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hampered by relatively crude natural gas development technologies that were inspired by Russia. However, CEO Oleksiy Chernyshov plans to modernize the company's methods of natural gas development in Ukraine, primarily using experience from the US. It is noted that in April, Chernyshov arrived in Washington to talk with representatives of the American oil giants ExxonMobil, Chevron, and Halliburton and to receive political support from members of the US Congress regarding US investment in Ukraine's energy sector. In 2023, the Naftogaz Group plans to increase gas production by 8% compared to 2022.
9.2.4 Construction & Real estate corporate news
A new €15M construction materials plant will be built in the Ternopil region. This investment amount must first be secured to close the first stage of the agreement on creating the new building materials factory, the Investment Office of the Ternopil region informs. As specified, the workshop area of the future plant will be more than 30,000 square meters and create 150 new jobs.
The Austrian investor in the Respublika Park shopping center plans to participate in reconstructing Ukraine. According to the Austrian company's director, Vasyl Tolstunov, Trafin is currently working on several new investment projects for implementation in Ukraine. The company wants to expand its commercial and residential real estate portfolio and investments to help restore the country and develop infrastructure. Tolstunov emphasized that despite the risks, foreign companies should consider investing in Ukraine, as the country has attractive business opportunities and great potential. He noted that the sooner you enter this potentially interesting market, the greater the chances of success and development. Moreover, private foreign investments in Ukraine can increase if the government makes corrections to previously introduced restrictions and allows foreign investors to reclaim the funds they invested earlier. This will allow investors to reinvest funds in new Ukrainian projects, creating new jobs, fostering economic development, and increasing tax revenue for the budget.
9.2.5 Retail corporate news
One of Ukraine's largest electronics retailers has closed half of its stores.The Eldorado chain of stores has closed almost half of its sales branches since the beginning of the full-scale Russian invasion. The company could not/didn't want to accumulate funds to settle with suppliers for pre-purchased goods. Accordingly, their goods on hand are not enough to fill their stores, so they are closed," anonymous sources told the publication. As of December 2021, the company had 129 stores. However, since the full-scale invasion, the situation has changed dramatically. By the end of 2022, 40 stores were closed - with Russia destroying some of them. The chain continues to close stores throughout 2023. Now there are only 65 left. Since the beginning of summer alone, the company has closed 17 stores in Vinnytsia, Dnipro, Ivano-Frankivsk, Kropyvnytskyi
Ukraine designates PepsiCo, Mars as 'international war sponsors.' Ukraine's National Corruption Prevention Agency added major food corporations PepsiCo and Mars to the "international sponsors of war" list on Sept. 1.
Last year, Auchan Ukraine's income shrank by a quarter. Auchan Ukraine's
76 UKRAINE Country Report September 2023 www.intellinews.com