From what I can see, despite the war, Ukrainian industry is still conducting negotiations aimed at attracting foreign investment, with a focus on the production of innovative and much-needed goods. Many such projects are just waiting for the hostilities to end, says Yana Kiparenko, our partner in the Ukrainian market. She gives a specific example…
The Austrian company Kronospan is to invest 200 million euros in OSB board production in the Rivne Oblast. Around 60 per cent of the products manufactured will be exported to the EU and the US. Kronospan is Europe’s largest manufacturer of wood-based panels and one of Ukraine’s largest producers of particleboard (PCB), laminated particleboard, oriented strand board (OSB) and kitchen worktops. Overall, during its 20 years of operation in Ukraine, Kronospan has invested around 1 billion euros. It is worth emphasising that the company continues to operate in Ukraine and is investing in new production facilities even during the war. Interestingly, Kronospan has also initiated the creation of an industrial park. The idea is to establish a furniture cluster around the wood-based panel production plant. The company has already invested 47 million euros in preparatory work and the infrastructure of the industrial park (34 million euros of which were invested during the war).
Despite these difficult times, Ukraine is becoming an increasingly attractive destination for international companies, which are not only opening offices and businesses there, but are also actively recruiting young people. At present, it is foreign investment in Ukraine that is contributing to economic growth, the creation of new jobs and the introduction of innovative technologies.
Many multinational corporations regard investment in Ukraine as an important strategic move that gives them access to a highly skilled workforce and a growing market, Yana reports.
