When John Denton first visited Ukraine weeks into Russia’s full-scale invasion in 2022, he knew that for the country to survive, businesses needed to stay alive. Denton is the secretary general of the International Chamber of Commerce, the world’s largest business organization. Active in 170 countries, the organization
In a luxurious resort complex north of Kyiv, 12 women are retraining to enter the hospitality sector in a new school that will kickstart a fresh life for Ukraine’s internally displaced people (IDPs). The women, mostly from Ukraine's occupied territories, are learning to be housekeepers in the first program
Preliminary criteria say that foreign firms willing to return to Russia will not be allowed to do so if they have a "hostile position," finance Ukraine's Armed Forces, or are classified as "undesirable organizations" or "foreign agents."
Ukraine's newly formed telecommunications company DVL Group is planning to cut 15% of its IT department due to business consolidation and optimization, the company told Economichna Pravda.
The following is the Jan. 29, 2025 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Ukraine's largest private energy company, DTEK, announced plans on Jan. 22 to invest 450 million euros ($468 million)
The discussions at the World Economic Forum in Davos were a stark reminder of how interconnected the global economy is, and how Ukraine’s stability — or lack thereof — affects us all. From military aid to economic sanctions, the steps we take now will shape the future not just for Ukraine,
“We’re at yet another turning point,” Ukrainian President Volodymyr Zelensky told global leaders in Davos last week, “which some see as a problem for Europe, but others call a chance. Europe must establish itself as a strong global player, as an indispensable player.” Zelensky is completely right. He is
Over the last week, Ukraine House Davos opened its doors to world leaders and investors for the sixth year in a row during the World Economic Forum in Switzerland. Ukraine House this year was adorned with the slogan “Your Country First, Win With Us.” The message set the tone for
When Chicagoan Chris Exline decided to expand his furniture rental company to Ukraine, he did not expect to relocate his life to a small town of 20,000 people in Ternopil Oblast. The businessman and CEO of Home Essentials initially planned to rent furniture to expats and organizations flooding in
The memorandum of understanding will establish over 100 industrial parks across Ukraine, impacting the lives of 2.5 million citizens, and helping create “hyper-modern” cities.
The International Chamber of Commerce (ICC), will lower the costs of its arbitration court for foreign investors involved in Ukraine's reconstruction projects to encourage much-needed investment.
Ukraine is still far from an investor's paradise, but increasingly valuable business deals are being signed in the war-torn country this year. In the first nine months of 2024, there were 36 Ukrainian mergers and acquisitions (M&As) with a total estimated value of $643 million, according to a new
The European Bank for Reconstruction and Development and the International Finance Corporation on Oct. 10 said they would provide $435 million to finance a recently merged Ukrainian telecoms company. The funding is part of a deal — led by French billionaire Xavier Niel — that represents the largest foreign direct investment in
The European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) provided $435 million long-term debt for Datagroup-Volia-Lifecell, a recently merged Ukrainian telecom company, to improve telecoms service quality, the EBRD said on Oct. 10.
Ukraine has become a hotbed of defense innovation, as Russia’s deadly invasion fuels a rapid development of new battlefield technologies. Kyiv now aims to become a global leader in the defense sector, but with its economy drained by the war, it needs foreign investment to accomplish its goal. Ukraine
The U.S.-based AeroVironment signed an agreement with a Ukrainian company to localize its production of Switchblade 600 loitering munitions, marking the latest of several recent agreements between Ukrainian and foreign companies to produce weaponry in Ukraine.
Ukraine is at a crucial turning point. As we focus on reconstruction amid ongoing Russian aggression, one aspect is pivotal to our success: war risk insurance. This tool is indispensable for attracting foreign investment and ensuring the resilience of local businesses. War risk insurance is designed to protect businesses against
The Kyiv Independent’s Natalia Yermak interviews Ukrainian-Canadian lawyer and business advisor, Daniel Bilak, about the potential for investment in Ukraine and its defense sector.
French billionaire Xavier Niel’s investment company NJJ Capital has closed the deal on acquiring Lifecell, one of Ukraine's largest mobile operators, and Datagroup-Volia, one of Ukraine's largest fixed telecom and pay-TV providers.
Ukraine’s low-budget tech wizardry has stunned Western audiences since the war’s outset. Soldiers operating out of front-line garages have modified donated artillery, rehabbed captured weapons, amped up off-the-shelf drones, and coded software to streamline it all. Given all the attention, a number of enterprising Ukrainians have turned their
The controversial decision to dismiss the head of Ukraine’s state-owned energy grid operator has prompted resignations from two independent members of the company’s supervisory board and raised concerns from partners abroad. Volodymyr Kudrytskyi, who served as head of Ukrenergo since 2020, was dismissed on Sept. 2 on the
The total value of the acquisition, including the purchase price and investment, is expected to be over $1 billion, a source involved in the deal told the Kyiv Independent. The final value of the deal will be announced at the close.
Despite its economy steadily improving from the first months of the full-scale invasion, very little foreign capital is currently trickling down to Ukraine’s private and public sectors. Money from international financial institutions has helped stabilize the economy, bolstering forecasts of 3.2% gross domestic product (GDP) growth this year,
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