Kuwait, Ukraine eye closer economic coop.

Kuwait Chamber of Commerce and Industry and the Ukrainian embassy in Kuwait co-organized a virtual event on Tuesday, aiming at opening new horizons for bilateral economic cooperation.

The event embraces a presentation on single-window services offered to investors in Ukraine and legal legislation enacted to protect foreign capital, as well as available investment openings in numerous vital sectors, the chamber said in a press statement.

“Joint relations between both friendly nations have been greatly developed since they were forged in 1993 by virtue of governmental efforts to revamp the business climate and commercial movement,” the chairman’s deputy chairman Fahad Al-Jawan was quoted by the statement as saying.

He added that the chamber’s efforts mainly stem from its responsibility for contributing to a further promotion of bilateral economic cooperation by means of boosting trade exchange and encouraging strategic partnerships.

On his part, Ukrainian Deputy Foreign Minister Dmytro Kuleba said his government is interested in bolstering investment cooperation with the Gulf Cooperation Council (GCC) countries, especially Kuwait.

He boasted that the Ukrainian government has recently enacted many pieces of legislation targeting holistic economic reforms and further foreign capital attraction incentives as well as more developed infrastructure.

He added that his country has adopted an initiative purposed to draw foreign capital by allocating USD 16 billion to carry out mega projects in several vital sectors, including mining, real estate, renewable energy, farming and information technology.

The Ukrainian official hoped that Kuwaiti companies would join the execution of these strategically significant projects in Ukraine.

Source: Kuwait News Agency