Foreign investments in Ukraine increased to $4.2 billion: where is the money going.

According to ТСН: This was reported by the CEO of the investment group "Molodist" Anton Myronchuk.

Investors in Ukraine see strategic potential

The expert noted that at the beginning of the full-scale invasion, analysts predicted a significant decline in investment activity. However, statistical data indicates the opposite: the investment landscape not only held up but also adapted.

During the war in Ukraine, hundreds of new enterprises with foreign capital were registered – these are not just charitable funds or grants, but investments that can yield profit. They provide financial resources, technology, and expertise necessary for long-term recovery.

• In 2023, the volume of foreign direct investment increased to $4.2 billion.

• In 2024, it decreased to $3.33–3.98 billion.

• In the first quarter of 2025, the NBU recorded a net inflow of $178 million.

At the same time, over 70% of these investments consist of reinvested profits of international companies, rather than new "green" projects.

"Investors in Ukraine see strategic potential. Yes, today reinvestment prevails, but the very fact that businesses continue to invest in their Ukrainian subsidiaries indicates a high level of trust. This is the foundation for a future investment leap after victory."

Western Ukraine and Kyiv region — new points of economic growth

One of the key trends has been the geographical shift of investments. Safer regions in western Ukraine are gradually becoming industrial and logistical hubs.

According to Anton Myronchuk, regions capable of integrating into European supply chains are becoming the most attractive for private capital. Kyiv and the Kyiv region maintain their status as centers of international business, but now investments here are largely oriented towards regional opportunities, not just the capital market.

"On Ukraine's investment map, a new logic is forming: businesses are looking for not just big cities, but regions with potential for growth during reconstruction. This potential is most evident today in the west of the country and in the Kyiv region."

Where is the money going: priority sectors

Foreign investors are currently investing in sectors that are crucial for economic recovery:

• Infrastructure and energy: EBRD plans to invest at least €1.5 billion in 2025.

• The mining industry: new agreements with the USA open up opportunities for investments in critical minerals.

• Industry: western regions are becoming sites for new manufacturing enterprises.

• Finance, real estate, and IT: traditional sectors continue to attract interest.

However, according to Anton Myronchuk, there are also challenges:

• the lack of greenfield projects;

• regulatory barriers;

• currency risks;

• the threat of shelling even in "relatively safe" regions.

What’s next: investment window of opportunity after the war

KSE forecasts that by 2027–2028, the volume of foreign direct investment could reach $10 billion annually. Analysts expect the emergence of a new "industrial belt" in the Kyiv region, as well as the development of logistics, energy, and the critical minerals sector.

"Foreign investments now are not a temporary support, but a strategic bet on Ukraine's future. For this bet to work, continuous reforms, investor protection, and transparent rules of the game are needed. Ukraine has a chance to become a new center of economic growth in Europe — and this process has already begun."

Overall, the situation with investments in Ukraine looks optimistic, especially considering the rapid growth of reinvestments. Although challenges remain, the understanding of the strategic potential of the country is increasingly strengthening among international investors. This could form the basis for a new economic environment after hostilities end.