BUSINESSINDIVIDUALS

Saudi investors intend to invest $10 bln in Ukrainian agriculture

The businessmen from Saudi Arabia are expected to invest USD 10.5 billion in the Ukrainian agricultural sector.

Such a statement was made after the talks between Ukrainian Ambassador to the Kingdom of Saudi Arabia Vadym Vakhrushev and 25 local businessmen, the Novoye Vremia Ukrainian media outlet reports with reference to the Al Watan Saudi newspaper.

This decision is linked to stop of wheat cultivation in Saudi Arabia and the reorientation of investment in agriculture overseas. The decision will come into force in three years.

The parties also discussed the increase in investment in industry, real estate and tourism between the two countries.

According to the negotiators, the meeting will help enhance confidence between the two countries and open up opportunities for closer cooperation.

By Ukrinform