Ukrainian President Invites Investors to Share in Euro 2012 Legacy

KIEV, Ukraine, May 28, 2010 /PRNewswire/ -- A major event to capitalise on Ukraine's status as host of football championship Euro 2012 will take place in Kiev on Monday (31 May). President Viktor Yanukovych will meet with representatives of the global hotel industry at a specially arranged international conference to outline the investment incentives aimed at expanding the country's hospitality sector and stimulating economic growth in a potentially huge market for tourism.

Vice Prime Minister Borys Kolesnikov, head of National Agency 2012, charged with delivering the tournament in Ukraine, said: "Ukraine's economic growth and stability is back on track and Euro 2012 provides us with a perfect opportunity to show the world how much we have to offer, from our rich cultural heritage, to the natural beauty of the country itself.

"That President Yanukovych is personally leading our commitment to deliver a world-class Euro 2012, and a lasting legacy beyond that, clearly demonstrates the importance Ukraine places on delivering a secure environment for investors. Together we look forward to making Ukraine a better place for business; and that starts here through developing strong, viable relationships with the world's leading hotel providers."

Ukraine, the second-largest country in Eastern Europe, already welcomes over 20 million tourists each year and is expecting a major influx of new visitors for Euro 2012. The government's attractive package sets out hotel investment incentives including tax efficiencies, streamlined construction permit procedures, and gaming licences.

The opportunity is significant. With some 500,000 visitors expected for Euro 2012, the country's requirement for almost an additional 200,000 rooms needs to be met. Euro 2012 - Long-term Investment Opportunities for Ukraine's Hotel and Leisure Sector aims to attract hotel operators to join international chains already established in Ukraine, a strategic market for both the EU and CIS, as well as the Middle East.

The international conference will feature presentations on Ukraine's infrastructure, tourist trade, sports facilities, tourism legacy, business and economic environment with representatives from all relevant government ministries, Euro 2012 host city mayors, Vice Prime Minister Kolesnikov and President Yanukovych.

It is part of a comprehensive modernisation and economic reform programme, energetically driven by the new government, with a determination to improve Ukraine's investment climate and make the country more open to business. In the near future the first tranche of this new legislation will go before parliament to bring the reforms into law.

Michael Cooper, Vice President at InterContinental Hotel Group, added: "The combination of Euro 2012 and the Ukraine's untapped tourist market makes the country increasingly attractive for the international hotel sector. We already have one hotel in Kiev and two more planned which will give guests a choice of quality branded hotels to stay in when they visit Ukraine."

Euro 2012 - Long-term Investment Opportunities for Ukraine's Hotel and Leisure Sector will take place at the InterContinental Hotel, Kiev.

    Notes to Editors

    1) Euro 2012 will take place between 8 June and 1 July 2012.

    2) The four Ukrainian host cities are Kiev, Donetsk, Lviv and Kharkiv.

    3) The event Euro 2012 - Long-term Investment Opportunities for
       Ukraine's Hotel will take place on Monday 31 May at the
       InterContinental Kiev.

SOURCE National Agency 2012