The Business Week for the week of November 30 – December 6, 2020

The Business Week for the week of November 30 – December 6, 2020


Ukraine: Investment Harbor in Times of Change

How will the investment market be developing in Ukraine? What about investor rights protection? What are the key updates in the regulatory policy? Does Ukraine have success stories in terms of investment attraction despite the global pandemic and economic decrease? These and many more issues will be addressed during the First Annual Online Conference “Ukraine – Investment Harbor in the Time of Change”. Over 500 participants and 30+ speakers representing government, local and regional authorities, international business and investment community, policymakers, foreign and national experts,  will share their thoughts regarding these matters. 
🗓️ December 11, 2020, 10 am-7pm (Kyiv time)
🔗  More information and registration for the event –


Ukraine passes the law on inland water transport

The Parliament of Ukraine passed in the second reading the bill 1182-1-d “On Inland Water Transport”. The Law gives a fresh impetus to the reform of river transportation in Ukraine, turning the Dnipro River into a major transport artery of our country. The Law allows to:
✅ Increase freight traffic to 30 million per year which will bring from 13 to 16 billion hryvnias to the state annually.
✅ Increase market competition, attract investments, provide a level playing field, bring transparent rules, and stimulate international trade.
✅ Deregulate the industry through the introduction of free passage of locks and partial exemption of inland waterway vessels from fees in seaports.
✅ Relieve the highways and reduce the costs for road repair – 1 million tonnes of cargo transported by the river will save UAH 1 billion over 4 years in road restoration.
✅ Simplify administrative procedures for vessel registration and issuance of qualification documents.

Ukrainian Reface is among the best Google Play apps in 2020

Ukraine proves to have a vibrant IT ecosystem and becomes Europe’s rising tech nation. Google Play listed the best applications and games for Android in 2020 and Ukrainian application Reface has been included in the Best for Fun category. The application is developed by the Ukrainian startup Reface AI, which focuses on AI technology that swaps faces in photos, videos, and other visuals. The R&D center is located in Kyiv.  

The State Property Fund has sold five spirits facilities this week

The State Property Fund keeps diminishing the state monopoly over the spirits production industry. This week five distillery spirit facilities have been auctioned including the 13th Ukrspyrt plant which is located near Vinnytsia. The starting price has increased almost threefold and reached UAH 84 million (~USD 3 million). Despite the global pandemic, Ukraine is continuously working on attracting private investments through transparent privatization auctions of the state facilities.

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