Veon, Kyivstar set in motion $600M investment plan

VEON and its wholly-owned subsidiary Kyivstar announce that they have now officially started the implementation of the 600 million USD investment commitment in rebuilding Ukraine, as initially announced in June 2023. VEON‘s commitment to invest in Ukraine, including the 600 million USD plan that covers the three-year period from 2024-2026, was the focus of a visit last week by a high-level delegation to Kyiv. Former U.S. Secretary of State Michael R. Pompeo joined the delegation, visiting Kyiv for the first time after joining Kyivstar as a Board member in November 2023. Following up on their “Invest in Ukraine, NOW!” campaign, VEON and Kyivstar have also co-hosted “B2U: Business to Ukraine”, a business and investment forum in Kyiv. During the Forum, more than 100 representatives of Ukraine’s leading businesses held discussions on improving the investment climate in the country, which is expected in turn to support the flow of international business to Ukraine, contributing to the country’s economic resilience. Kyivstar invested roughly 174m USD in capex in 2023, and expects to widen the scope of its future investment commitment from 600m USD in 3 years to 1 billion USD in 5 years, if market conditions permit.