"Rebuild Ukraine": International business in search of new opportunities in Ukraine

The Warsaw exhibition and conference proved that international business is ready to implement attractive projects in Ukraine for the long term

Warsaw recently hosted the second conference and exhibition in the Rebuild Ukraine series, dedicated to the rebuilding and modernization of Ukraine, particularly in the energy sector.

Participants came to the event from all over the world, demonstrating their interest in participating in Ukraine's reconstruction. Importantly, they perceived it not only in the context of solidarity with Ukraine, which is countering the Russian aggressor, but also as an attractive business project.

UKRAINE IS A HUGE OPPORTUNITY

The exhibition and conference "Rebuild Ukraine Powered by Energy" was attended by 545 companies from more than 30 countries.

Minister of Energy of Ukraine German Galushchenko, who headed the Ukrainian delegation at the event, is pragmatic about the situation, emphasizing that such interest in the exhibition and conference is not because Russian aggression has drawn attention to Ukraine, but because global business sees Ukraine as an attractive investment destination.

"It's not because Ukraine is trending, but because business is looking for opportunities, and Ukraine is a huge opportunity. Ukraine is a self-sufficient country, it can strengthen anyone with partnership and create opportunities for joint development and technology development," Galushchenko said in a commentary to the Ukrainian media.

During the opening of the exhibition and conference, he mentioned Ukraine's success stories in the face of Russian aggression, in particular, effective cooperation with the American company Westinghouse, Ukraine's partner in both the production of nuclear fuel and the construction of advanced reactor technologies; as well as with the Polish side in the context of the commissioning of the modernized Khmelnytsky NPP-Rzeszow line, which exports electricity to the west.

The minister said in a comment to Ukrinform that he expects specifics from this event so that Western investors will respond to the Ukrainian plan, the energy strategy of Ukraine. He added that Kyiv is developing huge plans for the transformation of the energy sector, which will give impetus to the development of energy projects in Ukraine, even during the war.

At the conference, Galushchenko emphasized that European businesses investing in energy should not be afraid to act and take steps to cooperate with Ukraine right now.

"Even if you doubt whether to enter the Ukrainian market during the war, the Ukrainian side will do everything possible to provide you with all the necessary documentation and everything you need to do business. You have to be ready to act the very next day after the war ends, and not delay, wasting time on the post-war period," the Ukrainian minister emphasized during his inaugural speech at the conference.

Foreign partners do not hide their interest in implementing projects in Ukraine. In particular, even before the start of the exhibition, Finnish Minister of Foreign Trade and Development Ville Tavio told Ukrinform in an interview that the event in Warsaw was a great opportunity for more than 40 Finnish companies to hold talks with Ukrainian partners and learn more about ways to participate in the huge efforts to rebuild Ukraine. Tavio, who also personally participated in the exhibition, emphasized that Finnish companies can participate, for example, in energy-efficient and environmentally friendly construction, the energy sector, the transition to renewable energy sources, water and waste management, etc. As you know, a number of Finnish energy companies are already operating in Ukraine, including a project to modernize one of the thermal power plants.

Johan Forssell, Minister of International Cooperation and Foreign Trade of Sweden, emphasized during the opening of the event that Ukraine is an attractive investment destination even during the war. He noted that cooperation in rebuilding Ukraine opens up great opportunities for Swedish private capital, emphasizing that it is a "win-win story" that can be mutually beneficial for both sides. According to him, the Swedish government has developed a strategy for cooperation in the field of reconstruction and reforms in Ukraine for 2023-2027, which provides for the allocation of significant funds for projects to restore Ukraine.

FROM WORDS TO DEEDS

A number of practical results were achieved during the exhibition and conference: agreements and memoranda of cooperation were signed with several well-known global companies, which will be implemented in the future.

In particular, the Ministry of Energy signed a cooperation agreement with the American company Tetra Tech on cooperation in mine action. The American company is expected to provide technical assistance and advisory support to the Ministry of Energy in the implementation of mine action measures. The parties will also cooperate on measures to safely restore Ukraine's critical energy infrastructure by clearing energy facilities, their sites and adjacent territories of explosive objects and their components that pose a threat to human life and health, and ensuring proper safe operation of energy facilities.

The national energy company Ukrenergo has signed a memorandum of cooperation with the Swedish company Ingrid Capacity AB. The agreement is aimed at joint research, development and implementation of energy storage solutions to improve energy security and reliability of the Ukrainian power grid. The key goals of the cooperation include increasing the resilience of the power grid to various challenges and threats, including natural disasters, extreme weather events, and unexpected network failures.

In addition, NPC Ukrenergo has signed a memorandum of understanding with Korean Hyundai E&C. In particular, the parties plan to cooperate in projects to develop power grids and the energy transmission system in Ukraine, as well as explore potential opportunities for cooperation.

EUROPE, AMERICA AND THE FAR EAST

The Rebuild Ukraine exhibition aroused considerable interest and engagement from global companies: more than 20 countries set up their national pavilions. The largest of them were the Scandinavian countries, including Sweden, Finland, and Denmark, each of which had more than 40 companies represented. The national pavilions of the Netherlands, Romania, Canada, France, the Czech Republic, and some other countries were also large.

Marcin Szkudlarek, an exhibitor and representative of the Polish company HAPAM, which produces power line disconnectors, told Ukrinform that the company has been successfully operating in foreign markets for 20 years, and it is also present in Ukraine. He noted that the company realizes that Ukraine will have a significant need for repair and development of power lines. Therefore, the company, which, according to him, employs 15% of Ukrainians, is additionally looking for business partners in Ukraine.

There was no shortage of participants from countries geographically distant from Ukraine. During the exhibition, Su Yu-hsuan, Director of the Taiwanese Trade Mission in Kyiv, commented to Ukrinform that Taiwan's geopolitical situation today is very similar to Ukraine's, and that is why the Taiwanese government and people support Ukraine. According to him, Taiwan is already implementing several humanitarian and financial projects in Ukraine, including the construction of energy facilities and schools. He noted that Ukrainian local government representatives are interested in Taiwan's so-called smart solutions for energy efficiency in cities. That is why many Ukrainian local government officials have already visited the Smart City Expo in Taipei. Su Yu-hsuan emphasized that Taipei is interested in deeper communication with Kyiv and in establishing closer ties between Taiwanese and Ukrainian businesses.

Hyundai E&C's Regional Director for Europe and North Africa, Hong-Hwan Park, said in a commentary to the agency that South Korea has considerable experience in rebuilding the country after the war of the 1950s. Therefore, this experience can be useful in rebuilding Ukraine. The regional director of the company emphasized that the Korean government wants to participate in the restoration of Ukraine and is exploring opportunities to contribute to the technological development of Ukraine. Hong-Hwan Park noted that the Memorandum of Understanding signed by NPC Ukrenergo with Hyundai E&C on the development of power grids and energy transmission system in Ukraine is a very important step for the development and security of the country. Therefore, the experience of the Koreans in this area should greatly help Ukraine.

TERRITORIAL COMMUNITIES OF UKRAINE IN SEARCH OF PARTNERSHIP

The large Ukrainian delegation at the exhibition and conference in Warsaw also included representatives of local self-government. Twenty-six Ukrainian communities were represented at the level of mayors, deputy mayors, or heads of civil-military administrations, and more than 100 communities were represented in specially prepared booklets.

Dmytro Chava, Deputy Mayor of Irpin, said in a comment to the agency that the city's delegation had worked fruitfully at the exhibition. In particular, agreements have been reached to provide the city with power plants and solar panels.

"There are potentially interested donors and investors, for example, in the context of building a clinic for the rehabilitation of those injured in the war," Chava said.

The head of the military-civilian administration of Gulyaypol, Zaporizhzhia region, Serhiy Yarmak told Ukrinform that the biggest expectations from this exhibition are related to the search for international investors who would help rebuild the Gulyaypol community as much as possible. He noted that although the town was liberated from Russian occupation in March last year, the enemy is 4 km away from Gulyaypol, and the town suffers from constant shelling.

"The biggest need is to rebuild the infrastructure, from buildings to electricity, water and gas supply," stated Yarmak.

Thus, the Warsaw exhibition and conference "Rebuild Ukraine Powered by Energy" was another evidence that the war does not deter international business, which is looking for new investment opportunities and is ready to implement attractive projects in Ukraine for the long term.

Yuriy Banakhevych, Warsaw

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