Arab Emirates say Ukraine a promising investment destination

Ukraine is a promising growing market for investments from the United Arab Emirates (UAE), says Executive Director of the Abu Dhabi Investment Authority, one of the world’s largest sovereign wealth funds, Sheikh Hamed bin Zayed al Nahyan.

“Opportunities for investment in Ukraine are simply huge,” said the Sheikh at a meeting with Ukrainian Premier Mykola Azarov in Kyiv 26 November.

The Sheikh pointed out that the Abu Dhabi Investment Authority, which is effectively a state investment agency, notes that economic growth in developed countries has stabilized and developing markets that are beginning to pick up pace again interest the agency the most. He proposed that Ukraine put together and send him a package of investment projects for possible cooperation with the UAE.

“We are prepared to consider all projects that Ukraine proposes to us,” said Sheikh Hamed bin Zayed al Nahyan.

In his turn, Premier Azarov said that among such possible projects is modernizing the manufacture of farm equipment in Ukraine, as the domestic market for such equipment is very promising. He also noted the possibility of building and modernizing Ukraine’s ports, emphasizing that their prospects are excellent in terms of expanded trade in goods.

In addition, Mr. Azarov proposed that investors from the Emirates consider putting capital into building first-class hotels in Ukraine in preparation for Euro 2012. The official also expressed readiness to increase the volume of farm goods Ukraine ships to countries in the Gulf region and suggested that UAE investors consider putting capital into the agricultural sector as well.

“We’re ready to receive your investments, to consider every investment proposal, especially large-scale ones, to oversee projects through the Government, and to ensure support for you to carry them out,” said the Ukrainian Premier.

In addition, Mr. Azarov announced that Ukraine was interested in developing oil reserves in Abu Dhabi.

The Government press office has issued a statement on the visit, saying that the two sides agreed to maintain working contact between the Cabinet of Ministers of Ukraine and the Ministry of Foreign Affairs of the UAE in developing the aforementioned projects. Mr. Azarov also extended an invitation to the Premier of the UAE to visit Ukraine and was offered a similar invitation to go to his counterpart’s country.

Tags: investment, UAE