Ukraine: Construction and Energy Sectors Attract Greek Businesses

Greek entrepreneurs, particularly those in the construction and energy sectors, are eager to take center stage in the monumental task of rebuilding post-war Ukraine. At a recent event hosted by the Ministry of Foreign Affairs, which highlighted the challenges and opportunities in post-war Ukraine, Ukrainian officials reached out to Greek businesses, extending a formal invitation for their participation in the reconstruction efforts, particularly in revitalizing the country’s infrastructure.

Recent estimates from Ukrainian sources indicate that the cost of reconstruction has surged to 750 billion dollars, while figures from the European Investment Bank escalate the tally to a staggering1 trillion euros.

Greek businesses are finding investment opportunities across various sectors. During Ukraine’s reconstruction, the construction industry anticipates substantial growth, coupled with heightened demand for building materials. This trend opens avenues for Greek companies to engage in projects and investment ventures.

A noteworthy portion of Ukraine’s current exports is facilitated by Greek-owned fleets, comprising 37.24% of total ships departing from Ukrainian ports and carrying 53.11% of the country’s exported goods.

An initiative led by the Hellenic Federation of Enterprises (SEV) is already supporting eight Ukrainian startups, with plans to expand the hosting of more. Ukrainian firms exhibit remarkable dynamism, particularly in artificial intelligence, big data, energy, and healthcare, but they require enhanced access to funding for sustained expansion.

Given the extensive damage to Ukraine’s energy infrastructure and the imperative to reduce reliance on Russian energy, a transition towards Renewable Energy Sources (RES) is anticipated. Greece’s expertise in solar and wind energy presents opportunities for collaboration with Ukrainian partners.

Opportunities may also emerge for Greek companies to engage in environmental sectors, such as recycling, waste management, and irrigation, potentially through participation in public projects.
A recent conference in Stockholm highlighted the resilience of the Ukrainian economy as it looks towards the “post-war” era.

Ukraine’s Vision for 2030-2035 prioritizes agriculture, green energy transition, eco-friendly industrial practices like green steelmaking, and digitalization.

Numerous companies are eager to contribute to Ukraine’s reconstruction through collaborative efforts between the public and private sectors.