VEON executives held a business investment forum in Kyiv attended by more than 100 leading business representatives.
The international group VEON and the Kyivstar company will invest $600 million over the next three years to restore the telecom network and develop new mobile technologies in Ukraine. This was reported by the Kyivstar press service.
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It is indicated that last week Kyiv was visited by the leaders of VEON – the founder of the group Auggie Fabeli, the CEO of VEON Group Kaan Terzioglu and a member of the supervisory board of directors of Kyivstar, former Secretary of State of the United States Mike Pompeo. They met in Kyiv with the head of the Office of the President Andrey Ermak, the US Ambassador to Ukraine Bridget Brink and the Deputy Ambassador of the Netherlands to Ukraine Esselin van Erten.
Members of the delegation held a business investment forum B2U: Business to Ukraine in Kyiv. During the event, more than 100 leading business representatives discussed the issues of improving the investment climate in the country, which will facilitate the influx of international business representatives to Ukraine, which will strengthen its economic stability.
Mike Pompeo said that he believes in the success of Ukraine and its support from the United States, regardless of the name of the next president. He also called Kyivstar “a great model” for Western investment, which Ukraine will need during its economic recovery.
“No matter who wins the presidential election in a few months in the United States, we will provide the necessary tools for Ukraine to win. This is important for Europe, this is important for my country. Good people must win, and the good people are the Ukrainian people.” , Pompeo said. He declared that the victory of the dictatorship was unacceptable, because “the world is in a very bad state.”
In turn, the CEO of VEON Group, Kaan Terzioglu, said that the company has no doubts about the need to support Ukraine and close the business in Russia.
“Since the first days of the mass war, VEON has been helping Ukraine. I would like to thank our international investors for their support in our exit from the Russian market, which we implemented in October 2023, and their unwavering focus on investing in Ukraine, including a commitment of $600 million. We will work around the clock to ensure success, a successful and inspiring future for the country,” Terzioglu stressed.
VEON said Kyivstar invested at least $174 million in capital investments last year and expects to expand the scale of future investments from $600 million over three years to $1 billion over five years, subject in favorable market conditions.
Let’s recall that in October 2023, the international holding VEON, which owns the Ukrainian cellular operator Kyivstar, left the Russian market. However, the agreement does not provide for the possibility of repurchasing the assets, that is, VEON leaves the Russian Federation forever.
Source: korrespondent
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