Foreign countries are actively launching a number of programs to support businesses that invest in the reconstruction of Ukraine. According to Yevhen Kirichenko, the founder of the international employment agency Gremi Personal, governments of various countries are already creating institutional support for companies planning to enter the Ukrainian market.
This is reported by Business • Media
Main Support Initiatives for Foreign Businesses
- Poland has introduced a special credit program for participation in the reconstruction of Ukraine. It provides over $67 million in preferential loans for companies interested in implementing projects in logistics, construction, and the supply of goods and services.
- France, through the insurance agency Bpifrance Assurance Export, offers coverage of up to 95% of political and commercial risks for French companies operating in Ukraine even before the war ends. In addition, investment funds worth hundreds of millions of euros have been established for investing in critical infrastructure, healthcare, energy, and water supply.
- Germany is developing similar tools: through KfW and the Euler Hermes agency, programs for credit guarantees and investment insurance for companies investing in Ukraine are being worked on.
- Italy has created mechanisms involving the export credit agency SACE, which allow for the support of Italian investments and reconstruction projects involving Italian businesses. Available limits reach €1.5 billion.
- Japan has announced the allocation of up to $100 million to support the recovery of Ukraine through the JBIC (Japan Bank for International Cooperation) fund in close collaboration with the private sector.
Labor Shortage Remains a Major Obstacle
Despite significant government support from foreign countries, potential investors are deterred by the labor shortage in Ukraine. Many companies refuse to enter the market even with favorable loans and insurance due to a lack of workers.
“The situation with the labor force is so dire that some large investors are unwilling to enter Ukraine even with government support. They simply do not know where to find labor for new enterprises,” notes Kirichenko.
Yevhen Kirichenko believes that the solution to the problem could be legal and professional personnel outsourcing. This approach will allow for the rapid coverage of labor shortages in key sectors, reduce risks for investors, and ensure the continuity of project implementation for the country’s reconstruction.