The Head of the Asset Recovery and Management Agency, Olena Duma, and the President of the Ukrainian National Committee of the International Chamber of Commerce (ICC Ukraine), Volodymyr Shchelkuniov, signed a Memorandum of cooperation between the two institutions.

The document is aimed at initiating systemic cooperation in engaging foreign businesses in the management of seized assets under ARMA’s administration. This includes assets located both in Ukraine and abroad, where, within the framework of criminal proceedings and upon requests from law enforcement agencies, the Agency has identified and traced assets worth over USD 100 billion.

“We have built a transparent and competitive system for asset management and are open to international partnerships. Businesses should be informed about the specifics of managing seized assets and have access to information on investment-attractive assets transferred for management. I am confident that ICC Ukraine will become a reliable partner in this process,” stated Olena Duma, Head of ARMA.

The President of ICC Ukraine Volodymyr Shchelkunov, in turn, emphasized: “It’s important for ICC Ukraine to serve as a bridge between the Ukrainian institutions and international businesses. We are confident that collaboration with ARMA will strengthen economic resilience of the state and accelerate the investment attraction process”.

Memorandum of cooperation between ARMA and ICC Ukraine reaffirms the commitment to establishing the strategic partnership in the interests of Ukraine and the strengthening its economic resilience. 

It worth recalling that the ARMA previously held a working meeting with the representatives of ARMA and ICC Ukraine during which the prospects for involving international businesses in the management of seized assets including the mechanisms to raise awareness of the relevant opportunities.