VEON's Commitment to Ukraine: Investment and Growth Insights

VEON Engages in Strategic Dialogue at the YES Forum

VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a prominent global digital operator specializing in converged connectivity and online services, participated actively in an important meeting dedicated to Ukraine's future and its role in Europe. This gathering, known as the Yalta European Strategy (YES) Annual Meeting, was held recently with a focus on Ukraine's aspirations and prospects on the European stage.

Key Figures in Attendance

The VEON delegation, a notable assembly consisting of influential leaders including Augie Fabela, the Board Chairman and Founder of VEON, and Mike Pompeo, a member of the VEON and Kyivstar Board, highlighted the company's dedication to investing in Ukraine. Other delegation members included Kyivstar's CEO Oleksandr Komarov and Marine Babayan, the Group Director of Corporate Affairs.

Discussions on Global Perspectives

During the gathering, Secretary Pompeo participated in a dynamic panel discussion moderated by former Polish President Aleksander Kwasniewski. The session focused on “Ukraine’s Role in Creating a Safe World”, featuring esteemed leaders such as Andrii Yermak, the Head of the Office of the President of Ukraine, Boris Johnson, former Prime Minister of the UK, and Kajsa Ollongren, a former Minister of Defence from The Netherlands.

The Future of US-Ukraine Relations

In a separate discussion, Pompeo engaged the audience with insights in a session titled “A Conversation with Mike Pompeo: Future of the US-Ukraine relationship”, which was moderated by CNN's Fareed Zakaria. The dialogues emphasized the critical role of sustained Western support for Ukraine's developments, reinforcing the importance of cooperation between various sectors.

Commitment to Investment in Ukraine

One of the core messages conveyed by the VEON delegation was the significance of private sector engagement in rebuilding Ukraine. Earlier this year, VEON committed to investing USD 1 billion from 2023 to 2027 to enhance Ukraine's telecommunications and digital infrastructure. This commitment was previously announced at the Ukraine Recovery Conference in Berlin, emphasizing VEON's proactive approach in a challenging environment.

Private Sector Vital for Recovery

Augie Fabela reiterated this point by stating, “We hope that VEON's commitment to invest USD 1 billion in Ukraine stands as an example that other foreign investors will follow. The private sector will be indispensable in shaping Ukraine’s recovery, and we are fully committed to building a stronger, more resilient economy.” Fabela further elaborated on the importance of maintaining connectivity and providing digital solutions to those in Ukraine, especially during tumultuous times.

VEON's Role in Ukrainian Telecommunications

As the parent company of Kyivstar, the largest telecommunications operator in Ukraine, VEON plays a crucial role in maintaining networks and services for millions of customers. With 23.4 million mobile and over 1.1 million fixed-line customers, Kyivstar has ensured that people in Ukraine remain connected through various adversities, including the ongoing conflict.

A Forum of Ideas

The YES Forum has long been a platform for discussion, fostering innovative ideas and dialogue for Ukraine's development. For over two decades, it has gathered key figures from diverse sectors, including heads of state and influential thinkers from within Ukraine and abroad, to share perspectives on transformative ideas for the country's growth.

About VEON

Operating in six countries worldwide, VEON connects with nearly 160 million customers, delivering digital services that aim to enhance lives and stimulate economic growth. Headquartered in Amsterdam and listed on both Nasdaq and Euronext, VEON is dedicated to its mission of enabling connectivity through technology-driven services. This dedication not only fosters individual empowerment but also supports broader economic stability and growth.

Frequently Asked Questions

What is VEON's recent investment commitment in Ukraine?

VEON has committed to investing USD 1 billion in Ukraine's telecommunications and digital infrastructure over a five-year period from 2023 to 2027.

Who were the key participants in the VEON delegation?

The VEON delegation included Augie Fabela, Mike Pompeo, Oleksandr Komarov, and Marine Babayan, who engaged with leaders and discussed Ukraine's future.

What role does VEON play in Ukraine's telecommunications sector?

VEON, through its subsidiary Kyivstar, is the largest telecommunications operator in Ukraine, serving millions of customers and maintaining essential services during difficult times.

What is the YES Forum?

The YES Forum is an annual event that fosters discussions about Ukraine's development by bringing together leaders from various sectors, including politics and business.

Where is VEON headquartered?

VEON is headquartered in Amsterdam, Netherlands, and operates in multiple countries around the world, enhancing connectivity for millions.

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