Ukraine: potential of organic production underused

Ukraine uses the potential of organic agricultural production by less than 10%, while this sector is promising for the development of small and medium-sized businesses, Agrarian Policy and Food Minister of Ukraine Taras Kutovyi said. “Ukraine has an extraordinary potential for organic production, which today is used by less than 10% of our capabilities. It…

Azerbaijan: no need to rush in privatizing large enterprises

Privatization of Azerbaijan’s large state enterprises, including state oil company SOCAR, requires time and such issues must not be hurried, Rafig Jalilov, deputy chairman of Azerbaijan’s State Committee on Property Issues, said. “It is needed to be consistent in such issues, since the privatization of large enterprises touches the issues of Azerbaijan’s economic independence”, Jalilov…

Azerbaijan and Iran to launch new passenger train

A passenger train will be launched between Azerbaijan’s Nakhchivan and Iran’s Mashhad before late November, Javid Gurbanov, head of Azerbaijan Railways CJSC, reported. Gurbanov said the train would start running either on November 27 or November 30. The Nakhchivan-Julfa-Tabriz-Tehran-Mashhad passenger train will run twice a week. Renewed cars will be used for the trips. (Trend/Business…

Ukraine: Astarta steps up soybean product exports

Astarta exported 115 KMT of soybean crushing products in January-September that is almost 81% of the segment’s sales, the company’s press service reports. Revenues in the soybean crushing segment reached 53 million euro, or 25% of Astarta’s consolidated revenue, up by 36% YoY. In January-September Astarta sold 28 KMT of soybean oil, up by 42%…

Belarus: AID-Venture venture funding program launched

A $2.5 million venture funding program – AID-Venture – has been launched in Belarus, Bel.biz Group reported. The consortium of partners consisting of several companies has won the tender for venture capital ecosystem development in Belarus. Aleinikov & Partners together with a group of companies Bel.biz, venture fund 500 Startups and international educational program for…

Ukraine to join BEPS action plan in early 2017

Ukraine from January 1, 2017 will become an official member of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) led by the Organization for Economic Cooperation and Development (OECD). Ukraine’s Finance Ministry reported that Minister Oleksandr Danyliuk on November 22, handed a letter to OECD Secretary-General Angel Gurria. This is the final phase…

Ukraine: Ukravtodor to build new road to Hungary

The State Agency of Automobile Roads of Ukraine (Ukravtodor) intends to build a new road, which will connect the M-06 Kyiv-Chop highway with the Hungarian road M-3 Budapest-Nyiregyhaza. According to the press service of the agency, the corresponding decision was made following a joint review of infrastructure on the Ukrainian-Hungarian border. “This will allow combining…