AGL 5.60 Decreased By ▼ -0.18 (-3.11%)
ANL 8.90 Increased By ▲ 0.02 (0.23%)
AVN 76.85 Decreased By ▼ -2.07 (-2.62%)
BOP 5.26 Decreased By ▼ -0.02 (-0.38%)
CNERGY 4.63 Decreased By ▼ -0.07 (-1.49%)
EFERT 81.27 Decreased By ▼ -0.33 (-0.4%)
EPCL 50.08 Decreased By ▼ -0.83 (-1.63%)
FCCL 13.16 Decreased By ▼ -0.22 (-1.64%)
FFL 5.69 Decreased By ▼ -0.03 (-0.52%)
FLYNG 7.07 Decreased By ▼ -0.08 (-1.12%)
FNEL 4.79 Decreased By ▼ -0.03 (-0.62%)
GGGL 8.80 Decreased By ▼ -0.10 (-1.12%)
GGL 14.55 Decreased By ▼ -1.33 (-8.38%)
HUMNL 5.69 Decreased By ▼ -0.08 (-1.39%)
KEL 2.63 Decreased By ▼ -0.03 (-1.13%)
LOTCHEM 28.60 Decreased By ▼ -0.45 (-1.55%)
MLCF 24.49 Decreased By ▼ -0.61 (-2.43%)
OGDC 72.43 Decreased By ▼ -0.02 (-0.03%)
PAEL 15.36 Increased By ▲ 0.01 (0.07%)
PIBTL 5.00 Decreased By ▼ -0.05 (-0.99%)
PRL 16.10 Decreased By ▼ -0.19 (-1.17%)
SILK 1.08 Decreased By ▼ -0.01 (-0.92%)
TELE 9.14 Decreased By ▼ -0.23 (-2.45%)
TPL 7.23 Decreased By ▼ -0.10 (-1.36%)
TPLP 18.61 Decreased By ▼ -0.34 (-1.79%)
TREET 21.68 Decreased By ▼ -0.32 (-1.45%)
TRG 136.71 Decreased By ▼ -4.44 (-3.15%)
UNITY 16.88 Decreased By ▼ -0.14 (-0.82%)
WAVES 9.86 Decreased By ▼ -0.04 (-0.4%)
WTL 1.41 No Change ▼ 0.00 (0%)
BR100 4,225 Decreased By -29.6 (-0.7%)
BR30 15,518 Decreased By -214.7 (-1.36%)
KSE100 42,150 Decreased By -243.4 (-0.57%)
KSE30 15,588 Decreased By -75.7 (-0.48%)
Follow us

KYIV/NEW YORK: Ukraine’s President Volodymyr Zelenskiy remotely rang the opening bell at the New York Stock Exchange on Tuesday as his nation appealed for billions in private investment to rebuild factories and industries destroyed by Russia.

Zelenskiy’s government launched a platform of over 500 projects worth $400 billion for foreign investors to help rebuild Ukraine’s economy, even as war with Russia drags on.

Zelenskiy appeared on a video screen behind the platform overlooking the NYSE floor where the opening bell is traditionally rung. Traders applauded and whooped while a banner read: “We are free. We are strong. We are open for business.”

Fresh from a roundtable with top executives from JP Morgan, Pfizer Inc and other US companies, Zelenskiy said in English that Ukraine was already rebuilding its economy, more than six months since the Russian invasion.

“Ukraine is the story of a future victory and a chance for you to invest now in projects worth hundreds of billions of dollars to share the victory with us,” he said.

The United States and allies in Europe and Asia have already sent billions in aid, weapons and other security spending.

The “Advantage Ukraine” initiative - first flagged at a recovery conference in Switzerland in July - focuses on 10 key sectors, including the military-industrial complex, energy, pharmaceuticals, metallurgy, woodworking, and logistics.

‘INVEST NOW’

“It is necessary to invest in Ukraine now, and not wait for the end of the war,” Economy Minister Yulia Svyrydenko said in a statement.

Advertising group WPP is leading the marketing campaign for the initiative.

Ukraine is also appealing for some $5 billion in international aid each month to keep its economy running, in addition to military aid from NATO alliance members.

Svyrydenko told Reuters last month that Ukraine’s economy should stabilise over the coming year and expand by as much as 15.5% in 2023, after a likely contraction of 30-35% this year.

On Tuesday, she said Ukraine was keen to bring back foreign direct investment, which had reached $6.7 billion before the war. “The Russian invasion adjusted our short-term plans, but did not force us to abandon our strategic goals,” she said.

After registering on the platform, potential investors will receive information about opportunities.

The economy ministry said it was providing grants to existing businesses, and has already helped relocate 700 businesses from the frontlines of the conflict, of which 480 had already resumed work.

Comments

Comments are closed.

Ukraine’s Zelenskiy ‘rings’ NYSE bell in quest for foreign investment

Imran Khan seeks power even if it undermines country's foundations: PM Shehbaz

Pakistan 'verifying reports' over IS-K claiming attack on Kabul embassy

CM Punjab Parvez Elahi says 'Gen Bajwa showed us way towards PTI'

Fawad says PTI ‘preparing for elections’ as Imran withdraws offer for talks

Tweets case: Quetta court approves Azam Swati’s five-day physical remand

Russia will not export oil subject to Western price cap, says deputy PM

PTI in front seat in second phase of AJK local govt polls

Air pollution hurts Bangladesh GDP as well as health: World Bank

India plans federal oversight of all real-money online games

PM Shehbaz felicitates people of Sindh on culture day celebrations