The Business Week for the week of November 16-22, 2020

The Business Week for the week of November 16-22, 2020


Ukrainian Government approved a list of priority investment projects

The Ukrainian Government approved about 100 priority investment projects until 2023. This list includes projects in the following areas healthcare, energy, processing industry, waste management, environment protection, postal services, cultural, tourism and sports infrastructure. 40% of this list are large scale infrastructure and transportation projects. The implementation of these projects envisages the opportunity for public-private partnerships. In particular, the reconstruction of the 13 regional airports and the concession of railway stations are among the projects.


Ajax Systems opens the second production plant in Kyiv

Ajax Systems, a Ukrainian manufacturer of wireless security systems, opened the second production plant in Kyiv. According to Ajax’s CEO Olexandr Konotopskyi, the company plans to scale its business next year therefore the production site should be expanded. This year, Ajax plans to recruit 150 people for the new location with a subsequent increase to 1,000 people. Previous month Ajax Systems won the “Intruder Product of the Year 2020” category in the prestigious PSI Premier Awards 2020. The company delivers over 2 million devices worldwide and all of them are developed, assembled, and tested in Kyiv. Ajax’s success story proves the vibrant Ukrainian startup ecosystem, talented entrepreneurs and availability of human resources.

Ukraine to cooperate with NASA on Moon’s colonization program

Ukraine signed the agreement with NASA to jointly cooperate within the “Artemis” program that envisages the peaceful exploration of the Moon, Mars and other celestial objects. The State Space Agency of Ukraine says the agreement contains a set of principles that will guide the signatory states in participating in the program. According to the ex-head of the SSAU Volodymyr Usov, this step allows Ukraine to be able to implement its projects in partnership with the world’s leading space agencies. Now Ukrainian projects are to become a part of the global framework of the Moon’s exploration by ISECG as well as open up the full potential of Ukraine in space research within the “Artemis” program in particular. Ukraine became the ninth nation to join the program along with Australia, Canada, Italy, Japan, Luxembourg, the United Arab Emirates, and the United Kingdom. 

Ukraine jointly with the European Investment Bank to support agricultural enterprises

Within the joint project with the European Investment Bank, the Ministry of Finance of Ukraine launched the implementation of a loan program for small and medium enterprises in the sector of agriculture. The project is aimed at expanding the access of agricultural enterprises to affordable financing through bank loans in order to enhance the support of value-added chains in the agricultural sector, in particular grain and oilseeds processing, fisheries and aquaculture. Thus, such loan program will facilitate the development of small and medium-sized businesses, increase the Ukrainian agricultural sector’s competitiveness and boost exports of the agricultural products as well as bring new technologies and best European management practices. Ukraine’s agricultural might could be doubled if the country starts vividly integrating innovative technologies in food production, attracting more investments in the agri sector, and actively engaging in the global food supply chains.

Ukraine initiates open electronic bidding for 13 mineral and groundwater deposits

The State Service of Geology and Subsoil of Ukraine has put up at e-auction 13 new subsoil lots with deposits of amber, gold, kaolin, groundwater, and manganese. The e-auctions will take place through the public trading platform Prozorro and the bidding will start on December 23, 2020. The application deadline is December 22, 2020. Follow the link to get more information about the auction – The special permits issued through the Prozorro system prove to be progressive and effective as the auctions ensure transparency and a level playing field. Over the past year, more than UAH 800 million has been attracted while the starting price of the bids increased by 15 times on average. The ability to involve all market players in the auctions will increase Ukraine’s extractive sector attractiveness, develop the mineral resource base, create new jobs and tax revenues.

Over 132 mln tonnes of cargo handled by Ukrainian ports during 10 month period

In January-October 2020 Ukrainian ports handled more than 132 million tonnes of cargo, which is 2,2 million more than during the same period last year, reports the Ministry of Infrastructure of Ukraine. The export volume has been increased by 3,8% and reached 101,3 million tonnes while cabotage cargo increased by 23,3% (2 million tonnes). The bulk of the total cargo volume was grain and ore – 39,4 million tonnes and 37,2 million tonnes respectively. The container cargo increased by 7.1% and reached 869 thousand TEU. Ukraine proves to be an important transit corridor for trade and travel on the crossroads of the main routes between Europe, Asia, and the Middle East which makes the country a major logistics hub. 

Ukraine and the EU to cooperate in the field of critical raw materials

Ukraine and the European Commission will intensify its cooperation in the field of critical raw materials and enhance a strategic partnership in this realm, reads the Cabinet of Minister’s press release. During the online meeting between the Prime Minister of Ukraine Denys Shmyhal and the Vice-President of the European Commission for Interinstitutional Relations and Forecasting Maroš Šefčovič the parties discussed opportunities to jointly develop approaches aimed at enhancing Ukraine’s potential in the extraction industry and together build globally competitive value-added production chains in Europe. 

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