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13:21 02 Mar 2021

UAE to invest in mining in Ukraine: what we know

The visit of the Ukrainian delegation led by the President of Ukraine Volodymyr Zelenskyi to the United Arab Emirates was successful. Work on implementing the investment agreements reached between the leading companies of the two countries is already underway.

Deputy Head of the Office of the President of Ukraine Ihor Zhovkva announced this, "Ukrainian News" reports. According to him, the visit of the Ukrainian delegation to the UAE, which took place from 14 to 15 February 2021, culminated in the signing of 18 intergovernmental agreements and memoranda on the prospects of investment cooperation between large Ukrainian businesses in various fields (energy to industry) with the UAE largest investment company, Mubadala.

Hennadiy Butkevych, a Ukrainian entrepreneur, co-founder of ATB Corporation, and head of the BGV Group, was also spotted in the UAE. The editorial office got a hold of a photo of Butkevych with the Ambassador Extraordinary and Plenipotentiary of the UAE to Ukraine Salem Ahmed Al-Kaabi, taken during a visit to the exhibition.

BGV Group Буткевич

According to the Emirates News Agency, a memorandum of understanding was signed between BGV Group and Mubadala. In comments to the media, Hennadiy Butkevych said that the document provided for the study of potential opportunities for mutually beneficial cooperation between companies in the mining and production of high value-added products in Ukraine.

"You surprised me, worked as intel! Yes, indeed, I flew to the UAE at the invitation of Mr. Salem Ahmed Al-Kaabi. Big business in the UAE is very interested in participating in the development of Ukrainian deposits and mining using its capital. In turn, the strategic goal of BGV Group isn't only to extract and export minerals, but also to use them for production in Ukraine. It'll create a vertically integrated industrial infrastructure in compliance with world standards, which will allow our country to move by creating a value chain and achieving maximum environmental production safety. Our interests in this issue coincide with Arab investors," Butkevych said.

BGV Group Буткевич

In turn, the UAE Ambassador to Ukraine noted that the investment company Mubadala has extensive experience in entering new emerging markets, and Ukraine has a very promising potential for foreign investment.

In particular, Salem Ahmed Al-Kaabi confirmed the signing of the Memorandum between BGV Group and Mubadala, expressing confidence in the constructiveness and mutually beneficial prospects of investment cooperation between the two companies.

"We studied the investment and industrial potential of Ukraine in the mining sector. The signing of the Memorandum of Understanding between BGV Group and Mubadala shows the keen interest of the UAE's largest national fund in potential cooperation in this area. Ukraine has brilliant prospects, which I hope will be realized within joint projects," Al-Kaabi said.

BGV Group Буткевич

Note. BGV Group is a Ukrainian investment management company. It unites several Ukrainian enterprises that have licenses for ore mining, exploration, and development of oil and gas fields. The company specializes in the extraction of metals and rare minerals that are of particular importance for high-tech industries: beryllium, rare earth metals, graphite, uranium, zirconium, titanium.

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