VEON Investment to Accelerate the Digitalisation of Uzbekistan

Rhea-AI Summary

VEON Ltd. (NASDAQ: VEON) announces its collaboration with the Uzbekistan Government to provide digitalisation services during the country’s World Trade Organization (WTO) accession. CEO Kaan Terzioglu emphasized VEON's commitment to Uzbekistan's digital future. The company will invest $250 million over the next five years to support the Digital Uzbekistan-2030 program. This investment aims to bolster the nation’s technological infrastructure, enhancing its global competitiveness and facilitating its WTO application.

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• VEON to invest $250 million in Uzbekistan over the next five years.
• Collaboration aims to implement the Digital Uzbekistan-2030 program.

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AMSTERDAM, May 10, 2022 VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), a global digital operator that provides mobile connectivity and services, announces today that it is to advise and provide digitalisation services to the Uzbekistan Government during the country's accession to the World Trade Organization (WTO).

In a meeting with Laziz Kudratov, the First Deputy Minister of Investments and Foreign Trade of the Republic of Uzbekistan, VEON CEO, Kaan Terzioglu reiterated VEON's commitment to assisting the digitalisation of Uzbekistan.  VEON Group, which operates in 9 countries and provides services to nearly 220 subscribers, has been serving Uzbekistan through its operating company Beeline since 2006. Beeline, Uzbekistan's leading Digital Operator, will actively participate in the implementation of the Digital Uzbekistan-2030 programme and, over the next five years intends to increase the volume of investments in the country's economy by $250 million.

The success of Uzbekistan's WTO application will be influenced by the digitalisation of the economy of Uzbekistan, which is striving to become one of the technological leaders in Central Asia.

"For the world community, what is important is not only the general state of the country's economy, but how the level of technology development in Uzbekistan has increased," said Kaan Terzioglu, CEO, VEON. "By investing in the infrastructure of VEON's mobile operator, Beeline Uzbekistan, we are striving to make digital services available to residents and businesses throughout the country, which will no doubt be an additional advantage for Uzbekistan's WTO application."

About VEON  
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and digital services serving nine countries, which together are home to 9% of the world's population. Our companies are transforming lifestyles through technology-driven services that empower opportunity in some of the world's fastest-growing emerging markets.  

For more information, visit: https://www.veon.com  

Disclaimer 

This release contains "forward-looking statements", as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON's assistance in the digitalization of Uzbekistan. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.

Contact Information

VEON Group
Group Communications Director
Marina Levina
Marina.levina@veon.com

TUVA Partners
Julian Tanner
julian.tanner@tuvapartners.com
M +44 7900 205 460

 

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SOURCE VEON Ltd

FAQ

What is VEON's recent investment in Uzbekistan about?

VEON plans to invest $250 million in Uzbekistan to assist with the country's digitalisation during its WTO accession.

What is the purpose of VEON's collaboration with the Uzbekistan Government?

The collaboration aims to enhance Uzbekistan's technological infrastructure as part of its Digital Uzbekistan-2030 program.

How will VEON's investment impact Uzbekistan's WTO application?

VEON's investment in digital services is expected to strengthen Uzbekistan's economy and support its application for WTO membership.

Who is leading VEON's efforts in Uzbekistan?

VEON's CEO, Kaan Terzioglu, is leading the initiative to support Uzbekistan's digitalisation efforts.