IKEA to open first store in Ukraine next year
(Adds quotes, details, background)
Sept 12 (Reuters) - Swedish retailer IKEA will open its
first store in Ukraine next year because of the country's
improved business climate, a senior executive said on a visit to
Kiev on Wednesday.
President Petro Poroshenko cheered the move as a vote of
confidence in Ukraine, which is battling to shake off an image
of entrenched corruption that has long deterred to foreign
"It's the right moment for IKEA to be here, when we look at
the business climate and the opportunities," Stefan Vanoverbeke,
IKEA chief executive for southeastern Europe, told reporters
when announcing plans to open next year.
He did not specify the size of the investment in Ukraine or
say how many stores would open.
The announcement follows the entry of low-cost carrier
Ryanair into Ukraine in March after initially walking
away from the deal in 2017.
"I think that the investment boom that is taking place today
is a bright sign of confidence in Ukraine by global investors,"
Ukraine's president said.
(Reporting by Matthias Williams and Natalia Zinets
Editing by Edmund Blair)
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