The experience of the Public Investment Fund of Saudi Arabia will be useful for Ukraine – Rustem Umerov, Chairman of the State Property Fund of Ukraine

During the meeting of Rustem Umerov, the Chairman of the State Property Fund of Ukraine, the Commissioner of the Advisory Council on Ukraine's interaction with Arab and Muslim countries with His Highness Crown Prince Mohammed bin Salman, the issue of assistance from Saudi Arabia in the process of restoration and development of Ukraine was discussed.

"The first step is consultations on the establishment of the Sovereign Fund in Ukraine. We must use the best and most effective practices of leading countries to accelerate economic development and recovery of Ukraine. Now the SPFU is preparing for the establishment of a Ukrainian sovereign fund. The experience of Saudi Arabia will be useful for Ukraine, because their specialists and experts are leading on the world stage," Rustem Umerov emphasizes.

Saudi Arabia is the world's first oil exporter and controls the world's second largest oil reserves, namely 25% of the planet's confirmed oil resources. The Kingdom belongs to the developed countries with high incomes and human development index and is the only Arab country with membership in the Big Twenty countries of the world.

His Highness the Crown Prince of Saudi Arabia, Mohammed bin Salman, is the Deputy Prime Minister of the Kingdom. He also holds the post of Minister of Defense. Mohammed bin Salman is Chairman of the Economic affairs and Development Council and Chairman of the Political and Security Council. In addition, His Highness is Chairman of the Public Investment Fund of the Kingdom of Saudi Arabia.

Sovereign Fund, or Saudi Arabia's state Public Investment Fund, is one of the largest sovereign funds in the world. In total, its assets amount to $ 620 billion. It is the Kingdom's main investment tool, playing an important role in financing vital projects in the energy and agricultural industries.