Arab News | 1 January 2011

By MOHD AL-HARBI

RIYADH: Ukraine Foreign Minister Konstantin Grishchenko held talks here recently with Saudi businessman Suleiman Al-Rajhi, founder of Al-Rajhi International Co., to explore prospects of expanding economic and investment cooperation.

Grishchenko spoke about his government's efforts to attract foreign investment by softening regulations, adding that it helps foreigners to own land in Ukraine known for its fertile lands.

"The government has also reduced taxes on foreign investment. It also provides infrastructure and logistical support to investors," the minister told Al-Rajhi.

"My visit to the Kingdom was aimed at strengthening cooperation between the two countries and promote economic, commercial and cultural relations," Grishchenko said.

Speaking about growing bilateral ties, Grishchenko said 2011 witnessed the visit of four official delegations to Ukraine. "A number of Ukraine officials, including its minister of agriculture, have also visited the Kingdom during the past year."

Grishchenko is happy over the increasing number of Saudi investors in his country. "The Ukraine government is ready to provide all facilities to Saudi investors," he added.

The minister said Al-Rajhi International is the largest investor in Ukraine's agricultural sector.

Grishchenko was all praise for Al-Rajhi and described him as a noble and generous person. "He is a good example for a successful businessman. He never runs after his personal and vested interests and works for the good of his people." Grishchenko also commended Al-Rajhi's humanitarian services.