukraine was the worst in 20 years

Net foreign direct investment in Ukraine was the worst in 20 years, Lenna Koszarny Founding Partner and CEO of Horizon Capital, said Friday at a discussion of the draft National Economic Strategy 2030. Looking at negative flows for first nine months, she said: “We hope that net FDI will go to zero.” To get Ukraine on a growth track, she said the government’s goal should be: judicial reform, capital market reforms and investment reforms.

Last year’s remittances from Ukrainian workers abroad totaled $12 billion — almost five times the net direct foreign investment of $2.5 million.

Last year’s remittances from Ukrainian workers abroad totaled $12 billion — almost five times the net direct foreign investment of $2.5 million. In 2018, net FDI added up to $2.4 billion. Kyrylo Kryvolap, Executive Director of the Center for Economic Recovery, said that since independence, Ukraine’s economy has attracted $50 billion in FDI, while Poland attracted over the same period $240 billion.

Despite coronavirus travel controls, worker remittances are expected to be near last year’s level.

Despite coronavirus travel controls, worker remittances are expected to be near last year’s level. Ukraine’s State Border Guard Service reports that 35% of the 11,250,000 border crossings out of Ukraine last year were to Poland. While Ukrainians were largely barred from visiting the EU for tourism in 2020, travel was permitted for work. Outbound crossings were: Poland – 4 million; Hungary – 1.6 million; Russia – 1 million; Turkey – 965,000; Egypt – 730,000; Romania – 626,000; Belarus – 496,000;

The sale of large state companies starts this year and will not be reversed,

The sale of large state companies starts this year and will not be reversed, Prime Minister Shmygal vowed Friday at the meeting to debate the National Economic Strategy through 2030. He added: “Investors have liquidity today. Objects for privatization in Ukraine are extremely interesting.” He said planned companies for sale this year include: three regional power generators, five combined heat and power plants, the Bolshevik plant, the Odessa Port Plant, the United Mining and Chemical Company, and the President Hotel.

To promote investment into Ukraine, UkraineInvest is creating up to 70 information offices in Ukrainian embassies around the world

To promote investment into Ukraine, UkraineInvest is creating up to 70 information offices in Ukrainian embassies around the world, Serhiy Tsivkach, executive director of the Investment Promotion Agency, said at the National Economic Strategy meeting. The agency is working with the Foreign Ministry and the Ukrainian World Congress. Ukraine has 78 embassies and 45 consulates.

Turkish companies are interested in investing in Chornomorsk container terminal and  railway and ferry complex

Turkish companies are interested in investing in Chornomorsk container terminal and  railway and ferry complex, Infrastructure Minister Vladyslav Krykliy reports after meeting Thursday with executives of three Turkish companies: Busserk, Çalık Holding, and NIKO Group. One of Ukraine’s busiest black sea ports, Chornomorsk has a car ferry to Derince, near Istanbul.

DTEK Renewables plans to launch solar and wind projects in the EU as early as this year,

DTEK Renewables plans to launch solar and wind projects in the EU as early as this year, DTEK Renewables CEO Maris Kunickis tells Bloomberg in an article headlined: “DTEK Looks Abroad After Ukraine Backtracks on Green Support.” Behind DTEK’s drive to diversify, Bloomberg writes: “In 2020, government only paid for 50% of produced energy to renewable producers. The retroactive cut jeopardizes Ukraine’s goal of having a 25% share of renewables in electricity production in 2035.”

Ukrainians bought two thirds of their long-distance train tickets online last year

Ukrainians bought two thirds of their long-distance train tickets online last year, reports Ukrzaliznytsia. By buying 12.9 million tickets through the Internet, at booking.uz.gov.ua, travelers had easy access to fares, seat selection and discounts. Two weeks ago, UZ launched ticket sales through Viber and Telegram, facilitated by chatbots. On the first day, 17,000 people took advantage of the new service.

The longest train ride in Ukraine is also one of its five most popular

The longest train ride in Ukraine is also one of its five most popular, reports Ukrzaliznytsia. Every day, Train No. 45 sets off from Uzhgorod or Lysychansk, Luhansk, ambling across Ukraine making at least 40 stops and averaging 53 km/hour (33 mph). The train takes 31 hours and 15 minutes to travel 1,653 km, slight longer that the distance from Marseilles to Berlin. Last year, 461,500 people rode the train, most for small segments.