Ukraine: e-commerce market valued at $2 billion

During the “ICT Global Leadership Forum” in Seoul, the capital of South Korea, Ukrainian Education and Science Minister Liliya Hrynevych made a presentation called “ICT and education in Ukraine” and described the development of information and communication technologies and how they would be applied to reforms in the secondary education in Ukraine. “The ICT field…

Ukraine: forecast of grains production and exports up

In September analysts of APK-Inform Agency adjusted the supply and demand balances of grains in Ukraine, and increased the forecast of the general harvest of grains and pulses in 2016/2017 MY to 63.9 million tons.

This is 6.3% more compared with the harvest-2015 (60.1 million tons). (APK-Inform/Business World Magazine)

Ukraine: profitability of flour exports low

In 2015/2016 MY, profitability of Ukrainian flour exports is quite low in comparison with other countries, the adviser to the Chairman at Agrarian Fund PJSC Sergei Sakirkin declared. According to him, in 2015/2016 MY Ukraine supplied 344 thousand tons of flour to foreign markets valued at $72.29 million, while the USA – 303 thousand tons…

Ukraine: Germany provides EUR 150 million for substation modernization in Donbas

Germany’s credit institution KfW is providing a EUR 150 million loan for implementation of a project to reconstruct substations in eastern Ukraine. The individual loan agreement between Ukraine’s Cabinet of Ministers and KfW was signed at the ninth meeting of the Ukraine-Germany high-level group on economic cooperation. Eva Witt, KfW Director for Eastern Europe, Caucasus…

Ukraine: number of crushing plants going up

Last week “Seedco Ukraine” in Ichnya town (Chernigov region) launched the first line of crushing plant. Project capacity is 80 tons per day and yearly production capacity is 25 KMT. The installed equipment allows crushing not only sunseed, but also other crops. The company has relationships with trading companies of EU and Japan and so…

Ukraine: seaports grain exports halved in early October 2016

On October 3-9, Ukraine exported 545.9 thousand tons of grains from the seaports against 1.02 million tons on the previous week.

In particular, wheat shipments reached 312 thousand tons, barley – 155.6 thousand tons, and corn – 78.3 thousand tons. (APK-Inform/Business World Magazine)

Ukraine: share of Ukrainians involved in Boeing projects has been growing for the last three years

The share of Ukrainian professionals involved in Boeing projects has increased significantly over the past three years – from 0.1% to 2%. According to the press service of the Progresstech-Ukraine engineering company, its director Andriy Fialkovsky said this at the international aviation forum Aerocongress 2016. Three years ago the share of Ukrainians involved in modeling…

Ukraine: investment boost observed

Opening of new enterprises manufacturing added-value products is a proof that Ukraine experiences growing investment levels. This was stated by Prime Minister of Ukraine Volodymyr Groysman after opening of the company Bila Tserkva Plant of Preparation Forms. “The task of the government today is to create conditions so that such companies could appear every week…

Ukraine: long awaited rains arrive

After long term September drought rains were observed throughout the whole territory of Ukraine last week. Thus, heavy rains were seen in Lvov region (Western Ukraine) – on October 4, daily precipitation totaled 54.3 mm –a lmost a monthly norm (95%). In Kharkov region 10 days precipitation amount varied within 5-12 mm, or 38-92% of…

Ukraine: investment interest constrained by unfavorable business climate

Investment interest in Ukraine is restrained by the unfavorable business environment in the country, according to participants of the Kyiv International Economic Forum. According to Ambassador of Canada to Ukraine Roman Waschuk, Canadian investors are interested in entering or expanding activities in Ukraine. At the same time, they are interested in certain guarantees of investment…

Ukraine: IMF welcomes economic achievements

According to the results of the second review of implementation of the IMF program by Ukraine, the fund is “impressed” by the government’s efforts to carry out reforms and renew its economy. Director of the IMF’s European Department Poul M. Thomsen said this during a press conference in Washington. “We see that (economic) policy is…

Ukraine: trade turnover with Russia not to exceed 5%

Ukrainian Foreign Minister Pavlo Klimkin says that trade turnover between Ukraine and Russia will not exceed 4-5%.

“We cannot retain previous economic ties with Russia. We will never return to a large volume of trade turnover with Russia. Earlier, the trade turnover reached 37%. Now it can total 4-5%”, Klimkin said. (Ukrinform/Business World Magazine)