Vadym Iermolaiev: In which fields it will be interesting to develop business in Ukraine after war?
  3 April 2023

The cult novel by Struhatski brothers is called “Monday Begins on Saturday”. This is a very profound idea. Any forecast shall be based on today’s situation.

It is easier to think of the business’s future while studying the plan of the Cabinet of Ministers of Ukraine for 2023. The government accepted the corresponding document in March. I read it attentively and saw the following trends.


The negotiations on the full-fledged membership of Ukraine in the EU shall start this December. The Verkhovna Rada, the ministries, and the authorities will put in great effort to harmonize the Ukrainian and European legislation before that. They will change all rules radically: from space programs to berries growing.

The National bank in cooperation with the Ministry of Justice shall make an in-depth study concerning the opportunities for joining the Single Euro Payments Area (SEPA) by Ukraine until December. It is also expected that the Decision of the Committee of Ukraine – EU Association in trade structure on the introduction of the amendments to the Association Agreement for the purpose of creating the regime of the EU domestic market in the field of financial services and roaming will be approved in the same month.

Moreover, this refers to affording access to the market of the public contracts for the purchase of EU and Ukrainian goods, as well as to the government tender purchases and the tenders of local authorities for Ukrainian companies.

What does it mean for entrepreneurs? Give more attention to the study of new opportunities in the EU market in your field. Perform marketing research, study the laws, and open representative offices. The market leaders (monobank, Nova Poshta etc.) run already in this direction. Keep pace!

The special undivided attention to the west shall be given:

Recovery of Ukraine

“Recovery starts today already. We do not wait for war completion. There will be 4 main directions in recovery this year: power economy, residential buildings, mine clearing, and critical infrastructure. We plan to activate the format of the “Financial Rammstein” for the determination of sources of the rehabilitation projects funding. “According to preliminary estimates, we need 17 billion dollars for this year alone to that end”, the prime-minister Denys Shmyhal said at the government session.

It means that the builders have a lot of work to do. They will recover the real estate destructed by war and erect new houses. And not only it. The Ministry of Infrastructure has to go on the implementation of the project “The special credit program for Ukraine recovery” which started in 2022. It is expected that 1703.4 million UAH will be allocated across the municipal treasuries for social infrastructure recovery. Moreover, the work upon joining the Council of Europe Development Bank and the Third Protocol to the General Agreement on Privileges and Immunities of the Council of Europe by Ukraine is in progress. This will open access to drawing upon preferential loans for social projects including the construction of social real estate and post-war remedial actions. And there’s more.

This is not a dream. These plans are real. Such ambitious projects will result in the development of other fields as well related to manufacturing everything needed for its implementation and servicing those who are engaged in it.

Rehabilitation and adaptation

This poses the question: who will do this tremendous job under the conditions when men are at war, and many women are abroad? The Cabinet of Ministers plans to change the education system for adults in response to these challenges and enable people to master new in-demand professions. Moreover, a major program for the psychological and social rehabilitation of veterans is planned. Its mission is to help the soldiers-winners to come back to a peaceful life.

Everyone has high hope for Ukraine’s victory this year. We have a lot of work to do! We would have time to do everything!