Norwegian – Ukrainian Chamber of Commerce (NUCC)’s Post

PRESIDENT RUTO: KENYA IS KEEN ON LEVERAGING KOREA TECHNOLOGY TO EXPAND OPPORTUNITIES June 4, 2024 Kenya and South Korea have signed a $485 million (KSh63 billion) concessional development funding on the sidelines of the Korea-Africa Summit. This includes $238 million (KSh30 billion) for the implementation of the Konza Digital Media City Project. President William Ruto said the project will boost the country’s digital ecosystem, a key government initiative aimed at expanding digital and creative economy opportunities for the young people of Kenya, at the Konza Technopolis. He commended Korea for the Economic Innovation Partnership Programme, which further supports Konza Technopolis. He made the remarks on Tuesday during talks with President Yoon Suk Yeol of Korea on the sidelines of the Korea-Africa Summit at the Korea International Exhibition Centre in Goyang, on the outskirts of Seoul. President Ruto thanked President Yoon for Korea’s support in establishing the Kenya Advanced Institute of Science and Technology (KENYA-AIST), modelled after the Korea Advanced Institute of Science and Technology, an institution pivotal in Korea’s economic transformation. He said Kenya-AIST is nearing completion and will be unveiled later this year. He invited President Yoon to Kenya during the official opening of the institute. “I take this opportunity to invite Your Excellency to join us during the opening ceremony. We are confident that this institution will be a prominent showcase of Africa-Korea scientific and technological collaboration,” he added. President Ruto cited the development of Bus Rapid Transit Line 5, the Nairobi ITS, the dualing of the 78km Machakos Junction-Emali Road, water supply and sanitation for the Konza Technopolis and the Vaccine Production Project as some of the ongoing collaborative projects between Kenya and Korea. During the meeting, President Ruto implored President Yoon to fast-track the implementation of the Kenya-Korea Bilateral Labour Agreement. President Ruto said Kenya is keen on enhancing trade relations with Korea to attain balanced trade between the two friendly nations. “Although the balance of trade currently favours Korea, we have an opportunity to work together to reduce this imbalance,” he stated. He outlined other areas of cooperation Kenya is pursuing with Korea, including maritime development, green industrialisation and manufacturing, among others. He noted that Kenya seeks Korea’s support in developing the semi-conductor industry through technology partnerships, infrastructure development and capacity building. On his part, President Yoon committed to enhancing the relations between Kenya and Korea for the mutual benefit of the citizens of both nations. He said that Korea is ready to support Kenya’s ambitious transformation agenda in technology, infrastructure development, and water and dam programmes.

Vientiane, wapresri.go.id - While attending the 27th ASEAN-Japan Summit held at the National Convention Center (NCC) Vientiane, Laos, Thursday (10/10/2024), Vice President K.H. Ma'ruf Amin called on ASEAN members to strengthen the ASEAN-Japan strategic partnership that benefits the people and is future-oriented. "The ASEAN-Japan partnership has contributed to peace and stability, and boosted regional economic growth. Going forward, the ASEAN-Japan partnership must be future-oriented," the Vice President said. Furthermore, the Vice President mentioned three focus areas of ASEAN-Japan cooperation. "First, promoting green economy," he said. The Vice President said Japan's support is crucial to accelerate the energy transition in the region, particularly through innovative financing mechanisms and low-carbon technology transfer. "I hope the 2nd Summit of the Asian Zero Emission Community (AZEC) will further strengthen collaboration to accelerate the energy transition in the region," he said. Second, the Vice President encouraged the acceleration of digital economic transformation. "The huge potential of the digital economy must be properly utilized, including through Japan's support for the Digital Economy Framework Agreement (DEFA)." He explained. The Vice President also added that cooperation in the field of future technology, such as artificial intelligence and the implementation of Society 5.0, can be promoted. Third, the Vice President called for maintaining peace and stability. "The ASEAN-Japan partnership must be a driver of regional stability and peace as well as the consistent application of international law," he said. On the occasion, the Vice President also expressed his appreciation for Japan's support for the AOIP. "Indonesia hopes that Japan can consider recognizing the State of Palestine in order to realize peace and achieve the Two-State Solution," the Vice President concluded. (RN/RJP, BPMI-Setwapres)

Saudi and Spain to strengthen bilateral economic cooperation in Oct 2022. The Saudi delegation’s visit to Spain included the third meeting of the SSJC, the Saudi-Spanish Business Forum, and the Saudi-Spanish Business Council, as well as a range of bilateral meetings, which saw the participation of more than 50 entities from Saudi’s public and private sectors. Throughout the three-day Saudi-Spanish Joint Committee, representatives from both countries explored ways to deepen economic collaboration across vital industries such as energy, water, technology, tourism, education, infrastructure, real estate, aviation, agriculture, and the environment, among others, as Saudi Arabia looks to accelerate its transformation into a global industrial powerhouse and world-class business and logistics hub. Speaking at the end of the SSJC, Faisal Bin Fadhil Alibrahim, Minister of Economy and Planning for the Kingdom of Saudi Arabia, said: “The third Saudi-Spanish Joint Committee has been a true success, enhancing and promoting collaboration between our nations and opening the door to a new phase of strategic cooperation across vital industries in both countries. “It has served as a highly productive platform to highlight the continuous progress being made under Saudi Vision 2030, and to also demonstrate the range of opportunities open to Spanish companies to invest in the Kingdom and contribute to our remarkable journey of transformation and innovation.” Alibrahim added: “As we continue to diversify our evolving economy, enhancing knowledge and technology transfers with key international partners like Spain will be key to developing the Kingdom’s industrial capabilities, and building a world-class, global business and logistics hub in the Middle East at the intersection of the world.” At the third SSJC in Madrid, Alibrahim joined Maria Reyes Maroto, Spain’s Minister of Industry, Trade and Tourism to outline ways to strengthen the long-standing bilateral relationship between the Kingdom and Spain. Saudi Arabia’s Minister of Economy and Planning highlighted the importance of strategic international economic partnerships in finding common ground and designing joint solutions to challenges facing impacting growth and prosperity today. https://lnkd.in/dMkR4ghg

Chinese vice minister visits Copenhagen to attract companies A Chinese delegation led by Ling Ji, the Vice Minister of Commerce, visits Copenhagen with the goal of attracting more foreign businesses. The delegation visited Denmark’s largest business organization, Dansk Industri’s headquarters, where they met representatives of the 15 biggest Danish companies, that are already doing business in China. Earlier, there was a surplus of companies wanting to enter the Chinese market, but recently the number of Danish companies wanting to expand and invest in China has declined. They discussed, what difficulties the Danish companies are facing, when doing business in China. According to the international director of Dansk Industry Thomas Bustrup, some of the representatives raised the issue of not being able to compete with the local and state-funded businesses in China. Bigger projects are often times assigned to the companies, that are able to do the project for the least amount of money, which is beneficial for the local companies. Thomas Bustrup said to the Chinese delegation, that the geopolitical tensions between China and the European Union are not beneficial for the Danish companies’ willingness to invest in the China. Furthermore he said, that Danish companies should invest in China’s green transition as China has ambitious climate goals. https://lnkd.in/g-i54Ayh

Nigeria and China Strengthen Economic Ties at Inaugural Trade Conference Nigeria and China have reaffirmed their commitment to deepening economic ties and enhancing bilateral cooperation at the first China-Nigeria Economic Cooperation and Trade Conference, held alongside the 2024 Forum on China-Africa Cooperation (FOCAC). The event was chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. In his keynote address, the Honourable Minister underscored the significance of South-South cooperation, highlighting its pivotal role in Nigeria’s sustainable development goals. As chair of the event, he also guided discussions that focused on critical areas of collaboration between the two nations. HM Edun emphasized President Tinubu’s dedication to fostering a business-friendly environment that attracts increased investment, particularly in key sectors such as infrastructure, energy, and industry. One of the conference’s standout outcomes was the signing of a $3.3 billion agreement to develop the Brass Industrial Park and Methanol Complex, a transformative project expected to significantly boost Nigeria’s industrial output and generate vital employment opportunities. Infrastructure development—a cornerstone of the China-Nigeria partnership—was a major focus of the discussions. Both nations reiterated their commitment to joint infrastructure projects, including roads, bridges, and energy systems, aimed at accelerating industrialization and driving long-term economic growth in Nigeria. Financial and security cooperation also took center stage, with both countries agreeing to enhance intelligence sharing to combat money laundering and financial crimes. This marked a critical step toward ensuring a secure and transparent financial environment, laying the groundwork for continued economic collaboration. As chair of the event, the Honourable Minister also highlighted President Tinubu’s bold economic reforms, designed to steer the country toward a sustainable growth path. He stressed the importance of leveraging both domestic resources and international partnerships, such as those with China, to ensure that these collaborations deliver tangible benefits to the Nigerian people. The conference concluded with a strong mutual commitment to ongoing engagement, open dialogue, and reinforced cooperation. Key infrastructure and security initiatives are seen as pivotal to achieving Nigeria’s economic objectives under the Renewed Hope Agenda, while also advancing China’s Belt and Road Initiative.

The AHK Ukraine - German-Ukrainian Chamber of Industry and Commerce & KPMG Deutschland conducted a survey among German companies in #Ukraine in spring 2024. Security is the main bottleneck, but stakeholders looking rather positive to the future: more than 40% plan new investments in the upcoming twelve months. 🗝 Key messages: 👉 Key conditions for expanding business activities are political and economic stability (61% and 51% respectively) as well as the availability of public funding and guarantees (28%). 👉 Business expectations: 42% of respondents expect the economic situation in Ukraine to improve over the next twelve months; 48% expect no change; 10% expect the situation to deteriorate. 👉 Intentions regarding investments: 43% of companies are planning new investments in Ukraine; only 8% intend to withdraw investments. 👉 Opportunities: For 48% of respondents the biggest opportunity is the market access, for 39% the availability of qualified workers and for 36% participation in reconstruction programs to rebuild Ukraine. 👉 Market entry: More than half of respondents cite access to local business networks (59%) and access to market information (54%) as key business requirements. 👉 Challenges: For 53%, the ongoing war is the biggest hurdle, for 38% it is security risks for their employees and for 31% it is local corruption. The new mobilization law that has come into force, will limit the availability of labor further. 👉 Utilizing available funds: Germany and the EU have set up funding programs worth billions of Euros. But 35% of German companies believe that the funds are unsuitable for their purposes; and 20% are yet unaware of these programs. Learn more about the survey: https://lnkd.in/ek6NE_CM) Nicolai Kiskalt Reiner Perau Yulia Svyrydenko Dr. Yulia Rybak

2024 – Vietnam’s Year of Progress Former Vietnamese-German Deputy Prime Minister Philipp Rösler Mr. Philipp Rösler made this observation in an online interview with the Government Electronic Newspaper on the eve of the 2024 Lunar New Year. Prof. Philipp Rösler speaks highly of the upgrading of the Comprehensive Strategic Partnership for peace, cooperation, and sustainable development between Vietnam and the United States during President Joe Biden’s state visit to Vietnam in September 2023. Less than two months later, General Secretary, State President of China Xi Jinping also visited Vietnam. In the early days of 2024, German President Frank-Walter Steinmeier led a business delegation to Vietnam. These “warm” visits signal positive prospects, opening up many opportunities to attract foreign direct investment and promote Vietnam’s foreign trade in 2024. Hoisting the Vietnamese flag high at international forums Commenting on Vietnam’s advantages, especially its participation in WEF Davos, Mr. Philipp Rösler assesses that in terms of cooperation, Vietnam has very good relations with both the United States, China, and the European Union. As an independent “player” in the global economy, Vietnam enjoys an excellent position in the context of increasing geopolitical tensions worldwide. Vietnam has a large workforce with skilled labor, high level of education, good English proficiency, diligence, discipline, and leading technological producing capabilities. Particularly, the business community in Vietnam always receives great support from the Government. At the high-level Vietnamese delegation led by Prime Minister Pham Minh Chinh attending the 54th World Economic Forum Annual Meeting (WEF-54) in Davos (Switzerland) in mid-January, there were many businesses. This demonstrates the support of the Government and the Vietnamese people for the business community, foreign direct investment, and international trade. According to Mr. Philipp Rösler, Vietnam’s leaders have been successful in attracting foreign resources for the country’s development. The Government proactively “hoists the Vietnamese flag high” not only at pure economic forums such as WEF Davos but also at others combining politics, geopolitics, and economics, environment protection such as COP27, achieving the goal of attracting all foreign resources to develop the country. These are very strong signs that Vietnam is actively participating in international forums, where Vietnam can attract foreign direct investment and seek trading partners. Commitment to fulfill the “order” of the Prime Minister Former German Deputy Prime Minister of Vietnamese origin Philipp Rösler said that in 2024, he expected to return to Vietnam to fulfill the “order” of Prime Minister Pham Minh Chinh at WEF-54, helping build a financial center in Ho Chi Minh City with Minister of Planning and Investment Nguyen Chi Dung and Chairman of the Ho Chi Minh Cit...

During his visit to Japan, UNIDO’s DG Gerd Müller met with Minister Saito Ken, Ministry of Economy, Trade and Industry of Japan and Parliamentary Vice-Minister Hosaka Yasushi, Ministry of Foreign Affairs of Japan, to express appreciation for the long-standing strong relationship between #UNIDO and #Japan and for the new quality of cooperation with two new major initiatives funded by Japan for recovery in #Ukraine and for sustainable development in countries of the Global South. He also met with the Chairman of JETRO - Collaborate & Invest Japan Ishiguro Norihiko. #JETRO will partner with UNIDO to implement the initiatives, facilitating technology transfer with Japanese companies, while UNIDO will facilitate the building of skilled workforces via vocational training in recipient countries. Focus will be on industrial #decarbonization, #cleanenergy, #food security, #digital transformation, and #circulareconomy. Müller noted: “Our joint work also underlines the importance of private sector involvement for sustainable development. We will work with Japanese companies to transfer innovations and low-carbon technologies to the Ukraine and countries of the Global South. Together, we will support the development of micro, small and medium-sized businesses, and the creation of good jobs.” Yuko Yasunaga, Deputy to the Director General and Managing Director of UNIDO, and Fumio Adachi, Head of ITPO Tokyo, who supported and accompanied the Director General during this mission, will lead the implementation of these significant programmes. Read more about his visit 👇 https://lnkd.in/dMXJ_tPW

⚡️5 reasons why Finnish businesses should invest in Lviv 🇫🇮The well-known Finnish business publication Kauppalehti has written a large article about Finnish companies entering the Ukrainian market and being interested in Ukraine's recovery projects. In particular, the article talks about Lviv, which is now the gateway to Ukraine. In this article, a well-known Finnish business consultant ⭐ JUKKA LAIKARI, who has been living in Lviv for a long time, spoke about 5 reasons for entering the Ukrainian market through Lviv, including security, geographical location, development of IT technologies, logistics, and low corruption. 💬According to Jukka Laikari, Finnish companies don't need to start their business in Kyiv; Lviv is also a suitable starting point. 📌It is worth noting that the presence of Finnish companies in Ukraine has historically been relatively small compared to countries such as Sweden and Denmark. Currently, about 30 Finnish companies are operating in Ukraine. In Lviv, Finnish business is represented by Hotel Leopolis, Tietoevry, KONE, Aon Ukraine, and Ruukki Ukraine. Also this year, the EastCham Finland Chamber of Commerce and the Confederation of Finnish Industry (EK) opened a joint office in Kyiv to help Finnish companies with recovery projects in Ukraine. 📎Read more about Finnish companies entering the Ukrainian market in an article by the well-known Finnish business publication Kauppalehti here: https://cutt.ly/aw6oRwgW 📎Read more about "5 reasons to enter the Ukrainian market through Lviv" at the following link: https://cutt.ly/Hw6iUYOr Lviv City Council Invest in Lviv EastCham Finland East Office of Finnish Industries Oy Janne Harjunpää

The 10th Kyiv International Economic Forum will be held on November 7 ☝️ 👥️ Experts, entrepreneurs, government officials, and international partners are invited to this landmark economic event to discuss important issues and challenges that the Ukrainian economy may face. The forum's central theme is the analysis of world events and how they can affect the politics of different countries and the future of Ukraine's economy. The forum will also be devoted to the following topics: ✔️What awaits the whole world and how the war can affect Ukraine; ✔️Prospects for Ukraine's accession to the EU and protection of its economic interests; ✔️How to properly conduct industrial policy in Ukraine during the war; ✔️What challenges and opportunities exist in the field of Ukrainian human capital; ✔️Prospects and scenarios for the development of the Ukrainian energy industry; ✔️How Ukraine can cooperate with international financial institutions; ✔️Ukrainian MilTech on the global technology market; ✔️What role can business play in Ukrainian recovery; ✔️Development of relations between entrepreneurs and authorities. ✔️The Kyiv International Economic Forum has been held for 10 years in a row, and its primary goal is to unite business and government. You can register for participation at the link https://lnkd.in/d4PbR_e3 Read Bureau of Investment Programs on Facebook 👉 https://lnkd.in/evrVDqdG