Industry Centers 4.0 to be established in Ukraine’s regions
The Ukrainian Government supported the decision to start the process of establishing Industry Centers 4.0 in the regions. According to Prime Minister Denys Shmyhal, such centers will be created on the basis of industrial and science parks as well as universities.
“Industry Centers 4.0 should become an important tool for innovative development at the regional level and occupy a special place in the educational and scientific processes. That is why we want to involve Ukrainian universities, as well as establish cooperation with the European network of digital innovation hubs and international funds,” said the Prime Minister.
According to the Prime Minister, the main task of Industry Centers 4.0 is to coordinate the process of implementation and development of advanced technologies, training of specialists, forming links between the business that develops modern technologies and manufacturing enterprises.
National Bank raises key policy rate to 8%
The National Bank Board has decided to raise the key policy rate to 8% per annum. Given the significant increase in underlying inflationary pressures, this step is necessary to return inflation to 5% in 2022 and keep inflation expectations in check.
The rise in inflationary pressure, including its fundamental component, is also driven by the dynamic recovery of the economy, as evidenced by monthly and other high-frequency indicators. More specifically, the index of key sector output climbed by 18.3% yoy in April and by 4.1% yoy in May, while the business activity expectations index in June reached its highest level since October 2019. At the same time, favorable FX market conditions and the stabilization of inflation expectations restrained underlying inflationary pressures to some extent. Read more here.
IMF to implement ‘Continuing Fiscal Reforms in Ukraine’ project until 2023
The International Monetary Fund (IMF), with funding provided by the European Union, has launched the “Continuing Fiscal Reforms in Ukraine” project, which is to be implemented until 2023. “The new “Continuing Fiscal Reforms in Ukraine” project funded by the European Union and implemented by the International Monetary Fund will help improve fiscal management in Ukraine and increase transparency and accountability on how public finances are managed and revenues collected,” the agency said.
“Ukraine is currently one of the main beneficiaries of IMF Capacity Development, and we are pleased to further expand our support to the country through this partnership with the European Union. This project aims to improve the management of fiscal resources in Ukraine and contribute to economic stability and inclusive growth,” Antoinette M. Sayeh, the IMF Deputy Managing Director, added.
EBRD and Ukraine boost low-carbon hydrogen development
The European Bank for Reconstruction and Development (EBRD) and the Gas Transmission System Operator of Ukraine (GTSOU) are joining forces to promote the development and use of hydrogen in Ukraine. The partners have signed an agreement to formalise their cooperation on low-carbon hydrogen and to develop hydrogen supply chains, a first of its kind accord.
The EBRD and GTSOU previously signed a Memorandum of Understanding in April 2020 that would provide a general framework to improve the environment for sustainable energy investments in Ukraine and reduce the level of greenhouse gas emissions, in particular methane fugitive emissions and air pollution. The Bank recently launched a study on the potential for developing different segments of the hydrogen supply chain across many of the economies where it invests, including Ukraine. Read more here. ion of state-owned property in Ukraine.
Farmak pharmaceutical company to invest EUR 30 mln in building R&D center in Kyiv
Farmak pharmaceutical company is investing EUR 30 million in the construction of an innovative research R&D center in Kyiv. According to a press release from the company, the center is to open in 2023. In the new center, in particular, analytical laboratories will be concentrated, they will have about a hundred liquid and gas chromatographs and a number of modern devices for the development and testing of drugs.
In addition, the R&D center will house a technological laboratory with equipment for the development of finished drugs with various methods of their delivery to the human body and the implementation of personalized medicine protocols of the 21st century.
International Kingdom Expo 2021 – Virtual
IKE 2021 is the first international Jordanian exhibition and conference, which aims to connect factories, service providers, and startups companies with the global market through interactive virtual windows that guarantee the highest standards of online networking, and its services are provided through two main tracks:
1. The virtual platform, browse through exhibitor booths, attend webinars, and network with others, all designed to be informative and enjoyable wherever you are.
2. The permanent Jordanian platform to display products and services throughout the year, “The Permanent Kingdom Expo: www.KingdomExpo.org”.
Registration is free at: https://kingdomexpo.org/Register
Additional information: https://kingdomexpo.org/, or e-mail: info@kingdomexpo.org
