Cooperation with Ukraine opens new opportunities for the European business community, says Prime Minister
Ukraine is becoming a new hub for profitable investments for European businesses. This was emphasised by Prime Minister Denys Shmyhal during the EU-Ukraine Business Summit held in Brussels on 10 April.
“Ukraine today is not only a battlefield but also a field of opportunities. We can become a net contributor and exporter of security, energy, critical resources, and digital breakthroughs,” stressed the Head of Ukrainian Government.
According to Denys Shmyhal, thanks to cooperation with the EU, Ukraine has the potential to become one of the centres of continental energy security. The country boasts significant potential in renewable energy, hydrogen, and biomethane, alongside full synchronisation of its energy grid with Europe’s.
“Our underground gas storage facilities, the largest in Europe, could increase total European gas storage capacity by 25%. Our gas reserves are the second largest on the continent. All this creates unique potential for strategic investors,” the Prime Minister highlighted.
Critical raw materials represent another promising sector for European business investment, as the EU currently imports a significant share of these materials. Denys Shmyhal underscored that Ukraine could help transform this situation by providing European businesses with a reliable source of raw materials on their own continent, laying the foundation for a new industrial revolution – Made in Europe.
The Prime Minister also expressed confidence that Ukraine’s reconstruction could be the largest economic project in Europe in generations.
“We’re talking about building new housing for millions of people, modernising transport corridors, ports, and railways to European standards, and restoring energy infrastructure,” noted the Head of Government.
Separately, Denys Shmyhal highlighted the development of Ukraine’s defence-industrial complex.
“Europe needs rearmament and defence autonomy. Ukraine can become its industrial heart. We invite European defence companies to collaborate: we have highly skilled personnel, production facilities, and state incentives for investors,” he stressed.
The agricultural sector is another key focus, according to the Prime Minister. Investments in this industry not only unlock broad business opportunities but also contribute to global food security. He noted that Ukraine currently provides food for 400 million people worldwide.
In the medium term, the country plans to double its agricultural exports, offering significant support to the private sector for investment in this field.
The Prime Minister also praised achievements in the IT industry. Last year, IT service exports reached nearly USD 7 billion, with the sector employing over 300,000 top-tier specialists. He emphasised that Ukraine leads in digitalisation thanks to the Diia system, which provides dozens of public services via smartphone.
“In the digital sphere, Ukraine and the EU together can make a leap forward, without which global competitiveness cannot be won. This bridge between our technological ecosystems should only be widened,” the Head of Government remarked.
Additionally, the Prime Minister stressed that Ukraine was implementing European rules and legislation across all sectors.
He urged European businesses to invest in Ukraine, a country steadily advancing towards European Union membership.
Following the EU-Ukraine Business Summit, a joint statement was adopted on strengthening business partnerships between Ukraine and the European Union.
Joint Statement on Strengthening the EU-Ukraine Business Partnership ( .docx , 26.49 Кб )