The Business Week for the week of September 7-13, 2020

The Business Week for the week of September 7-13, 2020


Ukraine supports IT specialists from Belarus

Ukraine launched a project aimed to help Belarusian IT specialists to move legally to Ukraine, during the unstable situation in the Republic of Belarus. Together with other ministries and Ukrainian IT Associations, the Ministry of Digital Transformation developed a website with step-by-step instructions on how to move to Ukraine, containing legal advice, useful information and links for those who want to move to Ukraine or companies that would like to relocate their IT teams.  Detailed information here – 


Ivano-Frankivsk named the best city for doing business by Forbes Ukraine

Forbes Ukraine published the rating of Ukrainian cities in terms of doing business. The top 5 cities are Ivano-Frankivsk, Vinnytsia, Lviv, Kyiv and Ternopil. Among the key indicators to evaluate the city were: the transparency of the local authorities, high levels of business activity, ranking in the regional Doing Business, transportation, purchasing power, security, ecology,  the perception of the city by locals and its attractiveness for migration. 


ZAZ to start Renault cars production

Ukraine Zaporizhzhia Automobile Building Plant (ZAZ), one of the largest manufacturers of cars and buses in Ukraine, has launched the production of the Groupe Renault vehicles for the domestic market. According to Max Missana, Managing Director of Groupe Renault Export Eurasia Region, the Ukrainian market possesses high potential due to its location and increasing interest in new cars. Read more

Ukraine starts wheat sales to Saudi Arabia 

Continental Farmers Group to send Ukraine’s first cargo of high-quality wheat to the kingdom since 2008, after winning a tender to supply 60,000 tons. This is a sign of a serious investment intention of Saudi Arabia regarding Ukraine, says Georg von Nolcken, chief executive officer at Continental Farmers. Read more in Bloomberg’s article “Wheat Rivalry Heats Up as Ukraine Starts Sales to Saudi Arabia”

Ukraine remains the world’s leader in sunflower oil export

In the 2019/2020 marketing season, Ukraine increased sunflowers oil exports by 10% and reached almost 7 million tonnes, according to Ukraine’s National Sunoil Producers Association. This month the prices for the Ukrainian sunflower oil have increased drastically caused by the possibility of future decrease in the sunflower seed harvest and strong demand from importers. 

Ukrainian IT industry keeps evolving despite the pandemic and confidently moves towards the gender balance

According to the recent analysis conducted by GlobalLogic, during the last five years:
📈 The number of IT specialists in Ukraine increased twice, from 90 to 180 thousand.
📈 Since 2015 the number of women in IT grew by 79%. Women start actively choosing IT – 36% of the newcomers (those who work in It less than a year) were women. Global Logic admits that 80% of female specialists hold tech positions.
📈 In 2020 the average age of an IT specialist is 28 years old.
📈 Python and JavaScript showed the biggest growth – 89% and 66% respectively.

Cargill and Arya to acquire Neptune grain terminal

The Antimonopoly Committee of Ukraine granted permission to Cargill and Arya S.A. for the joint acquisition of the Neptune grain terminal in port Pivdennyi. Neptun was commissioned in September 2019 and has transshipped over 2.5 million tonnes of agricultural commodities in 2019/2020. The terminal capacity is 5 million tonnes of grain per year. It can store up to 290,000 tons of grain at a time in a flat storage warehouse together with 14 silos bins. Read more. 

In August 2020, Ukraine’s international reserves exceeded 29 billion USD

As of September 1, 2020, Ukraine’s international reserves reached 29 billion USD. The reserves increased by 1% in August due to the favorable situation in the FX market. According to the central bank, the changes in the international reserves during August were driven by the following factors: 
✅the NBU’s interventions in the interbank FX market
✅the government’s transactions related to public debt management
✅the revaluation of financial instruments


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