Oct 21, 2020

Farmak signed a memorandum of cooperation with Shostka amalgamated territorial community

The memorandum provides for the joining of efforts and opportunities between Farmak and the local community to implement projects for the social, economic and cultural development of the amalgamated territorial community. In addition, Farmak will help strengthen the interaction between entrepreneurs and local authorities and make their cooperation more effective.

“At present, the signing of such documents between large businesses and regional authorities is not a common practice in Ukraine. Usually, memoranda relate to certain investment plans of large companies in the region. However, our philosophy is not just to invest in manufacturing, but also to invest in the environment and thus create conditions for sustainable development,” said Volodymyr Kostiuk, Executive Director of Farmak.

According to Mr. Kostiuk, big business has the necessary resources not only to help communities with infrastructure projects. “We have serious experience in building a system business, which successfully operates not only in Ukraine, but also abroad. We believe that it will be interesting both for local business and local authorities. We can join the development of the modern and responsible business environment in Shostka amalgamated territorial community”, said V. Kostiuk.

The mayor of Shostka Mykola Noha believes that improvement of the business environment in the amalgamated territorial community and greater involvement of local business in community will be one of the most important results of cooperation under the memorandum.

The memorandum also provides for the implementation of a number of educational projects for children and young people, internship for students of the Shostka Institute of the Sumy State University on the basis of JSC Farmak’s divisions, as well as assistance in implementing projects aimed at improving the investment and tourist attractiveness of the amalgamated territorial community.

Farmak and Shostka amalgamated territorial community are currently working on developing a plan of joint projects and activities for the next year.

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