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Tomas Fiala, CEO and founder of Dragon Capital, at the company's office in Kyiv, Ukraine on June 15, 2026.
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What 30 years in Ukraine taught one of its biggest investors

by Liliane Bivings

As the Ukrainian business community prepares for its biggest annual event — the Ukraine Recovery Conference, this year taking place in Gdansk — foreign investment in the country is once again set to be a central topic. Russia’s full-scale invasion has brought unprecedented attention to Ukraine, not only because of the war, but also as the West, particularly Europe, has come to better understand the country and the role it can play in its economy. That attention, however, has not translated int

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Ukraine is becoming a foundational pillar for Europe's new security architecture

For decades, the central question of Ukraine's relationship with Europe was whether Ukraine would ever become part of the European Union. Today, the debate has fundamentally changed, and the question is no longer whether Ukraine belongs to Europe, but rather if Europe can credibly defend itself in today's volatile security environment without Ukraine. The answer is clear: it cannot. Ukraine is steadily becoming one of the key security providers on the European continent. This had stemmed not s

Ukraine's energy system is not in survival mode — we are building Europe's energy future

For international investors gathered at the Ukraine Recovery Conference in Poland this week, the rebuilding of strategic sectors like energy has become a significant emerging opportunity — yet one they risk missing out on. Across an energy system that Russia has repeatedly tried to occupy or destroy since 2022, companies like DTEK are not waiting for peace before building again. Continuous attacks compel us to restore existing infrastructure while simultaneously accelerating the construction of

Wind turbines are seen at the Orivska Wind Farm near Oriv, Lviv Oblast, Ukraine, on May 25, 2026.

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The Kyiv Independent’s Business Desk covers the biggest news in business, economics, and tech from Ukraine, as well as global developments that shape the economy of the region.

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On June 2, Russia carried out its largest ballistic and hypersonic missile attack of the year. On June 15, it nearly surpassed that record. The attacks point to a disturbing change in tactics: The Kremlin may be refining a new model of strikes on Ukrainian cities, relying on concentrated salvos of ballistic and hypersonic missiles to inflict maximum damage as Ukraine faces a growing shortage of Patriot interceptors. The two mass strikes in June followed a similar pattern. Russia launched more

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