KYIV. Jan 27 (Interfax-Ukraine) – The Ukrainian-Arab Business Council recently created has initiated the creation of a bank in Ukraine, the founders of which could be large Arab businessmen.
Council President Sheikh Imad Abu Al-Rub gave the information at a first meeting of the Council on Thursday with participation of Ukrainian and Arab business circles, the press service of the Construction Academy of Ukraine that took part in the meeting.
“We have an idea to create a bank in Ukraine with 100% Arab capital. This would facilitate the entrance of many Arab companies to the Ukrainian market,” he said.
Sheikh Imad Abu Al-Rub said that during negotiations representatives of the National Bank of Ukraine (NBU) and the Ukrainian government preliminarily backed the idea.
He said that at its first meetings the Ukrainian-Arab Business Council is solving tactic tasks – shaping the agenda and establishing contacts between Ukrainian and Arab business circles.
Its core goal is to promote the attraction of at least $100 billion of investment to Ukraine.
“Arab companies would like to invest in agriculture, processing industry and large investment projects. Ukraine is a very rich country, rich of resources and people,” he said.
He said that Ukraine is to pass laws protecting foreign investment, stamp out corruption in the judicial system and facilitate visa issue for business circles.
In turn, Vice President of the Construction Academy of Ukraine Viktor Leschynsky who took part in the meeting confirmed that now Arab companies are actively looking for a possibility of investing in many economic sectors of Ukraine, including industry and construction.
“For example, the Construction Academy of Ukraine is to act the key expert body in appraising construction projects aimed at attracting investment from Arab countries,” he said.
He said that first negotiations regarding construction of grain terminals, elevators and flour mills were held.
“I also heard that Arab businessmen showed their interest in a possibility of building roads on the concession terms, chemical and steel companies. They have a large potential,” he said.
