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Monday, February 26, 2024

Former US Secretary of State Pompeo called on Ukraine to guarantee investment protection for the sake of victory and economic growth

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In Ukraine, talk about the likely nationalization of Kyivstar should be stopped, as this could have a negative impact on the country’s investment climate, as well as on the confidence of allies to counter the Russian invasion and resume after victory. In addition, due to the violation of property rights, Ukraine will miss the chance to build a strong economy to withstand any aggression.

This was stated by former US Secretary of State and CIA executive, and now a member of the Board of Directors of the largest Ukrainian mobile operator Mike Pompeo in an exclusive interview for ND.

Talking about nationalization would be a step back because Ukraine would require a huge amount of private sector investment, foreign direct investment, and support from Europe and the United States private sector to overcome the consequences of the war“, he said, recalling the need to protect property rights. By neglecting this, Ukraine will make a “strategic mistake”, because it will not be able to attract investments for reconstruction, capital flows will be very limited.

Pompeo noted that the largest Ukrainian telecom operator, owned by the international telecom group VEON, is “an important pearl of the Ukrainian economy” According to him, Kyivstar served the Ukrainian people incredibly well and was incredibly generous. He has also been an important part of helping the Ukrainian people over the past two years.

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Now is the time when we can start doing this. I came with a group of private investors from the construction industry to the telecommunications industry – from all areas“Pompeo said and emphasized the need for Ukraine to unconditionally comply with generally accepted rules of the inviolability of private property and the protection of investments.

[Інвестори] must do so with confidence that the capital they invest in Ukraine will be protected from confiscation or nationalization.”– he emphasized.

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Pompeo noted that the United States is ready to provide Ukraine with all the necessary support for victory, and Ukraine itself, in addition to fighting on the front line, must continue democratic transformations – they will provide economic power to resist Russian encroachments or aggression.

Pompeo calls the economic power of Ukraine one of the central elements of its security, so that the country can resist any military attacks. Therefore, the United States will help Ukraine achieve a strategic advantage over the enemy: on the battlefield, so that Ukraine dictates peace terms to the invader from a strong negotiating position, and in the economic sphere, to prevent future aggression.

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Evil is leaving Moscow, and this evil must be resisted. The Ukrainian people have done an amazing job and made enormous sacrifices for this. The United States must continue to support this in all dimensions: military, diplomatic, intelligence, and now commercial, Pompeo emphasized. – We need the private sector to identify opportunities, take risks and enter this space. And we need to make sure that the conditions that the Ukrainian government creates, which is the fundamental ability to protect fundamental rights, property rights, exist in such a way that we can implement this fourth important area, to convince Vladimir Putin that defeat of Ukraine is impossible.”

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Author: Svetlana SIMONENKO, specially for FACTS

Source: Fakty

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