OPINION: War-Torn Ukraine Needs International Investment

This year’s Ukraine Recovery Conference in Italy clearly demonstrated that the international community is paying close attention to Ukraine. The fourth edition of the annual event, held in Rome on July 10-11, 2025, was the largest to date. Some 6,000 participants attended, including over a dozen heads of state and more than fifty official national delegations. Panels discussed topics ranging from defense technologies to green energy initiatives.

While the conference featured much optimism, strong messaging and ambitious plans, one important deduction was that rebuilding Ukraine will require more than political support and good intentions. It will demand concrete action, especially from the private sector. Unfortunately, while interest has been plentiful, real investment on the ground in war-torn Ukraine is scant.

A key task for today’s Ukraine is to turn attention into action. Dozens of entrepreneurs expressed curiosity, but few have decided to enter the market. As the hopes for a quick peace agreement continue to grow dim, it is crucial to replace this uncertainty with some long-term strategies.

In spite of the ongoing war with Russia, it is both sane and possible to invest in Ukraine. Several sectors of the Ukrainian economy are performing strongly and developing quickly. They include defense technology, construction materials, logistics infrastructure and agriculture/food processing.

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Lukashenko Rejects Direct Belarusian Involvement in War in Ukraine

Belarusian leader Alexander Lukashenko declared during a speech in Grodno on June 6 that Belarusian troops will not take part in direct combat operations in Ukraine. Lukashenko strongly rejected sending his citizens to the front lines, stating that Belarusians have no desire to become “cannon fodder” for someone else’s will. Despite this stance, he emphasized that Minsk remains a steadfast military ally to Russia and stands ready to defend it.

Although extensive investment is limited, many large international corporations have invested notable amounts since 2022. Numerous others maintain profitable operations in the country. The international business community must be convinced not to wait for the proper time to invest – acting today will result in benefits tomorrow.

A key reason to invest in wartime Ukraine is the prospect of getting early entry to a major future European market. European governments and companies were noticeable at the recovery conference, demonstrating the fact that Ukraine’s European Union path is very open and serves as a relevant tactical mainstay.

This means that investing today in Ukraine guarantees a potentially affluent position during what promises to be the next big growth phase of the European single market. Companies that take advantage of this opportunity will be in a position to create future standards, infrastructure and networks.

The private sector must play a critical role in Ukraine’s recovery. Kyiv cannot depend only on humanitarian aid or financial assistance from their Western allies. Allowing businesses to operate successfully in Ukraine is a very effective way to energize the country’s resurgence and secure sustained growth.

In light of this, governments looking to support Ukraine should empower their own companies to enter the Ukrainian market. This route produces a win-win outcome: Ukraine profits from jobs, taxes and resilience, while investors gain early entrance into a high-potential future EU market.

Businesses interested in Ukraine need help managing potential risk. Investors are skeptical about the different public guarantees and insurance plans currently offered. Ukraine should establish a unified and well-communicated de-risking structure involving international financial institutions and national governments.

One less explored physical hurdle to investment is mobility. Many international executives cannot personally visit Ukraine because of travel restrictions imposed by their home countries or headquarters. While security is of great importance, some existing policies may be extreme. Answering the practical issue of travel restrictions could open up vital operational capacity for global companies.

Access to well-founded and current information is also important. Many possible investors look at Ukraine solely as war and risk, unaware of the country’s rapidly growing business climate. More awareness of recent transparency inroads, regulatory reforms and successful investment accounts in wartime Ukraine would boost confidence and generate more interest.

Since 2022, public funding and international solidarity have helped Ukraine survive some of the darkest times in modern European history. Taking the next huge step forward in the nation’s recovery is dependent on entrepreneurial leadership.

For this to happen, Ukraine must insure a transparent and fair competition for businesses. Any company thinking of entering the Ukrainian market must be confident that their investments will be safe and their rights protected. For now, international corporations should commit to opening new operations, generating value and taking risks.

Such efforts will be fruitless without trustworthy security guarantees. Investing in Ukraine will ultimately depend on setting up an enforceable structure for a secure future that will protect the country from additional Russian aggression. This will remain the number-one priority for Ukraine’s partners and the international community.

Simultaneously, support for Ukraine must go beyond the frontlines. The 2025 Ukraine Recovery Conference revealed that the country has the political support, civic leadership and business potential to emerge more powerful than ever. Although this potential is very encouraging, it is not enough. Now is the time for action and investment.

The views expressed in this opinion article are the author’s and not necessarily those of Kyiv Post.