Representatives of Finnish businesses visited Ukraine

Last week, representatives of Finnish companies KONE, Modirum Group, and Nitro Games visited Kyiv, Ukraine on a three-day trip. The business trip was organized by the Ukrainian office of the leading Nordic consultancy Miltton, which recently opened operations in Kyiv to contribute to the rebuilding of the country and in the country’s societal development.

The purpose of the trip was to meet with government officials and Ukrainian businesses and to participate in the Kyiv International Economic Forum. The delegation’s visit comprised a series of high-level meetings with key Ukrainian government officials and business leaders: Rostyslav Shurma, Deputy Head of the Office of the President of Ukraine, Volodymyr Kuzyo, Deputy Minister of Economy, Oleksandr Bornyakov, Deputy Minister of Digital Transformation, and Sergiy Tsivkach, CEO of UkraineInvest, Ukraine’s Investment Promotion Office.

During the meetings, participants had the chance to openly discuss pressing issues, risks, and opportunities with government representatives and received forthright responses, particularly regarding a wide variety of support mechanisms provided by the government to encourage investments.

The participants also attended the annual Kyiv International Economic Forum, which despite the challenges the full-scale war poses, continues to gather representatives of business, government, and society to discuss key economic issues. Distinguished figures including Prime Minister of Ukraine, Denys Shmyhal, Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy, and Mykhailo Fedorov, Deputy Prime Minister for Innovation, Education, Science, and Technology Development – Minister of Digital Transformation of Ukraine, shared their insights and perspectives.

The main message of the conference was about the importance and resilience of Ukrainian businesses, as well as the need for Western companies to start planning investment projects in Ukraine now. In particular, Ukrainian Prime Minister Denys Shmyhal emphasized six sectors that will be the foundation of the future economy: defence industry, agriculture, energy, IT, construction, and machinery manufacturing.

As part of the forum, Christer Haglund, Chairman of Miltton Ukraine, participated in a panel discussion on international cooperation for Ukraine’s reconstruction. Haglund discussed the interest of Nordic countries in Ukraine’s reconstruction, potential forms of cooperation that may arise, and important conditions for European companies.

“We’ve conducted research among our clients, and most of them expressed their interest in investing in Ukraine. One very important thing is to give a realistic view of Ukraine’s situation. Currently, we see media reports about the battles on the frontline, missile and drone attacks. However, as we know, in Ukraine, different areas are affected in different ways. This should be taken into consideration when making risk assessments,” said Christer Haglund.

Representatives of Finnish businesses also visited Ukraine’s first innovation hub, UNIT.city. This is a place for startups, corporations, international companies, and initiatives to collaborate, with over 100 residents. Advanced urban infrastructure technologies are being tested and implemented within UNIT.city, particularly in areas such as transportation and micromobility, unmanned logistics, energy efficiency, automated security, telecommunications, landscaping, and more. Even during the full-scale invasion, residential buildings are also still being constructed in this area.

An important part was a visit to Bucha, in the outskirts of Kyiv, where in March 2022, Russian forces carried out a mass killing of civilians. The city has become a vivid example of resilience and steadfastness. The delegation had the opportunity to witness firsthand the horrific destruction of civilian infrastructure and the traces of Russian terror in the city. Bucha is a remarkable example of the process of rebuilding life in a city despite the war and shelling of infrastructure objects. With the support of Western partners and the local leadership, private houses, roads, and infrastructure projects are being restored in Bucha.

This trip to foster deeper ties between Finnish businesses and Ukraine proved to be a success. The commitment of the participants, their invaluable exchanges with Ukrainian officials and businesses, and a deeper understanding of the situation in Ukraine from the first hands set a promising foundation for future collaborations.

Miltton plans to continue building bridges between the Nordics and Ukraine, strengthen cooperation at the business-state, business-business levels, and contribute to the reconstruction of Ukraine, which has already begun.