On January 13, 2021, Ambassador of Ukraine to Kuwait O. Balanutsа met with General Director of “Al-Watan Sweets Co W.L.L.” Kh. Al-Halwaji. The Parties discussed the possibility of Kuwaiti sweets export to Ukraine and agreed to study the feasibility of establishing joint Kuwaiti-Ukrainian production facilities in Ukraine.

Ambassador O.Balanutsa noted that Kuwaiti investors might have a strong interest in Ukraine because foreign citizens have the right to direct ownership of 100% of real estate in Ukraine and 100% of companies’ shares. Ukraine has a skilled workforce, low production costs and a developed domestic market of raw materials for the production of sweets. Ambassador O.Balanutsa emphasized that the establishment of Kuwaiti sweets manufacturing in Ukraine will open the way to export to Europe, as Ukraine has well-developed logistics with the European Union and signed the Association Agreement, which applies lower customs tariffs on import of Ukrainian goods to the EU states.

As well, foreign investors in Ukraine have the opportunity to benefit from exemption for 5 years from income tax, VAT and custom duties on imported equipment etc., applying provisions of the Law of Ukraine "On State Support of Investment Projects with Significant Investments".