The Business Week for the week of October 26-November 1, 2020

The Business Week for the week of October 26-November 1, 2020


German HHLA completed its new project in Odesa seaport

One of the biggest German container operators, HHLA, has completed the new project worth  EUR 20 million in the Odesa Seaport. The company’s subsidiary Container Terminal Odesa (CTO) finished the construction of the 4rth complex within the new container terminal at the Quarantine Mole. The expansion of the terminal will increase the handling capacity by 300 thousand TEU. Earlier this year the company announced the establishment of the Ukrainian Intermodal Company (UIC), which will develop container rail transportation to and from the Odesa port. For this reason, CTO increases the terminal’s capacity to be able to handle container volumes. The HHLA container terminal in Odesa is now one of the largest in the Black Sea. The facility accounts for approximately 40 percent of Ukraine’s container throughput, handling 338,000 container units (TEU). Read more.


Kyiv is ranked among the Top 100 best cities worldwide 

According to the 2021 World’s Best Cities Report, Kyiv is ranked #87 and appeared for the first time in the Top 100. The city made a great loop forward and jumped 52 places as previously Kyiv was ranked 139. Architecturally endowed, friendly and creative, Kyiv is a subdued European capital on the rise, reads the report. The first top five best cities mentioned in the report are London, New York, Paris, Moscow and Tokyo. Read the full report.
Kyiv, Ukraine’s capital, may not be the first European capital that pops to mind, but it’s one of the most distinct. The city—a 1,500-year-old living encyclopedia of Slavic history—is as colorful and vibrant as its nation’s flag, with buildings painted like Ukrainian Easter eggs and the skyline topped with gold domes gleaming up the hills from the Dnieper River.” the report describes. 


Ukraine’s gas market reform: an under-reported success story

Read “Ukraine’s gas market reform: an under-reported success story” by Dr. Aura Sabadus Senior journalist, ICIS about Ukraine’s breakthrough in reforming its gas sector:
☑️ Due to the market reform, Ukraine became Europe’s indisputable storage hub in 2020 as markets were facing suppressed demand linked to the pandemic and an underlying supply overhang 
☑️ Ukraine becomes a relief valve for European gas markets in 2020 with an increase in natural gas storage 
☑️ The number of non-resident companies storing gas in Ukraine grew up significantly – from 7 in 2018 to 79 in 2020 

More IT specialists needed: the IT labor market grew up by 20% in September 2020

According to GlobalLogic, the number of vacancies in the IT-sphere reached 6,000 in September. This shows the gradual resumption of the IT industry in Ukraine since the pandemic started. The need for IT specialists increased twice since April 2020 and showed a 20% growth in September compared to the same period the previous year and 35% compared to 2018 respectively. With digital transformation and businesses shifting online, frontend developers and specialists in big data are in high demand. 

Privatization in Ukraine: five spirit plants have already been sold

The State Property Fund of Ukraine has already sold five Ukrspyrt’s spirit enterprises totaling over UAH 200 million. Ukraine keeps gradually abolishing the state monopoly on ethanol production in order to create a transparent alcohol market in the country through the privatization of distilleries. Overall, the Ukrspyrt has 78 distilleries, 12 of which have already been announced for privatization auctions.

UBS: the shift from fossil vehicles to electric, hybrid and low-emissions cars may be significant

The electric cars will cost the same to make as conventional cars, with internal combustion engines, by 2024 and an acceleration in the shift away from fossil fuel vehicles may be imminent, writes The Guardian. Based on the UBS’s new research it’s anticipated that the extra cost of manufacturing battery electric cars versus their fossil fuel equivalents will diminish to just $1,900 per car by 2022, and disappear completely by 2024. The rapid reduction of battery costs is expected to trigger a faster switch to electric vehicles than previously expected, reads the article. Electric vehicle sales are already booming in the EU, China, and Ukraine despite the hit to the car market caused by the coronavirus pandemic.

Ukraine’s electric cars market growth has been one of the highest in Europe

Ukraine’s electric car market has shown significant growth in recent years. Since 2018 the number of electric cars has grown by 375%. It’s estimated that by 2025 there will be over 50,000 cars. Ukraine has the biggest number of public charging points compared to its nearest EU countries – over 8,500 (a 57% increase in 2020 compared to the same period in 2019). In order to facilitate the growth of the local electric cars market, Ukraine has already started the development of the incentives, including the import duty exemption. 


Emerging Ukraine: Europe’s new growth engine?

Our partners at NUCC are organizing an online event that includes inspiring plenary sessions, informative panels and targeted 1:1 meetings that will put the Norwegian-Ukrainian cooperation on a brand new level.
Do not hesitate to join us! Why participate?
📌 Receive an update on the progress of reforms in Ukraine and what this means for your business
📌 Discover new opportunities for bilateral trade
📌 Develop your network with professionals in Norway and Ukraine
📌 Find potential partners and relevant projects
📅 Date: November 12th
⏰ Time: 4 pm (Kyiv time)/3 pm (GMT+1)
🔗 Registration and full program via a link –

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