The level of the Ukraine Recovery Conference (URC) keeps growing. I have a point of comparison — I’ve attended the previous three conferences. In my observation, earlier URCs were mostly relevant for the Ukrainian community living abroad — a chance to meet and talk. This year, for the first time, the number of foreign investor participants was greater.

The URC in Rome was a truly economic event. The Ministry of Economy did tremendous work to make Ukraine sound louder than ever — not in the military or political sense, but in the economic one, taking into account the full spectrum of the country’s economic interests.

Some Ukrainians believe that foreign investors should automatically want to pour hundreds of billions of dollars into Ukraine, and that foreign banks should knock on every Ukrainian office door offering money simply because we are all “good people.” That’s not how it works. No one will line up to throw money at us for free.

There is no quick way to attract big money — investors need real projects. And as long as the war continues, it’s difficult for Ukraine to look investment-attractive. Moreover, we don’t yet have many large-scale, billion-dollar projects. That’s something we need to work on.

URC is an opportunity for Ukraine to demonstrate its capabilities. This year in Rome, investors and representatives of investment banks from all over the world attended. They see post-war Ukraine as a source of growth for Europe and for various global industries. The task for Ukrainian business and government is to explain to foreign investors why they should invest in Ukraine.

Participants of previous URCs who brought concrete projects to the table have already achieved success. After the war, these will be the first companies to receive foreign grants and investments to advance their projects.

The key sectors currently drawing the most attention from foreign investors are natural resource extraction, building materials, agriculture, and logistics. They are also open to others — biotechnology, processing, energy.

But the real question is whether Ukraine is ready to receive foreign capital. Do we have enough transparent companies with proper audit reports and teams fluent in English? Unfortunately, very few.

I’m genuinely happy to see projects from Ukrainian “white” (transparent) companies at URC. Some got what they wanted, others got less, but these companies are the pride of Ukrainian business. Investors will enter Ukraine thanks to — and through — them. They are examples for other businesses that still have time to prepare.

No one knows whether foreign investors’ interest in the Ukrainian market will remain as strong after the war. Or whether we’ll still be able to gather European politicians and major businesses on one stage to talk exclusively about Ukraine and show readiness to support us — morally, financially, militarily, or through investment.

The $10 billion worth of various-level contracts signed at URC in Rome may seem modest for now. But they will become the foundation for new projects and new jobs — jobs that will generate tax revenue and help Ukraine build resilience.

Only business brings money to a country. Developing a strong business environment in Ukraine is a matter of survival. The era of donations is ending — everyone understands that. If we don’t develop business, we’ll slide back to $50 salaries.

Our national goal should be to achieve a $1 trillion GDP. Only then will we be able to dedicate 5% — around $50 billion — to defense needs, which will allow us to live, build, and sustain resistance. And our enemy will understand that. To reach that level, we must listen to people who are ready to grow both their businesses and the country.

War is the only thing currently stopping foreign investors from putting their money into Ukraine. But it will end, and Ukrainian business must be ready to work with foreign capital.

Some think URC is about finding money for bridges or roads — but that’s not what URC is about. URC is where people and investors from all over the world come to hear about Ukraine’s economic potential, about the Ukraine of the future, and about the companies they’ll be working with. They need to understand how we envision that future.

I have three pieces of advice for Ukrainian business representatives who want to attend URC to attract investment for their projects. First, prepare your company for foreign investment — make it as transparent and reputable as possible. Second, have a project — a clear investment proposal. Third — just do it. Don’t be afraid to move forward; water doesn’t flow under a lying stone.

I want to see Ukraine not as a country of a million sole proprietors, but as a country of a thousand corporations. Because only a developed business environment is the path to a $1 trillion GDP and a prosperous future for Ukraine. And URC is the launchpad for that.

Read the article on Forbes.