Doing business in and with Ukraine

Do you want to contribute to the reconstruction of Ukraine as a company? Our Office of the Special Envoy for Ukraine has some tips for you.

Thank you for your interest in the Belgian and EU contribution to the reconstruction of Ukraine. Our companies will also certainly play an important role in the reconstruction.  

You can obtain information and guidance to develop your activities in Ukraine via various agencies at the federal and regional level.

The regional trade agencies Flanders Investment & Trade (FIT), Wallonia Export & Investment Agency (AWEX) and the Brussels Agency for Entrepreneurship (hub.brussels) can guide you in identifying opportunities in Ukraine. This is done, among others, by providing information on specific tenders and support in the search for Ukrainian partners.

You can contact the following:

• FIT: kris.put@fitagency.com (Flanders Economic Representative for Poland and Ukraine). FIT has a very useful dossier on the rebuilding of Ukraine on its website: "Rebuild Ukraine".
• AWEX: Aris Georgiopoulos, Economic & Commercial Counsellor Poland et Ukraine; kyiv@awex-wallonia.com. AWEX's classic aid on the Ukrainian market: see Ukraine and Reconstruction.
• hub.brussels nneve@hub.brussels (General Representative Warsaw).

The Belgian export credit agency Credendo is restarting cover for export transactions with Ukraine. 100 million euros are provided for this purpose, of which 75 million euros are provided for short-term transactions (with a loan period of up to one year) and 25 million euros for medium- and long-term transactions (with a loan period of more than one year). The insurance is there for transactions with sufficient Belgian interest and for up to 15 million euros per transaction. Where necessary, a guarantee will be sought from a Ukrainian bank or authority. More information can be obtained from Kristof Luycx (business development-eca@credendo.com).

Concessional financing of export transactions is available through Finexpo (federal export financing). Finexpo's intervention mainly focuses on the financing conditions for loans associated with the supply of equipment goods and related services, in line with the fundamental values central to Belgian diplomacy. You can contact the Finexpo Secretariat for details (Finexpo@diplobel.fed.be).

Business participation in rebuilding is also being encouraged at the European level. The European Union has set up a 50 billion euros aid facility for Ukraine (Ukraine Facility). One of the pillars of this facility concerns the Ukraine Investment Framework, which has the objective of financing private and public investment for reconstruction. To this end, the Ukraine Investment Framework has a budget of 9.3 billion euros, of which 7.8 billion euros is for guarantees and 1.51 billion euros for blended financing. It is allocated through international institutions such as the European Investment Bank and the European Bank for Reconstruction and Development (EBRD). Further information about the first round of investment can be found in the following document: Ukraine Investment Framework. You can also contact NEAR-EU-UKRAINE-INVESTMENT-FRAMEWORK@ec.europa.eu.

The Belgian development agency Enabel has begun implementing a 150 million euros reconstruction programme focusing on the Kyiv and Chernihiv regions, which will run over four years. The programme revolves around education, health, infrastructure, and energy, with a focus on energy efficiency and green energy, all based on a "build back better" approach according to EU standards. To this end, cooperation with private companies takes place through public tendering procedures. Enabel tenders are published on BOSA - eProcurement and are also shared through the regional trade agencies. Enabel cannot provide direct support to Belgian companies, but it can support the training of Ukrainian technical personnel for companies wishing to invest in Ukraine, under the bilateral programme. For further information, visit the Enabel website (Belgian Development Agency - Enabel) or representation.ukraine@enabel.be.

We should also mention that the Belgian Investment Company for Developing Countries (BIO) will invest 18 million euros in Ukraine to support the resilience of the local economy. This initiative will focus on small- and medium-sized Ukrainian companies. You can contact jonathan.walton@bio-invest.be and francois.maudet@bio-invest.be for more information.

There are currently no grants for activities in Ukraine.

The Ukrainian government itself is making great efforts to attract foreign investors:

• The Ukraine Invest agency publishes investment guides with information on specific opportunities (Homepage - UkraineInvest).
• Specific rebuilding projects are published on the DREAM platform (and the procurement and implementation process can be followed).
• Specific investment projects are presented on the Advantage Ukraine investment platform.
• Public tenders are conducted through Prozorro (Головна | Prozorro).