“Investment Leaders”: big business boasted of projects worth hundreds of millions of dollars
1 May 14:07
The European Business Association has announced the first twenty businesses included in the Investment Leaders list. They were announced on the EBA website, "Komersant Ukrainian" reports.
It explains that Investment Leaders is an open list of EBA member companies that are implementing significant investment projects worth $10 million or more during a full-scale invasion.
In total, since 2022, EBA member companies have announced investments in large projects worth more than $3 billion. Of these, $287 million of investments are already completed projects, $2.57 billion are in the process of implementation, and $172 million are planned.
According to Anna Derevyanko, Executive Director of the European Business Association, 70% of EBA member companies, according to an EBA survey, remain ready to invest in Ukraine despite the war, and 16% are planning new large-scale investment projects in 2025. Thus, according to Anna Derevyanko, business not only supports the economy but also demonstrates an example of a responsible and strategic approach to other market participants and potential investors.
Who are the “Investment Leaders”?
The list includes the following projects and companies:
Kyivstar – Investments in the development and restoration of Ukraine’s digital infrastructure 2023-2027 – USD 1 billion,
DTEK – Tiligul wind farm – EUR 650 million,
ArcelorMittal Kryvyi Rih – Mining, metallurgical and infrastructure investments, part of the company’s measures to maintain competitiveness and improve labor safety during the war – $325 million,
Knauf Gypsum Kyiv – A plant for the production of building materials – 150 million euros,
City Van Development – Float glass plant – $140 million,
Elementum Energy – Dniester Wind Farm (Stage 2) – $110.5 million,
NEQSOL HOLDING – Privatization of the United Mining and Chemical Company – $96 million.
The full list of the first twenty companies and projects included in the Investment Leaders list can be found here.
The EBA reminded that this list will be regularly updated and supplemented with new investor companies. You can apply through the form at the link.
How do they invest in Ukraine in general?
According to the NBU, the inflow of foreign direct investment in Ukraine in 2024 amounted to USD 3,329 million. Compared to 2023, this investment decreased by a quarter – minus USD 1.16 billion.
MP Danylo Hetmantsev explained that the lion’s share – 71.6% – of the inflow of private foreign investment is reinvestment of income earned by a foreign investor in Ukraine. Compared to the year before, the amount of reinvested income decreased by 30%, and this decrease is likely due to the easing of currency restrictions on cross-border transfers by the NBU, including the withdrawal of dividends, which came into effect in the second half of last year.
At the same time, the European Union considers Ukraine to be the most promising destination for European investments. According to European Commissioner for Enlargement Martha Kos, the process of Ukraine’s recovery involves turning the country into a dynamic European industrial hub in promising areas, including digital transition, green transformation, and defense.
The government is trying to encourage investors
In April 2025, the Cabinet of Ministers of Ukraine adopted a decision that changes the rules for investors planning to implement large projects in the country. The Ukrainian government has allowed investors to start investing in their projects earlier – without waiting for the standard 18-month period before applying for state support.
True, such investments will not count towards the total amount of “significant investments” as defined by law, but this change opens up more opportunities for those who are ready to start working now, without postponing plans for later.
The government also supports large investment projects under the Made in Ukraine policy: if a business invests at least €12 million, it can receive up to 30% of its capital investment costs.
Projects can last up to 5 years, and priority areas include manufacturing, logistics, mining, healthcare, education, culture, tourism, sports, IT, and other industries.
