Investments, artificial intelligence, and global challenges: takeaways from Davos

27.01.2025

Ruslan Shostak, President of TERWIN

The 55th anniversary of the World Economic Forum in Davos has ended. Its main theme was collaboration in the intellectual age. However, global risks such as wars, environmental disasters, and geopolitical confrontations stand in the way. What is Ukraine's place in all of this? Forbes Ukraine spoke with Ruslan Shostak, the founder of the Eva and Varus networks and president of Terwin, who attended this year’s WEF. What challenges and opportunities does the presidency of Donald Trump bring? Where should we invest money, and how can Ukraine avoid being left behind in the world economy?

The conversation has been shortened and edited for clarity.

Could you describe the main highlights of the 2025 World Economic Forum?

This year, 3,000 global leaders, 65 presidents, and representatives from major global companies gathered in Davos. Each presented numerous presentations, shedding light on global economic trends and where the world is planning to invest and move forward.

These are important insights that businesses gain from the forum.

Are representatives of foreign companies and investors attending Davos with clear business ideas and a readiness to invest? Have they come to see Ukraine as a promising destination for investment?

Unfortunately, Ukraine is not very represented in terms of specific investment proposals. The ongoing context of the war, the need for aid, and the difficult situation continue to dominate discussions. On the other hand, global businesses and investors need a clear investment plan. They are willing to invest, but they are not just interested in participating in rebuilding Ukraine—they are focused on their economic growth.

The West has hit an investment ceiling. This presents an opportunity for Ukraine, though we are not fully utilizing it at the moment.

What made WEF 2025 different from previous forums?

The difference was in the agenda.

WEF 2025 was less about the economy and more about Donald Trump’s presidency. His inauguration coincided with the opening of the forum. The world now has a new Western leader, who will conduct a deep audit of relations between the West and the East.

The entire Western world is waiting for the auditor to arrive and ask what they have been doing for the last 30 years. Despite the risks, they still see themselves as a white ship with rainbow sails floating on a small lake. But alongside them are pirate ships with black sails. The West continues to be surprised by this.

Do they perceive Trump’s rule more as a risk or an opportunity?

As in Ukraine, opinions about Trump vary. Some see him as a risk and uncertainty, while others see him as an opportunity.

The great war happening in the center of Europe has not awakened the West—it remains asleep. It is divided, including over the question of whether to continue supporting Ukraine or to force us to surrender. The same processes are happening in the economic sphere.

However, Trump adds confidence to the West in defending its interests. He offers guidance on how to do this. I think many leaders will begin to consider this more seriously.

Some will use this as an opportunity, an additional lever for development, while others will fear puncturing their bubble, in which they’ve lived for the last 30 years.

Has the attitude of the global business and political representatives toward Ukraine changed, and if so, how?

There might be less attention than in 2022, but Ukraine is still relevant. There was a huge line at the entrance to the Ukrainian House at the WEF.

The streets of Davos were filled with 65 presidents, company owners, and top managers. During the WEF, you won’t see ordinary people. But as soon as President Volodymyr Zelensky appeared, the street was blocked, and a line formed to take photos with him. In my opinion, this indicates that our president’s popularity in the West is still high.

However, the interest in Ukraine is changing. Now, people want to hear about real economic proposals and projects, about economic and anti-corruption changes in the country.

Ukraine needs to shift to an economic agenda for collaboration with the world, rather than focusing on how bad things are at economic forums. We should present projects that will increase our GDP and enhance our reputation.

What about our reputation?

A country’s reputation is crucial in both economic and political realms. We need to work on improving Ukraine's reputation.

Many Ukrainian companies and politicians are doing this, but we need to do more. It’s a large set of issues.

Should there be a package of prepared business plans for representatives of Ukraine to present at such large forums as Davos?

100%. For example, Saudi Arabia built a separate pavilion in Davos to present a $1 trillion investment project for the development of Neom City. This city is a 170 km long line near the Red Sea, along with other cities in the desert that the Saudis want to develop.

This is a state-run project. The government encourages investors and supports them. It’s a very powerful communication strategy—investors will definitely be found.

Ukraine also has the opportunity to offer projects worth $1 trillion to the world. Not just at the Davos forum, but there are 3-4 such forums worldwide each year. And we should be represented at all of them with specific economic development plans for the country. We shouldn’t focus solely on military topics.

When we talk about the economy and business, the world wants to see improvements in economic ratings. That’s what they focus on. We can claim to be a super-European developed country, but in reality, we might be on par with Angola or Nigeria.

Yes, the war negatively impacts the environment, but it also offers opportunities for economic change.

Let’s return to the economic agenda of the forum. What economic trends will dominate in 2025?

The world will change. Donald Trump’s presidency in the US and the development of artificial intelligence are two drivers of change. The agreement to build a $500 billion infrastructure for artificial intelligence in the US has drawn attention to AI.

AI brings not only positives but also risks, such as the reduction of industries and jobs. Therefore, businesses now need to be a bit more visionary, thinking about how their industries will evolve and what they can do to counter these threats to avoid being left behind in history.

In which areas is the global business most interested in investing?

Artificial intelligence is the first area. The second is the military sector. The world is anticipating risks from major military conflicts. There has been a lot of talk about spending 3-5% of NATO countries’ GDP on military expenses. These are trillions of dollars in investments in military economies. This presents a great opportunity for Ukraine and Europe.

Zelensky’s proposal to pay Ukraine 0.3% of GDP is an opportunity for Europe to secure a huge army on its eastern borders. And this is also about the military economy.

The third area is the reduction of investments in alternative energy and ecology. This is a global trend that will shift from "green" to another color. "Green stories" will no longer be as popular. Many grant programs will be closed in the next 4-5 years.

This is a threat to the world but not to Ukraine. The investments and grants received by "green" companies globally, Ukraine never received.

The fourth area is food security. The world recognizes Ukraine’s significant contribution to global food security. Food is an area where investments will continue because Ukraine is seen as a resource-rich country in the West.

We need to develop the digital story and attempt to sell Ukraine as a modern state. Because a country of warriors and farmers is a story from the 19th century.

What new business ideas are you bringing back from Davos?

There were powerful meetings with investment bankers. We didn’t discuss aid for Ukraine but focused on economic projects.

Our task is to bring them to Ukraine’s side. People in Davos are looking at the whole world and considering investment opportunities in Malaysia, Singapore, and the US.

They are ready to invest in Ukraine, although they understand the military risks. But for them, it’s important to have good partners in Ukraine and legal security to protect their investments.

Yes, it’s not billions yet. For big money, relationships need to be built over the years. The world is currently offering many projects looking for investments. Ukraine is not yet offering anything unique.

Interest in Ukraine is high, but it needs to be monetized. After Davos, we should be able to say, “We brought approved investment projects worth billions of dollars, and we’ve invested in dozens of Ukrainian companies.”

Where is the world heading after WEF?

The world has a risk map, and it sees an increase in risks, such as military conflicts.

Before Russia’s full-scale invasion, we didn’t notice wars in the Arab, Asian, or Latin American regions. But the world is always at war.

Now, the world is militarizing, not just with people but, first and foremost, with technology and money. The world is preparing for artificial intelligence because it will change everything: warfare, politics, and state governance—just like the development of the internet and telecom networks once did.

In the short term, it’s about Trump and his challenges and audits, which he will use to try to force the Western world to change. They will begin to protect their physical and psychological borders from the aggressive economic policies of China, Russia, and other countries supporting the Eastern worldview.

Ukraine is seen in the world through the lens of war, but not through its economy. We still have tremendous global support, but we don’t have much time to change, promote our products, and push our interests.

This is an important issue because I want our economy to be recognized in the world and for there to be opportunities to invest here. Otherwise, nothing will happen. We need to change the economic approach to our state.