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6:17 AM Saturday, November 18, 2017
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UBJ AM News: March 1, 2017
Visa-free travel for Ukrainians to the EU gets the thumbs-up, and both FDI and sugar exports generated eye-popping numbers in 2016.
image/svg+xml Kyiv Lutsk Rivne Zhytomyr Lviv Ternopil Khmelnytskyi Uzhgorod Chernivtsi Vinnytsia Chernigiv Sumy Kharkiv Poltava Cherkasy Kirovohrad Lugansk Dnipropetrovsk Donetsk Zaporizhzhia Mykolaiv Odesa Kherson Simferopol Sevastopol Ivano- Frankivsk

The three EU bodies involved in talks to grant Ukrainians visa-free travel in the Schengen zone decided in Ukraine’s favor Tuesday and now begin the bureaucratic procedures to make visa-free travel a reality. Earlier this month, European Commission President Jean-Claude Juncker said Ukrainians will be able to travel to the EU without visas starting as early as this summer.

Ukraine’s FDI jumped 17 percent in 2016 as foreign investors injected $4.4 billion in direct investment. That was $642 million more than they invested in 2015, according to the Ukrainian State Statistics Service. Entities from 77 countries invested in Ukraine last year. Five countries accounted for almost 70 percent of total investment: Russia with $1.7 billion, Cyprus with $427.7 million, the U.K. with $403.9 million, the Netherlands with $255 million and Austria with $249.9 million.

Exports of Ukrainian sugar skyrocketed in 2016, Unian quoted Agriculture Minister Taras Kutoviy as saying. The 344,000 tons was a year-on-year increase of 33 times. Kutoviy lauded the “consistent and coordinated work of the entire production chain.”

Ukrsadprom and China Haisum Engineering Co. Ltd. signed a memorandum of understanding calling for $515 million of investment into Ukrainian gardening projects, Interfax Ukraine reported. The company said that the investment will be spread over 16 of Ukraine's regions.

India’s ambassador to Ukraine is urging the government to increase imports of Indian companies’ pharmaceuticals, saying that doing so will save Ukraine money on drug imports, Ukrinform reported. Ukrainian imports of Indian pharmaceutical products declined from $500 million to $115 million for the past three years.

LOT Polish Airlines’ maiden flight on the Warsaw-Kyiv-Warsaw route took place this week, Kyiv International Airport announced in a report carried by Ukrinform. These flights are convenient because Warsaw Chopin Airport is a hub for the airline with numerous connecting flights.

The government has received 44 applications for construction of solar power plants in the Chornobyl exclusion zone, Interfax Ukraine quoted Minister Ostap Semerak as saying. According to Semerak, the European Bank for Reconstruction and Development will consider financing the construction of solar power plants in the Chornobyl zone.

The Individuals' Deposit Guarantee Fund plans this week to sell the assets of 41 insolvent bank for roughly $80 million, multiple sources reported.

The U.S. Defense Department will help Ukraine’s Energy Ministry Industry establish a joint headquarters to counter threats to the country's energy infrastructure, Unian reported.

Ukroboronprom opened a representative office in Abu Dhabi, Interfax Ukraine reported. The opening of an office in the United Arab Emirates is aimed at promoting cooperation and strengthening Ukraine's presence in the regional arms market.

For comments and news tips, please email UBJ AM editor David Edwards at david.edwards@theubj.com.

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