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shelters at production sites, acquiring new equipment and improving production processes, modernization of premises, and technological solutions for reducing their carbon footprint. In the second half of 2023, the company intends to invest a commensurate amount in developing its production sites. Last year, investment totaled $35M. Nestlé CEO Alessandro Zanelli said, "(That) despite the war, the company managed to maintain double-digit sales growth rates. We also continue to invest in our production and are building a new fourth factory in Ukraine."
9.2.6 Agriculture corporate news
The Rivne businesses plan will create a circular processing process for industrial hemp, announced the head of the Rivne administration, Vitaliy Koval. At a meeting headed by the regional administration, scientists and entrepreneurs discussed the prospects for the industry's development. On average, between 200 and 500 hectares are sown with industrial hemp annually in the region. The message reads, "Our goal is to increase the area and create a complete recycling process with added value." As noted, a plot of over 42 hectares has already been allocated for this purpose in the Privilena Territorial Community. Currently, approval of industrial park status is pending. Koval noted that 200 types of various products can be made from industrial hemp; it is used to produce medical products, cosmetics, in energy technologies, and as fabric for garment production.
A Kherson agricultural company plans to move to Odesa and build a new factory to replace its occupied facilities. The Chumak company plans to build a plant to produce tomato paste in the Odesa region. The company considers this region to be the most favorable in terms of climatic conditions. The relocation of Chumak's production facilities to the Odesa region will provide significant support for the area's agro-industrial complex and will also provide an opportunity to create almost 5,000 additional jobs. Chumak stopped production at its factory in Kakhovka, Kherson region, on February 24, fearing the threat from the Russian army. The company did not have time to take the equipment out of the warehouses, so Russians looted it. Currently, Chumak produces its products at competitors' facilities throughout Ukraine and abroad. Some tomato pastes, sauces, and mayonnaises are made in Lutsk, Kyiv, Zaporizhzhia, and Ternopil, while pasta is produced in Turkey and Italy.
9.2.7 TMT corporate news
Every year the number of IT companies in Ukraine grows by 10%. At the time of the full-scale invasion, there were about 4,500 IT companies in Ukraine. According to Kharkiv IT Research 2021, about 10% of IT companies close every year. But new companies are opening that counter this outflow from the market and add 5–10%. During the war, the IT business began a large-scale migration of its teams, which still continues. According to the Kharkiv IT Cluster, 280,000-300,000 specialists currently work in the Ukrainian IT sector. Approximately 20% (56,000–60,000 people) are currently relocated abroad. Thus, these businesses can demonstrate risk diversification to clients, obtain new contracts, and extend previous ones by involving mixed teams of specialists in Ukraine and abroad.
Despite the war, Nova Poshta keeps investing in logistics and increasing
61 UKRAINE Country Report August 2023 www.intellinews.com