About 30% of retail stores in Ukraine may not reopen after quarantine, experts have stated, as reported by Interfax. Many retailers are currently focused on negotiations with their landlords on lease terms during the quarantine period, in the worst case scenario and with some landlords not ready to cut rates during and after quarantine, 30% of stores will not open, predicted Colliers International, a leading global real estate services and investment management company.
The company said in its survey that many retailers have stopped working or are keeping busy with construction or renovations instead. “It is expected a significant decrease in rental rates after quarantine for at least six months to preserve tenant business. A number of large retail operators assume that in the worst case scenario and some landlords are not prepared to significantly review lease terms for tenants, almost 30% of stores may not open after quarantine,” according to the survey.
Quarantined business tenants should be allowed to pay only utilities, or agree with their landlord on rent cancellations, the Ukrainian Chamber of Commerce and Industry (UCCI) has suggested in a statement. Many entrepreneurs and firms in Ukraine are currently renting premises but cannot use them due to quarantine, the UCCI has said, adding that rent breaks for businesses would be consistent with COVID-19 lockdown relief laws adopted by the Verkhovna Rada on April 13.
President of the chamber Hennadiy Chizhikov said: “Earlier, the parliament exempted land owners and property owners from paying property taxes for March 2020. According to the Chamber of Commerce and Industry, property owners were able to save about UAH 2.9 billion. The privilege provided to property owners, landlords, in many cases, did not lead to a decrease in rents for entrepreneurs who were forced to stop working during the quarantine period.”
South Korea plans to send Ukraine humanitarian aid to fight COVID-19, the Ukrainian president’s office has stated. Deputy Head of the Office of the President of Ukraine Ihor Zhovkva met with Ambassador of the Republic of Korea to Ukraine Kwon Ki-Chang to discuss cooperation for the fight against the coronavirus (COVID-19) pandemic on Thursday. “The ambassador… said that Ukraine will receive humanitarian aid… in the near future, which was agreed upon by the leaders of the two states. The prospects of visa liberalization by the Republic of Korea for Ukrainian citizens and the development of a bilateral political dialogue at the top level were also discussed,” it said.
The U.S. will expand its assistance to Ukraine in countering the COVID-19 pandemic to $9.1 million, the Ukrainian Embassy in the United States reports. “The funds will be allocated to Ukraine through the United States Agency for International Development (USAID),” the Embassy’s press service said on Facebook. The assistance will be aimed at preparing laboratory systems, detecting a disease, providing technical support in responding to and communicating the risks of the spread of COVID-19.
Ukraine’s agriculture juggernaut keeps rolling forward despite the COVID-19 lockdown. Ukrainian farmers have planted one third of planned fields with spring crops as of April 17, the government reports. “The next weeks are the active phase of the 2020 spring sowing campaign. At the moment, a third of all spring crops, legumes and industrial crops have been sown,” Minister for Development of Economy, Trade and Agriculture Ihor Petrashko said, as reported by Interfax. “Despite the difficult weather conditions, in particular, the lack of effective moisture in the upper layers of the soil and night frosts, the sowing is proceeding rapidly and within an optimum time frame.”
Bogdan Motors company won a tender to supply 100 buses to Lviv with funds from the European Investment Bank. The Ukrainian automobile company has been recognized the winner of a tender for the purchase of 100 new low-floor buses in Lviv under the Ukraine Urban Public Transport program funded by the EIB, Bogdan Corporation spokesman Serhiy Krasulia has said. “On April 15, 2020, tenders for the purchase of 100 buses were approved in Lviv. Five participants submitted proposals, but Bogdan Motors’ price offer for Bogdan A70132 buses was recognized as the best. Now the tender committee, together with EIB experts, is studying the submitted documentation. Bogdan hopes that an agreement will be signed soon and the plant will start manufacturing buses,” he told Interfax-Ukraine.
