Ukraine News Updates - November 28, 2024
Ukraine and Denmark Agreement on Fast-Track Investments
Ukraine and Denmark have agreed to implement a fast-track investment mechanism to help businesses quickly overcome market barriers and improve the business climate. Ukraine's First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko, and Denmark's Minister of Entrepreneurship, Morten Bødskov, signed a Memorandum of Understanding during the Danish-Ukrainian business forum in Kyiv on November 25. The mechanism will serve as a single-entry point for Danish companies investing in Ukraine, facilitating communication to address challenges. This agreement builds on a previous memorandum from April 2024, which included €40 million for Denmark's EIFO fund to promote investments in Ukraine and an additional €380 million for critical infrastructure using renewable energy. Read more.
Estonia Boosts Cyber Support for Ukraine
First Deputy Speaker of Ukraine's Parliament, Oleksandr Kornienko, met with Estonia's Minister of Justice and Digital Affairs, Liisa-Ly Pakosta. They discussed Estonia's leadership in the IT coalition and the launch of the Tallinn Mechanism to enhance cyber support for Ukraine—significant steps for deepening cooperation, especially in digital affairs. Kornienko expressed gratitude for Estonia's unwavering support for Ukraine's EU integration and emphasized the importance of strengthening international collaboration. Read more.
Ukraine and Czech Republic Strengthen Defense and Humanitarian Ties
President Volodymyr Zelensky met with Czech Foreign Minister Jan Lipavský during the Third International Summit on Food Security "Grain from Ukraine" in Kyiv. They discussed defense support, including the supply of artillery shells, and cooperation in countering Russian disinformation. Zelensky thanked the Czech Republic for its continued assistance since the invasion's start and noted its active role in Ukraine's reconstruction, including increased funding for post-2025 recovery programs. Read more.
Sweden Announced Funding Ukraine's Long-Range Weapons
Sweden will allocate significant funds to Ukraine to produce long-range missiles and drones, announced Swedish Defense Minister Paul Jonson during a meeting with Ukrainian Defense Minister Rustem Umerov in Stockholm. Following the "Danish model," the funds will boost Ukraine's defense industry to produce more of its own weapons systems. Jonson emphasized that Sweden does not limit Ukraine's use of donated funds and arms, including on Russian territory, affirming Ukraine's right to self-defense under international law. Read more.
Ukraine Seeks Military Aid from South Korea
A Ukrainian delegation led by Defense Minister Rustem Umerov is visiting South Korea this week to request military assistance in the fight against Russia, according to multiple media reports. The delegation reportedly met with South Korean officials to discuss the provision of weapons, including artillery and air defense systems. While South Korea has so far focused on non-lethal aid, it faces increasing pressure to supply lethal military support amid escalating Russian attacks on Ukrainian infrastructure. Read more.
GRECO Approves Ukraine's Anti-Corruption Progress
Ukraine has made significant strides in implementing GRECO's anti-corruption recommendations for judges, prosecutors, and parliamentarians. At the 98th GRECO plenary meeting in Strasbourg, Ukraine's delegation, led by NACP Head Viktor Pavlushyk, reported full implementation of key recommendations on financial transparency, lobbying regulation, and strengthening judicial integrity. The European Commission will consider this progress in assessing Ukraine's EU membership criteria. Read more.
Ukraine and World Bank Unveil 'Matrix of Reforms'
Ukraine and the World Bank have presented the "Matrix of Reforms," a comprehensive plan to reform public investment management, strengthen the rule of law, and improve the business environment. Prime Minister Denys Shmyhal emphasized that wartime reforms are as crucial as a strong army and economy. Key steps include creating a Strategic Investment Council, forming a Single Portfolio of Public Investment Projects, and focusing on energy decentralization and renewable sources. The plan aims to implement reforms to fully foster economic growth and EU integration. Read more.
Ukraine's Tech Stars Head to CES
Eight Ukrainian hardware startups—S.Lab, Syla, Qudi, Versi Bionics, eXtra Vision, Beetless, Pickpad, and Profeed—will represent Ukraine at CES 2025 in Las Vegas from January 7-10. Their innovations include bionic prosthetics for hands and knees using AI (Versi Bionics, SYLA), an AI platform for surgery and medical training (eXtra Vision), eco-friendly packaging from plants (S.Lab), pesticide-free pest control traps (BEETLESS), a smart restaurant ordering system (PICKPAD), AI avatar masks (Qudi), and a feeding management system for farms (PROFEED). This global event offers them a prime opportunity to gain international exposure, find new partners, and attract investments to strengthen Ukraine's economy. Their participation is supported by USAID's "Competitive Economy of Ukraine" program, the Ministry of Digital Transformation, and the Ukrainian Startup Fund with UVCA's backing. Read more.