Ukraine

Business

Journal

6:09 AM Monday, February 19, 2018
UBJ.am
UBJ AM News, May 30, 2017
South Korean looks set for hi-tech investment in Ukraine, procurement system saves Ukraine millions, and Ikea could finally enter the country this year.
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

• South Korea plans to invest in 4G and 5G mobile internet in Ukraine. According to Ukraine’s Minister of Economic Development, the plans were announced after a meeting between minister Stepan Kubiv, Korean Ambassador Li Yang Gu, and representatives of the Korean Investment Corporation K-Growth.

• Ukraine has saved over $900 million dollars since the launch of the ProZorro e-procurement system, Interfax-Ukraine reported. President Poroshenko said ProZorro has handled tenders worth $26.6 billion since its launch.

• The first jet engine designed in Ukraine and manufactured in China could be displayed this year, according to the Ukrainian League of Industrialists and Entrepreneurs. The engine is part of a joint project between PJSC Motor Sich (Zaporizhia) and China’s Beijing Skyrizon Aviation Industry Investment Co. Ltd.

• Ukraine’s foreign currency reserves have risen to $17.6 billion, Interfax Ukraine reported. This growth is due to an increase in forex purchases, according to Oleh Churiy, Deputy Governor of the National Bank of Ukraine.

• Ukraine's intelligence agency searched on Monday the offices of Yandex, the Russia-based Internet company. Ukrainian authorities earlier this month blocked access to Yandex as well as to several major Russian social media websites. Olena Gitlyanska, spokeswoman for Ukrainian intelligence agency SBU, said Monday that Yandex's offices in Kiev and Odessa were searched as part of an investigation on treason charges.

• Swedish furniture giant Ikea looks set to open its first store in Ukraine. According to Interfax, Ikea is likely to become a holder of Yuzhny Mall, which will become the largest trading center in the country on opening this year.

• Ervaz holding, owned in part by Russian oligarch and Chelsea FC owner Roman Abramovich, has found a buyer for its Ukrainian assets worth $110 million. An iron ore mine owned by the holding has been bought by DCH group headed by Ukrainian businessman Alexander Yaroslavsky.


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