As part of the official trip of the president of Ukraine to the United Arab Emirates, the Ukrainian delegation constituted of official governments and the representatives of the leading private companies signed investment memorandums and contracts worth over 3 billion USD.
Among the business delegation were 18 companies such as BGV, DTEK, Dragon Capital, Epicenter, EastOne, Fortoir, Horizon Capital, Interpipe, Mais, Metinvest, Oschadbank, OdessaGas, TAS Group, UMG, and UFuture.
Most of the contracts were signed with Mubadala Investment Fund, a sovereign fund with $232 billion (AED 853 billion) business across six continents. According to Bloomberg, the company aims to increase its assets to $500 billion during this decade. Headquartered in Abu Dhabi, Mubadala also has offices in London, Rio de Janeiro, Moscow, New York, San Francisco, and Beijing. In 2020 the fund grew its new investments by 51% up to $11,5 billion.
Citing Khaleej Times Faris Al Mazrui, head of Mubadala’s investment program in the Commonwealth of Independent States said: “Mubadala has established a strong track record of entering new and emerging markets. Ukraine has very promising potential for foreign investment, and the signing of MoUs with leading entities in Ukraine represents a commitment to explore potential investments and areas of cooperation on a case-by-case basis. We are impressed by the quality and caliber of Ukrainian businesses.”
Among the key signings and insights are the following:
- DTEK, MASDAR, and Mubadala signed a MOA in the field of renewable energy.
- State-owned Oschadbank and Mubadala signed an agreement on detecting potential initiatives for mutual investments in Ukraine
- The Ministry of Economic Development, Trade, and Agriculture of Ukraine and the Ministry of Food Security of the United Arab Emirates signed a MOA on food trading facilitation and the launch of agrohub. According to Tymofiy Milovanov, an advisor of the President of Ukraine on the economy, Abu Dhabi aims to increase trading and investments in the agro sector of Ukraine to $2 billion per year.
- INTELMAX Management Consulting based in Abu Dhabi will open a representative office in Ukraine to cooperate with the Ministry of Finance of Ukraine. The main aim of the cooperation is to launch a Fantom blockchain-based platform for sharing intellectual property, as well as to integrate blockchain technology in state services.
- Dubai Ports World plans to build several new port terminals in Yuzhny port, the busiest port of Ukraine. The terminals will be suitable for crops, minerals, wood, liquids, etc. In June 2020 DP World bought the control stock of the container terminal TIS in Yuzhny.
- State Property Fund of Ukraine and UkraineInvest (investment promotion agency) signed a MOA on creating opportunities for large-scale investments in Ukrainian state-owned enterprises available for privatization.