The Ministry of Economy of Ukraine and Nasdaq, a leading global technology company, have signed a Memorandum of Understanding to strengthen the Ukrainian economy and capital markets. The signing took place in the presence of Ambassador of Ukraine to the United States Oksana Markarova and U.S. Ambassador to Ukraine Bridget Brink.
As part of the agreement, Nasdaq and the Ministry of Economy will identify areas of collaboration that can advance the restoration and recovery of Ukraine’s economy. In particular, the Memorandum stipulates that Nasdaq will provide technical assistance to the Government of Ukraine for the forthcoming international finance centre in Ukraine, the development of capital markets in Ukraine, access of Ukrainian companies to long-term financing in international markets, and promote entrepreneurship among Ukrainians.
“The expertise and technologies of Nasdaq are important tools for attracting long-term financing for Ukrainian companies and developing organised markets. We are sincerely grateful to our U.S. partners for their systematic efforts to strengthen Ukraine’s economic capacity. Our goal this year is to become more economically self-reliant, and cooperation with Nasdaq is an opportunity to make our economy more resilient, create more equal opportunities, and realise our economic potential to the fullest,” said Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.
Nasdaq is also considering potential opportunities to waive listing fees for Ukrainian companies listing on Nasdaq’s U.S. and European markets. The fee waiver is subject to regulatory approvals.
“It will take a concerted global effort from both the public and private sectors to support the rebuilding of Ukraine’s economy, and this agreement is a first step to a deeper partnership between Nasdaq and Ukraine,” said Ed Knight, Executive Vice Chairman, Nasdaq. “Nasdaq has a long history of working closely with finance centres across the global economy to enable capital formation, spur innovation, and unlock economic progress. We look forward to continued discussions with the Government of Ukraine as we identify solutions that accelerate economic opportunities for Ukrainian citizens and businesses.”
The partnership between Nasdaq and the Government of Ukraine was facilitated by the United States Agency for International Development (USAID).
“This new partnership between Nasdaq and the Government of Ukraine demonstrates that Ukraine is open for business, even as they continue to fight for their freedom. Investors are already demonstrating their confidence in Ukraine’s future – which attracted more than USD 4 billion in foreign direct investment in the first three quarters of last year – and this partnership further underscores the attractive investment opportunities Ukraine offers. We welcome Nasdaq’s commitment to support the development of Ukrainian capital markets, which will be critical in the recovery effort,” said USAID Administrator Samantha Power.