Page 10 - bne IntelliNews monthly magazine November 2024

10 I Companies & Markets bne November 2024
Xavier Niel, Founder of Iliad Group and NJJ Holding said: “We are delighted to reach this significant milestone with international institutions IFC and the EBRD. Without their support, the completion of our major investment in Ukraine’s telecoms sector would not have been possible. Our long-term financial partnership with the EBRD and IFC underscores
our shared commitment to Ukraine’s economic growth and highlights the country’s promising investment potential.”
As the largest single foreign direct investment into Ukraine by a major strategic investor since Russia’s invasion, the project is expected to send a strong positive signal to investors.
Mark Bowman, EBRD Vice President, Policy and Partnerships, said: “The telecoms sector has been essential to Ukraine’s welfare and economic resilience since the war began. This operation will result in a large and reliable telecommunications operator, important domestically, as well as a very significant international investment in the Ukrainian economy, which we are proud to be part of.”
It is also critical for Ukraine’s ongoing war effort, as telecoms play a vital role in government functions and education, which have increasingly moved online. It will deliver improved mobile connectivity to 10mn subscribers and provide faster and more reliable fixed broadband access to around 4mn homes.
Makhtar Diop, IFC Managing Director said: “By strengthening digital connectivity and network resilience, we are delivering a vital service to millions of Ukrainians while reaffirming our commitment to the country. This project is the largest foreign
direct investment by a major strategic investor since Russia’s invasion. It sends a strong message to global investors about the resilience and significant potential of Ukraine's economy."
The project will also support the telecoms sector’s recovery from the estimated $1.9bn in direct damages and $750mn in losses incurred since Russia’s invasion, the EBRD said.
Jean-Noël Barrot Minister for Europe and Foreign Affairs said: “The recovery and reconstruction of Ukraine will require the mobilisation of both public and private actors investing in Ukraine’s future. This investment the largest in over ten years – is a testimony of our commitment to a strong and lasting economic partnership with Ukraine. I am confident that it will serve as a flagship to highlight the wealth of investment opportunities and pave the way for other projects in the future.”
The merger strengthens the company’s agility by enabling efficient use of both fixed and mobile networks, providing flexibility in areas such as energy savings. The newly formed DVL aims to extend mobile connectivity to 10mn people and deliver fixed internet to fourmn households.
The EBRD has restarted its activities in Ukraine, despite the ongoing hostilities and has been providing critical support to allow the economy to continue to function. Since February 2022, the EBRD has deployed €5bn in Ukraine, focusing on supporting energy security, vital infrastructure, food security, trade and the private sector, alongside key policy reforms. The EBRD’s Board of Governors has approved a capital increase of €4bn to support further investment at this level in wartime making the bank the single largest investor into the country.
“Made in Russia” label growing in popularity bne IntelliNews
The "Made in Russia" label is growing in popularity and has already been awarded to 8,082 domestically produced goods produced by 368 companies that bear the red, white and blue tricolour emblem, reports Vedomosti.
The certified products benefit from state support under the eponymous programme and the Kremlin’s drive to improve both import substitution as well as non-raw material exports.
The initiative is led by the Russian Export Centre (REC), which is part of the sovereign development bank VEB.RF. REC facilitates the entry of Russian products into more than 70 international markets amongst the so-called friendly countries. As a result, the "Made in Russia" label is becoming increasingly recognisable in overseas markets.
The programme’s primary goal is to enhance the recognition of Russian goods globally and drive sales under a national
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"umbrella" brand. It promotes products through international exhibitions, business missions, national stores on major online platforms, and specialised showrooms.
To qualify for certification, manufacturers must ensure their products excel in at least one of five key areas: organic origin, environmental friendliness, energy efficiency, reliability or qual- ity. A parallel programme to certify “green” goods is being devel- oped that focuses on the sustainability of the production of goods.
The application process for “Made in Russia” is straightfor- ward and free via the REC website. Certification is conducted in collaboration with the other state agencies, Roskachestvo (product quality), Rospatent (IP), Rosstandart (national techni- cal standards, weights & measures), Rosaccreditation (certi- fication and stamps) and other accredited bodies, providing guarantees of quality and intellectual property protection for all participants.