The Business Week for the week of January 25-31, 2021

The Business Week for the week of January 25-31, 2021


Kyiv ranks 32 in the Global Cities Ranking of Startup Ecosystem

According to the Global Map of Startup Ecosystem elaborated by Startup Blink, Ukraine ranks 32 globally and 1 in Ukraine based on the strength of its startup ecosystem. The report states, there are 415 startups on the Map and the most popular in Kyiv are Litnet, Mobalytics and Monobank. The most popular industries are Software&Data, Social&Leisure and Fintech. This proves that Ukraine’s startup ecosystem is vivid and develops fast as well as possesses highly skilled IT professionals.

Google announces Reface app one of 21 things saving 2021

Google listed the 21 best apps that could make 2021 better, among them, there is the Ukrainian application  Reface. Reface is an AI-powered app where people can swap faces in the videos and GIFs in just a few seconds. The company was created in 2011 and is based in Kiyv.

New investment opportunities in the natural resources sector

On January 26, 2021, the Ukrainian Geologic and Subsoil Survey of Ukraine and the Government Investment Promotion Office UkraineInvest jointly presented new investment opportunities in the natural resources sector of Ukraine, namely the list of strategic and critical minerals that can be bought at electronic auctions. Their extraction and development can bring more than $10 billion of investments to the country.
The list of such objects includes so-called “low-carbon future” metals which are in high demand and are used in high-tech industries. In particular, these are Lithium, Titanium, Gold, Beryllium, Scandium, Zirconium, Uranium, Cobalt, Niobium, Molybdenum, Nickel, Tantalum. 
You can see the Investment Atlas of Subsoil User following the link.
Open bids are available at:

Astarta’s sugar sales up by 33% in Q4 2020

One of the largest sugar producers of Ukraine – Astarta – increased its sugar sales by 33% in October-December 2020 compared to the same period the previous year. Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine. It includes eight sugar factories, agricultural enterprises with a land bank of 243,000 hectares and dairy farms with 25,000 animals, seven elevators, a biogas complex and a soybean processing plant in the Poltava region (Globino Processing Plant LLC). 

Ukraine starts the “paperless” regime on September 1, 2021

From September 1, public authorities will not have the right to require paper documents for the provision of services, if this information is already included in the register. The Ministry of Digital Transformation, together with the Digital Transformation Committee, is currently drafting a framework law that will prevent public authorities from requiring paper documents. And from September 1, Ukraine will switch to paperless mode, reports the Government’s official website. 

Ukraine and Lithuania to increase the volumes of container traffic

During the online meeting between the Minister of Infrastructure Vladyslav Kryklii and the Minister of Transport and Communications of the Republic of Lithuania Marius Skuodis, the parties discussed the prospects of Ukrainian-Lithuanian cooperation in the field of infrastructure and joint participation in international logistics projects, as well as attracting additional cargo flows. The Ministry noted the transit of the Viking combined transport train, which connects the infrastructure of the sea lines of the Baltic region with a similar infrastructure of the Black Sea. As of 2020, the volume of container traffic between Ukraine and Lithuania as part of this train increased by 21% compared to the pre-crisis 2019.

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