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Embassy of Ukraine in the Republic of Singapore
Straites Times June 5, 2007, Singapore
Ukraine seeks investments in tourism, infrastructure
By Alvin Foo
INFRASTRUCTURE, energy, construction, agriculture and tourism.
These are some of the areas ripe for investment in the relatively unexplored Ukraine market, local
companies were told yesterday at a Singapore Business Federation (SBF) seminar.
The business-matching seminar, which was attended by 130 SBF members, was held alongside the
visit of a 24-member business delegation from the former Soviet republic.
Two memorandums of understanding were also inked between the International Chamber of
Commerce (ICC) Ukraine as well as the SBF and the Singapore International Chamber of
Commerce.
These aim to promote bilateral trade and investments between businesses from both countries.
Said SBF vice-chairman Kwek Leng Joo: 'We are confident that with the Ukrainian government's
commitment towards its development into a more competitive and advanced economy, there'll be
many opportunities for Singapore businesses.
'These include not only general trading, but also investments in sectors such as hydrocarbons, real
estate, manufacturing, infrastructure, hospitality and tourism and other service industries.'
The signs seem promising.
According to Dr Viktor Mashtabei, Ukraine's Ambassador to Singapore, the flow of Singaporeans to
his country increased three times from 2003 to last year - of whom, 60 per cent are businessmen.
He added: 'It's no longer products of steel, oil and gas and food-
processing industries. Now, Ukraine and Singapore already cooperate in 15 new areas.
'There are a number of new players. Among them are Singapore Technologies, PSA, Keppel Fels,
Amtel Property Developments, Ranbaxy Laboratories and City Developments.'
Among the problems Ukraine is ironing out are language difficulties and airport links.
Said Mr Volodymyr Shchelkunov, the chairman of ICC Ukraine: 'We aim to get US$3 billion of
investments from Singapore in the first stage, with an annual growth of about 5 to 10 per cent for five
years.'
The amount is equivalent to S$4.6 billion.
Ukraine seeks investments in tourism, infrastructure
By Alvin Foo
INFRASTRUCTURE, energy, construction, agriculture and tourism.
These are some of the areas ripe for investment in the relatively unexplored Ukraine market, local
companies were told yesterday at a Singapore Business Federation (SBF) seminar.
The business-matching seminar, which was attended by 130 SBF members, was held alongside the
visit of a 24-member business delegation from the former Soviet republic.
Two memorandums of understanding were also inked between the International Chamber of
Commerce (ICC) Ukraine as well as the SBF and the Singapore International Chamber of
Commerce.
These aim to promote bilateral trade and investments between businesses from both countries.
Said SBF vice-chairman Kwek Leng Joo: 'We are confident that with the Ukrainian government's
commitment towards its development into a more competitive and advanced economy, there'll be
many opportunities for Singapore businesses.
'These include not only general trading, but also investments in sectors such as hydrocarbons, real
estate, manufacturing, infrastructure, hospitality and tourism and other service industries.'
The signs seem promising.
According to Dr Viktor Mashtabei, Ukraine's Ambassador to Singapore, the flow of Singaporeans to
his country increased three times from 2003 to last year - of whom, 60 per cent are businessmen.
He added: 'It's no longer products of steel, oil and gas and food-
processing industries. Now, Ukraine and Singapore already cooperate in 15 new areas.
'There are a number of new players. Among them are Singapore Technologies, PSA, Keppel Fels,
Amtel Property Developments, Ranbaxy Laboratories and City Developments.'
Among the problems Ukraine is ironing out are language difficulties and airport links.
Said Mr Volodymyr Shchelkunov, the chairman of ICC Ukraine: 'We aim to get US$3 billion of
investments from Singapore in the first stage, with an annual growth of about 5 to 10 per cent for five
years.'
The amount is equivalent to S$4.6 billion.
EYE ON BUSINESS: Businessmen make up
60 per cent of the Singaporeans who travel
to Ukraine, says Dr Mashtabei.
60 per cent of the Singaporeans who travel
to Ukraine, says Dr Mashtabei.
Mr Volodymyr Shchelkunov, the chairman
of ICC Ukraine: 'We aim to get US$3 billion
of investments from Singapore in the
first stage, with an annual growth of
about 5 to 10 per cent for five years.'
of ICC Ukraine: 'We aim to get US$3 billion
of investments from Singapore in the
first stage, with an annual growth of
about 5 to 10 per cent for five years.'