The Business Week for the week of June 29- July 5, 2020

The Business Week for the week of June 29- July 5, 2020


Ukraine set up a new record in agricultural crops harvesting

 Known as a breadbasket of Europe, Ukraine proves to become a food basket of the world and a key player in providing food security. Ukraine keeps showing its agricultural might by setting up a new record in harvesting agricultural crops – 98 million tons for the 2019/2020 MY, 62 million tons of which were exported. As the country implements new technology and becomes more efficient, its agricultural output will only grow keeping it among the global agricultural powerhouses. Read more.


Ukraine increased the production of sunflower oil

In January-May 2020 Ukraine increased the production of the crude sunflower oil to almost 271 thousand tons, it’s 8% more compared to the same period in 2019. The refined oil increased to 411 thousand tons, which is a 23% increase. In addition, Ukraine has also increased the production of the sunflower meal by 4.2%. Ukraine is #1 in the production and export of sunflower oil in the global food market. Ukraine exported over 6 million tons of sunflower oil in crop season in 2018-19. 


EIB will provide EUR 50 million to Unit.City

According to the agreement signed between Unit.City and the European Investment Bank (EIB), the EIB will provide EUR 50 million for the development of the project “Innovative campus for Ukraine”, which envisages the construction and renovation of the existing buildings, creation of the IT education academy and multifunctional office space for the tech companies. This initiative will help to create one of the biggest innovation hubs in Central and Eastern Europe. Unit.City is the first innovative campus in Ukraine aimed at accelerating high technologies, innovative and creative industries and giving the impetus to their boost and flourishment.

2020 Startup of the Year Open Call

Startup of the Year started accepting applications from the most promising and innovative startups from around the world. 
The eligibility criteria include:

– The founding year between 2014 and 2020
– Have raised less than $5MM in funding on the date of application
– Be an independent company (not a subsidiary)
– Have a working beta product or service
Read more.


Meet the updated Invest Atlas

UkraineInvest team has updated the Invest Atlas adding few new investment projects in the agribusiness sector. In particular, the new version includes such projects as fruit&vegetable storage complex; the construction of the agricultural processing complex; frozen&dried berries, fruits, vegetable plant; innovative irrigation system; cream-cheese production plant; production of french fries; potato deep processing plant; production of the milk formulas for child nutrition. 


PrivatBank is in top-500 world’s best banks

Ukrainian state bank PrivatBank was ranked among the 500 world’s best banks, according to the rating published by the British The Banker magazine. The bank has jumped 262 positions in 2020 and occupied 446th place, which shows the increase of its capital and efficiency. This is the only Ukrainian bank that has been ranked among the 500 best banks in the world. 

During the first four months of 2020, Privatbank increased its net profits to UAH 17,3 billion compared to UAH 10,4 billion in the first quarter of 2020. 

The other notable change among the CEE region’s top 25 lenders is the rise of Ukraine’s PrivatBank. In the 2019 ranking, the bank came in 18th place, whereas in the 2020 edition, it has risen to 12th position,”

reads The Banker report.  

5 Ukrainian cities have been ranked in the 2020 Emerging Europe Awards by Emerging Europe

Without a doubt, regions remain the key drivers for economic development. Five Ukrainian cities have been ranked in the 2020 Emerging Europe Awards by Emerging Europe:
📍Lviv named #2 emerging Europe’s economically potential city, #3 in the category Local Authority Support, #5 in the category Talent pool, #6 in the category General Ranking, #7 in the categories Smart City Development and Quality of Life
📍Kharkiv named #3 emerging Europe’s economically potential city, #3 – Talent pool
📍Kyiv named #3 emerging Europe’s economically potential city, #4 – Talent pool, #6 –Infrastructure and connectivity
📍 Dnipro and Odesa named #5 emerging Europe’s economically potential city


Yuzhny increased its cargo handling to more than 10 million tons 

Sea trade port Yuzhny increased its cargo handling by 61% in the first half of 2020 compared to the same period the previous year. In total Yuzhnyi transshipped more than 10,5 million tons of cargo, which is 58% more than was initially planned. The port has diversified its cargo encompassing export (+62%), import (+56% ), transit (+36%) and cabotage (+2 542%). Despite the pandemic and quarantine measures, Ukrainian ports keep enhancing and modernizing its infrastructure and facilities.

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