September Business News from Ukraine

FINNISH-UKRAINIAN NEWS

Finnish First Lady visits Ukraine for the summit on child safety

Suzanne Innes-Stubb, spouse of the President of Finland, surprised everyone by visiting Kyiv on September 11–12, 2024, for a summit focused on child safety. The event was hosted by Olena Zelenska, Ukraine's First Lady. During her visit, Innes-Stubb toured Ukraine’s largest children’s hospital and the Child Rights Protection Centre. She also engaged with foster care services and participated in a panel discussion on children's school safety. The visit concluded with a flower-laying ceremony at the Wall of Remembrance for fallen Ukrainian soldiers. Innes-Stubb expressed admiration for Zelenska's efforts in protecting children and promoting education in Ukraine. Mrs. Innes-Stubb also presented Finland's civil defense model and discussed with Mrs. Zelenska.

Source: presidentti.fi

FUEL EdTech Launchpad and Ukrainian education sectors

The FUEL - Finnish-Ukrainian EdTech Launchpad connects Finnish and Ukrainian EdTech companies, focusing on market entry and strategic partnerships. Led by expert coaches, the program supports companies through Ukraine's reconstruction and educational innovation. Key coaches include Kari Mikkel?, an expert in Finland’s Espoo innovation ecosystem, Mikko Korpela, a network builder across Europe, and Yuri Kozik, who specializes in facilitating investments for Ukraine's rebuilding. Matti H?rk?nen brings expertise from Finland's venture capital scene, while Daria Sazonova advocates for impact and female entrepreneurship in Ukraine. Together with Toni Pienonen they foster collaboration across these sectors. FUEL empowers companies to strengthen educational resilience in both countries and provide opportunities for both Finnish and Ukrainian people.

Source: Linkedin:CrazyTownOy

FinУсп?х event boosts Ukrainian entrepreneurship in Finland

On September 8, influencers and volunteers together with the Ukrainian Society in Finland, organized the "FinУсп?х" event to unite successful entrepreneurs and motivated individuals. The event aimed to create a platform for open dialogue, connecting professionals and aspiring entrepreneurs to exchange knowledge and experiences. Speakers included Olena Demchenko discussing business types in Finland, Anastasiia Panishcheva from the beauty industry, Vitalina Opalat of DIMI GARAGE OY, and others.

FinУсп?х provided valuable networking opportunities. You can also connect with other speakers and participants, like: Ludmila Arkivuo, who owns Felicita Helsinki, a beauty salon, or Oleksandr Butenko, a videographer at Big Sparks and the pastor of the first Ukrainian-speaking Protestant church, Ruslana Kuizma, from RVK palvelut OY, Vasyl Hutsul, who leads Enkora OY and the Ukrainian Society in Finland, and Roman Hrybovsky – Oppi Sippola and the Ukrainian Society in Kouvola.

Source: @ukrainalaisetsuomessa ? Instagram

Simplified construction permit procedure for foreign companies in Ukraine

As of August 16, 2024, the Ukrainian Cabinet of Ministers has amended its resolution to streamline construction permit processes for foreign companies. The new procedure allows foreign firms operating through permanent establishments in Ukraine to construct medium and significant consequence buildings without a license, using a simplified declaration process. Declarations, which can be submitted electronically via the Diia Portal or in paper form at Administrative Service Centers, require basic information about the company, its tax registration, and operational details. This change, effective during martial law, simplifies the previous licensing requirements. However, after martial law ends, companies will need to apply for licenses under new regulations.

Source: Integrites and EastCham Finland ry

POLISH-UKRAINIAN NEWS

Cersanit to invest €330K in Zvyagel Kaolin Deposit

Polish company Cersanit plans to invest approximately €330,000 in a kaolin clay deposit in Ukraine’s Zvyagel district, according to Vitaliy Bunechko, head of Zhytomyr OVA. Cersanit, which operates a large sanitary wares plant in Zvyagel, had completed a new workshop before the war, now ready for operation.

BGV group invested €20M in a granite quarry at the Zherevsky deposit and holds beryllium development licenses in the Olevsk district. Despite the war, no major investors have left the Zhytomyr region, with Bayer even expanding its production with a €60M investment.

Source: interfax

PKP SA and Ukrainian Railways plan to improve border crossing operations

PKP SA and Ukrainian Railways (UZ) signed a declaration to enhance cooperation, aiming to improve the organization of work at rail border crossings between Poland and Ukraine. The declaration focuses on developing joint cross-border rail transport for 2024-2026, including a systematic analysis of transport volume, structure, and geography. The goal is to define the required transport capacity and improve the operations of border crossings and transshipment terminals.

Source: wnp.pl

Polish investments flourish in Ukraine

Since the war began, over 3,000 new companies have been established in Ukraine by investors from 100 countries. Polish investors stand out, ranking third after Turkish and Uzbek investors, with 224 new firms. Despite the conflict's impact on the Ukrainian economy and risks deterring many from setting up manufacturing facilities, Polish firms are actively engaged in trade and non-property-based sectors.

Notably, Polish company LFS LLC, involved in grain, tobacco, and feed trade, ranks third in terms of capital among new firms. Kyiv remains the top location for new businesses, with significant activity also in Lviv and Odesa.

Source: 300gospodarka

Ukrainians increasingly owning ?abka stores in Poland

Ukrainians are becoming prominent among ?abka franchisees in Poland, with around 500 of the chain's 9,000 franchisees coming from Ukraine. ?abka is gaining popularity among Ukrainian entrepreneurs, with many franchisees being women. The chain offers comprehensive support, including training, a fully equipped store, and marketing resources, with over 86% of franchisees achieving at least €6,210 in monthly revenue.

Foreign applicants, including Ukrainians, must provide Polish guarantors or a deposit to qualify. Those residing in Poland for less than two years need two Polish guarantors or one guarantor and a €5,750 deposit. Applicants with at least two years in Poland need only one Polish guarantor or a €4,600 deposit. All candidates must also pass a recruitment test and demonstrate B2-level Polish language proficiency.

Source: businessinsider

Ukrainian kids must attend the Polish schooling system from now on

Poland will implement a verification process for the "800 Plus" benefit aimed at Ukrainian children, ensuring they meet school attendance requirements. Prime Minister Donald Tusk announced that only those children who are effectively enrolled in school will qualify for the benefit. This measure seeks to prevent abuse, such as claims for children not residing in Poland, and will likely result in a reduction of benefits paid out.

Starting September 1, 2024, school attendance will be mandatory for Ukrainian students in Poland. While the initiative is seen as positive, there are concerns about schools' readiness to handle the influx of new students.

Source: tvn24

FOREIGN INVESTMENTS IN UKRAINE

Ukraine and Baltic States strengthen healthcare cooperation

A high-level delegation from Estonia, Latvia, and Lithuania has begun a visit to Ukraine, organized by Ukraine’s Ministry of Health and the WHO Office. The visit aims to enhance healthcare cooperation and learn from Ukraine's experience in managing healthcare challenges during the war.

Minister Viktor Liashko highlighted the critical role of international support in maintaining and reforming the healthcare system amidst ongoing conflict. The delegation will explore Ukraine’s approaches to crisis management, facility reconstruction, and medicine logistics. Ukraine’s experience offers valuable insights for updating national preparedness plans in the Baltic states.

Source: kmu.gov

Fincantieri plans to reconstruct the Odesa port facilities

Italy’s FINCANTIERI , Europe’s largest shipbuilder, plans to transform Ukraine’s defunct Odesa shipyards into a high-tech vessel manufacturing hub. This expansion follows Fincantieri’s success in Romania and could make it Ukraine’s largest foreign investor, surpassing previous records.

The International Finance Corporation, MIGA, and the US International Development Finance Corporation are ready to support the project with financing and risk insurance. Despite regional tensions, including Russian drone attacks on neighboring areas, Fincantieri’s commitment remains strong. The company, known for its giant cruise ships and naval defense contracts, is poised to play a significant role in Ukraine's economic recovery.

Source: asiatimes

Cadogan Petroleum fast-tracks energy projects in Ukraine

British oil and gas company Cadogan Petroleum is rapidly advancing its diversification into the Ukrainian energy sector. The company, which already operates in western Ukraine, plans to launch several new energy projects, including a 10 MW electricity generation initiative set for completion by Q4 2025. Cadogan is also finalizing a project to produce electricity from associated petroleum gas at the Blazhiv field in Lviv Oblast, expected to go live in early 2025.

Cadogan’s recent performance has been strong, with production rising 25% to 370 barrels per day and revenue reaching €4.4685 million in the first half of 2024. The company’s cash reserves have increased to €13.59 million. Cadogan’s expansion is part of a broader Ukrainian effort to rebuild its energy infrastructure amid ongoing challenges.

Source: english.nv

Two Ukrainian AI startups secure over €3M in funding

Two Ukrainian AI startups, Mantis Analytics and Osavul, have secured over €3M in funding. Mantis Analytics, which enhances security operations with real-time situational awareness, received €216,000 from the Nezlamni fund to accelerate its expansion into the US market. Founded in 2022, Mantis Analytics has grown from a volunteer initiative into a startup with significant potential.

Meanwhile, Osavul, an AI media analytics firm combating disinformation, raised €2.7M from 42CAP, u.ventures, and SMRK. Established in February 2022, Osavul plans to scale globally and improve its algorithms for data analysis in text, video, and audio formats.

Source: ubn.news

BUSINESS NEWS

Government eases construction permit rules for foreign companies

The Ukrainian Government has approved amendments to CMU Resolution No. 314, allowing foreign companies with permanent establishments in Ukraine to engage in construction activities for facilities classified as medium (CC2) and significant (CC3) consequence objects. This change, effective during martial law, simplifies the process by enabling companies to submit a free declaration of economic activity to the licensing authority instead of obtaining a construction license.

This measure aims to improve the regulatory environment for foreign firms, including Polish companies involved in border checkpoint projects under a 2015 loan agreement between Ukraine and Poland.

Source: kmu.gov

Grant support for Ukrainian businesses

To increase Ukrainian enterprise competitiveness, the USAID Program is offering grants for expanding production in the textile industry. Companies must create at least 15 jobs and increase sales by over €270,000.

Innovative Ukrainian inventors can compete for grants between €450,000 and €3.6 million for developing eco-friendly alternatives to fossil-based plastics in food packaging, focusing on recyclability and biodegradability.

Communities can apply for a $100,000 grant to support local economic and social development projects through a USAID competition.

The Ukrainian Red Cross’s REDpreneur.UA program will fund 70 business projects with €4,500 to €13,500 and provide long-term mentoring support.

Source: ubn.news

Ukrainian food chain “Puzata Hata” announces expansion

Ukrainian food chain “Puzata Hata” will open six new restaurants in 2024, investing €900,000 each, with 20 more under consideration. A new location recently opened in Kyiv’s Smart Plaza Obolon. Founded in 2003, the chain now operates 41 restaurants across six cities.

Source: ukrainetravelnews

EVENTS & CONFERENCES

International Trade Fair EuroBuildExpo ’2024

15-17 October, Kyiv

EuroBuildExpo ’2024 is a major event for the construction industry, bringing together architects, city planners, investors, and government officials. It provides a platform for showcasing construction materials, equipment, and technologies, and offers opportunities for market entry, partnership building, and technology exploration.

The fair includes the International Congress on "Institutional and Technical Aspects of Reforming Housing and Communal Services," focusing on energy efficiency, water management, and waste management. Organized by the International Exhibition Centre and supported by Ukraine's Ministry for Communities, Territories, and Infrastructure Development, the event will be held in Kyiv.

Learn more: iec.expo

International exhibition and conference ReBuild Ukraine

13-14 November, Warsaw

EXPO XXI ReBuild Ukraine exhibition and conference combines presentation of Ukraine's reconstruction projects, international experience of donor and investment projects, and powerful exposition of the latest materials and technologies for the construction and energy sectors.

Building on the success of the 2023 event, which drew over 5,000 people from around the world and 26 Ukrainian communities, this year's exhibition promises even more exciting presentations and partnerships. Last year, Finland had the second-largest group, with nearly 60 companies highlighting their expertise. Led by Finland's Minister of Foreign Trade, Ville Tavio, Business Finland brought over 40 companies, reinforcing its key role in Ukraine's rebuilding efforts.

We recommend becoming a member of ReBuild Ukraine to get the latest information on:

• Investment opportunities at the EU-Ukraine Investment Conference;
• Energy sector investment projects and solutions (Ministry of Energy);
• Restoration of critical and social infrastructure: local community initiatives
• Business partnerships in construction: collaboration between international and Ukrainian companies.

???? Preliminary Programme of events: https://lnkd.in/dXB_UX3Q. Take a chance to become a part of the largest construction project in Ukraine! Book your stand now and ensure your business has a place among the reconstruction leaders!

According to our knowledge, at least 30 Finnish companies confirmed their attendance! We, at Spondeo, will also attend this year, so contact us or come say hi and explore collaboration opportunities with us.

Webinar series by EastCham & EK

EastCham and the Confederation of Finnish Industries (EK) are launching monthly "Rebuild Ukraine Update from Kyiv" webinars. Senior Business Advisor Olena Litvinova Kutsai, MPA, will discuss Ukraine’s reconstruction, business opportunities, and market outlook.

The next webinar for EastCham and EK members will be held online on October 9th from 09:00 to 09:40.

Register here: https://lnkd.in/d3T3iujS

PROCUREMENT

Invitation for tender – Repair of heat supply facilities in the city of Slavutych

Published: 13 Aug 2024

Deadline: 29 Sept 2024

Details: Nefco

Invitation for tender – Repair of critical infrastructure, Ukraine – Component II – Pervomaisk

Published: 13 Aug 2024

Deadline: 24 Sept 2024

Details: Nefco

General Procurement Notice – Non-Revenue Water: reconstruction of water supply system for a selected district in Mykolaiv city, Ukraine

Published: 21 Aug 2024

Deadline: 31 Dec 2024

Details: Nefco

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