Ukraine and Nasdaq Forge Partnership to Revitalize Economy and Capital Market

by Roman Cheplyk
Tuesday, February 13, 2024
Ukraine and Nasdaq Forge Partnership to Revitalize Economy and Capital Market

The Ministry of Economy of Ukraine has inked a memorandum of understanding with Nasdaq, the premier global technology entity, to bolster the Ukrainian economy and enhance its capital market

This collaboration aims to identify cooperative ventures that could aid in the economic resurgence of Ukraine.

Under this memorandum, Nasdaq commits to offering technical support to Ukraine's government for the forthcoming international financial center in the country, the advancement of capital markets, and facilitating Ukrainian companies' access to long-term financing on international platforms.

Yuliya Svyridenko, First Deputy Prime Minister and Minister of Economy of Ukraine, expressed gratitude towards Nasdaq for their indispensable expertise and technologies that will enable the development of markets for long-term financing and organized capital markets in Ukraine. She also thanked the US government and American partners for their continued efforts in strengthening Ukraine's economic capabilities.

An aspect of the memorandum is Nasdaq's contemplation of waiving listing fees for Ukrainian companies on its markets in the US and EU, subject to regulatory approval. Edward Knight, Nasdaq's Executive Vice President, highlighted the agreement as a foundational step towards a more profound partnership between Nasdaq and Ukraine, emphasizing the global collaborative effort required for Ukraine's economic recovery.

The United States Agency for International Development (USAID) facilitated this partnership, indicating the growing investor confidence in Ukraine's future, evidenced by over $4 billion in direct foreign investments received in the first three quarters of the previous year. This partnership underscores the enticing investment opportunities Ukraine presents.

Nasdaq, known for its innovation in indexes and advanced technology provisions, operates as a crucial technology provider for various financial market participants worldwide. This agreement comes at a time when Nasdaq continues to expand its global footprint, including notable acquisitions and strategic decisions aimed at enhancing global financial markets' efficiency and accessibility.

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