What Awaits Ukrainian Businesses and Companies: Preparing for an Investment Future

On July 14, President Volodymyr Zelensky proposed that First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko head the government, replacing Denys Shmyhal, who has held the post for more than five years. The president named three priorities for Svyrydenko: taking real measures to strengthen Ukraine’s economic potential, expanding support programs for Ukrainians, and scaling up arms production.

Forbes Ukraine asked Ukrainian business leaders what measures they would prioritize in the first 100 days if they were in Svyrydenko’s position — and what the new government should address in their sectors.

Ruslan Shostak, owner of Terwin Corporation and co-owner of retail chains EVA and Varus

I consider the appointment of Yulia Svyrydenko as Prime Minister of Ukraine both expected and the right step. Her effectiveness as First Deputy Prime Minister and Minister of Economy has been proven by tangible results. She has achieved significant progress in deregulation, industrial programs, and support for small and medium-sized businesses. For the first time, she built open and constructive relations with Ukrainian business — not with the oligarchy.

Her work over the years has been not only active but also public, which is extremely important for a government leader. The effectiveness of any public official should be evaluated through clear KPIs and the implementation of a public strategy. These indicators must be transparent so that every citizen can see the results and draw their own conclusions.

We must remember that power is not a privilege but a representation of people’s interests across sectors of the economy. And the Ukrainian budget is not a grant — it’s money that comes exclusively from business and no one else.

Maksym Shkil, founder of Autostrada

I view Svyrydenko’s appointment positively. She’s a competent official with solid understanding and experience in working with business. Under her leadership, the Ministry of Economy maintained constant contact with entrepreneurs and built productive cooperation. We created an effective communication platform with the ministry under the Federation of Employers of Ukraine.

Another advantage is her strong grasp of international economic policy — vital for the country’s recovery. Investments and donor funds require precisely the kind of expertise she possesses.

The new government’s main goals should be reducing law enforcement pressure on businesses and transforming customs and tax agencies from punitive bodies into service institutions.

In my sector, the key issue is the lack of transparent rules and qualification-based selection for construction tenders. Evaluation criteria should include not only price but also experience, team, and equipment — like those of EBRD and World Bank tenders. While the Ministry of Defense and Ministry of Digital Transformation reformed pricing systems, the reconstruction sphere hasn’t. Businesses should have a legal profit margin, but currently we’re constrained by a Soviet legacy.

Another critical issue is the exploitation of old Russian-made railway wagons. Their service life has been extended while new wagons stand idle — prices dropped, factories lack orders, and decommissioning is blocked by lobbying interests.

Serhiy Tihipko, founder of TAS Group

Svyrydenko is ready for premiership — she’s gone through the tough “school” of the Ministry of Economy. I know how demanding it is, especially during wartime.

The new government must fully mobilize available reserves — there are many. The key is to talk with business, listen, and react quickly.

I expect Svyrydenko to launch a “conveyor belt” of deregulation decisions and initiatives for the president. This will boost business optimism and show that the government helps rather than hinders. It won’t negatively affect the budget — it will only add to it.

I’ve seen her in action — she understands that deregulation can solve a lot.

Oleksandr Yakovenko, founder of drone manufacturer TAF Drones and logistics company Supramarine

If I were in Svyrydenko’s place, the first 100 days would focus on three things:

Simplify regulations — abolish half of outdated norms so business can breathe.
Create a transparent export support fund — loans and grants for promoting Ukrainian goods in the EU.
Stop law enforcement pressure on business — “mask shows” should remain in the past.

Svyrydenko’s appointment opens opportunities, but I doubt she’ll radically change the system because she tends to work within it.

Yuriy Sorochynskyi, CEO of Nemiroff

From the first days of the full-scale war, Svyrydenko showed proactivity and constructive dialogue with business. But to truly launch economic recovery, the first 100 days must bring a “regulatory guillotine” — abolishing at least 85% of outdated wartime-irrelevant regulations.

In full-scale war, the country can’t live by peacetime rules. The domestic investor is the only real driver of recovery — they need a green light now, without excessive control or pressure. Systemic deregulation — not cosmetic — is the signal of trust we need.

Volodymyr Lavrenchuk, regional director of NEQSOL HOLDING B.V. in Ukraine

The experience Ukrainian officials have gained during the crisis and years of war — where every day equals a year of challenges — is unique and powerful. There’s little to advise someone who knows what to do and leads a strong team of like-minded professionals, as she does at the Ministry of Economy. A true leader of true leaders.

Svyrydenko has a rare talent for gathering strong people around her.

As strategic investors, we view positively the focus on large-scale privatization and attracting international financial institutions. In our sector — extraction of critical materials, including titanium — continued development of public-private partnerships is key. We expect the agreement with the U.S. to accelerate this process.

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What Ukrainian Business and Companies Should Expect: Preparing for an Investment Future

July 16, 2025

On July 14, President Volodymyr Zelensky proposed that First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko head the government, replacing Denys Shmyhal, who has held the position for more than five years. The President named three priorities for Svyrydenko: concrete measures to strengthen Ukraine’s economic potential, expand programs supporting Ukrainians, and scale up weapons production.

Forbes Ukraine asked Ukrainian business leaders which measures they would prioritize in the first 100 days if they were in Yulia Svyrydenko’s position—and which top problems in their markets the new government should resolve.

Ruslan Shostak, owner of Terwin Corporation and co-owner of the EVA and Varus retail chains

I believe Yulia Svyrydenko’s appointment as Prime Minister of Ukraine is both expected and the right decision. Her effectiveness as First Deputy Prime Minister and Minister of Economy has been confirmed by tangible results. She achieved significant progress in deregulation, industrial programs, and small and medium business support. For the first time, she built open and constructive relations with Ukrainian business rather than with oligarchs.

Her work over these years was not only active but also public, which is extremely important for a government leader. The effectiveness of any public official should be evaluated through clear KPIs and the implementation of a public strategy. These indicators should be open so that every citizen of Ukraine can see the results and make their own conclusions.

It’s important to remember that power is not a privilege, but representation of the people’s interests across economic sectors. And the Ukrainian budget is not a subsidy—it’s money that the country receives solely from business and no one else.

Maksym Shkil, founder of Autostrada

I view Svyrydenko’s appointment positively—as a competent government official with solid understanding and experience in working with business. The Ministry of Economy under her leadership maintained constant contact with entrepreneurs and established productive cooperation. Together, we created an effective communication platform with the ministry based on the Federation of Employers of Ukraine.

Another advantage is that Svyrydenko understands the international dimension very well, which is vital for the country’s recovery. Investment and donor funding are exactly where her expertise is needed.

The key priorities of the new government should be reducing law enforcement pressure on business and transforming customs and tax services from punitive bodies into true service providers.

In my sector, the main issue is the lack of transparent rules and qualification-based selection in construction tenders. Selection criteria should include not only price, but also experience, team, and available equipment—like in EBRD and World Bank tenders. The Ministry of Defense and Ministry of Digital Transformation have reformed pricing; the recovery sector has not. Businesses should have a legally defined profit margin, but we are still constrained by Soviet-era legacies.

Another critical issue is the continued use of old Russian railway cars. Their service life was extended, while new ones sit idle, prices have dropped, and factories have no orders. Decommissioning is blocked and lobbied by certain structures.

Serhiy Tihipko, founder of TAS Group

Svyrydenko is ready for the role of Prime Minister—she went through a rigorous school at the Ministry of Economy. I know firsthand what a “frying pan” that place is, especially during wartime.

The new government will need to activate all available reserves—and there are many. The main thing is to talk with business, listen, and respond quickly.

I expect Svyrydenko, as Prime Minister, to establish a “conveyor belt” of decisions on deregulation and to submit her own initiatives to the President. This would encourage business optimism and show that the government is helping rather than hindering. It doesn’t harm the budget—on the contrary, it adds to it.

I’ve listened to Svyrydenko at roundtables and observed her reactions. She seems to understand that deregulation can solve a great deal.

Oleksandr Yakovenko, owner of TAF Drones and logistics company Supramarine

If I were in Svyrydenko’s place for the first 100 days, I would do three things:

Simplify regulations—abolish half of the outdated norms to give business room to breathe.
Create a transparent export support fund—loans and grants to promote Ukrainian goods in the EU.
Stop law enforcement pressure on business—“mask shows” must remain in the past.

Svyrydenko’s appointment opens opportunities, but I doubt she can fundamentally change the rules of the game given her tendency to work within the system.

Yuriy Sorochynskyi, CEO of Nemiroff

From the first days of the full-scale war, Yulia Svyrydenko demonstrated a proactive approach and constructive dialogue with business. But to truly launch economic recovery, a radical “regulatory guillotine” is needed in her first 100 days as Prime Minister—abolishing at least 85% of outdated regulatory acts that no longer fit wartime conditions.

In full-scale war, a country cannot live by peacetime rules. The domestic investor is the only real driver of recovery, and they need a “green corridor” now—free from excessive control, restrictions, and pressure. Not cosmetic simplification, but systemic deregulation—that’s the signal of trust.

Volodymyr Lavrenchuk, Regional Director of NEQSOL HOLDING B.V. in Ukraine

The experience Ukrainian officials gained during years of war and crisis—where each day equals a year of challenges—is unique and powerful. Advising someone who already knows what to do and leads a team of like-minded professionals, as in the Ministry of Economy, is unnecessary. A true leader of true leaders.

Svyrydenko has a rare talent for bringing strong people together.

From a strategic investor’s standpoint, we view positively the course toward large-scale privatization and the development of mechanisms for engaging international financial institutions. In our field—critical materials extraction, particularly titanium—we expect continued development of public-private partnerships. The recently signed agreement with the U.S. should accelerate this progress.

Ihor Humennyi, founder of UBC Group

Svyrydenko is the best option among the current political establishment. I sincerely hope she can become Ukraine’s Balcerowicz and take responsibility for deep economic reforms.

In the first 100 days, I expect implementation of the following publicly declared priorities:

Reduce the state’s share in the economy to 25% of GDP (with a clear post-war timeline).
Tax reform.
Dismantling of infrastructural monopolies.
Total deregulation and a shift to a liberal economy free of excessive control.
Cleansing of fiscal, customs, and oversight agencies.
Replacing about 500 licensing procedures with a declarative system.
Adoption of a law for accelerated regulatory review.

The key is to give Svyrydenko full authority—not just as a technical leader but as a fully empowered head of government—with her own team, political mandate, and decision-making autonomy. Without that, “structural reform” and the course toward a “minimal state” will remain just slides in a presentation.

I truly hope Ukraine becomes a place to live and do business—the best place for investment, not a toxic environment that only suits bureaucrats and those who adapt to them.

Dmytro Oliynyk, Head of the Federation of Employers of Ukraine

Expectations for Svyrydenko are positive. As Minister of Economy, she consistently supported the manufacturing industry, and as Prime Minister, that focus will likely strengthen with greater authority.

I’ve been with the Federation of Employers since 2004 and don’t recall a single Economy Minister who traveled the regions and communicated so much with the real sector. Svyrydenko has direct contact with manufacturers and workers—she knows their reality and understands where economic policy should focus.

Successful initiatives include the “Made in Ukraine” program and the localization law. For example, thanks to equipment cost compensation and localization programs after the full-scale invasion, Ukraine began producing over 300 new types of machinery—for agriculture, infrastructure, and defense. Today marks three years since the localization law was passed, which became the foundation for this program.

As for controversial decisions, I’m not sure cashback mechanisms make sense economically.

If Svyrydenko becomes Prime Minister, I hope to see the development of localization in the defense sector, the start of controlled arms exports, and creation of a joint EU arms market. These topics have been discussed publicly, and the groundwork is there—but it’s time for execution, not just talk.

Ukraine has everything it needs to rapidly launch defense production. If the next government focuses on this goal, Ukrainian-made weapons will be the result of decisions, not just rhetoric.

Andriy Pivovarsky, CEO of WOG

I don’t have overly high expectations of the new government—the main thing is to survive under wartime conditions. At the same time, we hope Svyrydenko’s team continues fighting the black market in the fuel sector. This is our biggest problem: about 20% of fuel sales remain in the shadows—cash payments, no taxes.

Andriy Rodkin, founder of Glamping UA

I take a neutral stance on Svyrydenko’s potential appointment, as I don’t know her personally.

From a business perspective, I expect liberalization of the tax system, resolution of VAT refund blockages, and the introduction of deferred import VAT payment—at the time of sale, not in advance.

Another key issue is simplifying export conditions, especially easing or removing the 180-day limit for returning foreign currency revenue.

Andy Hunder, President of the American Chamber of Commerce in Ukraine

Yulia Svyrydenko consistently listened to the voice of the business community. Her top priority was maintaining business operations, and we felt her understanding and support.

Supporting the economy during full-scale war has undoubtedly been her key achievement as wartime Economy Minister.

It’s also important to note the establishment of the Ukrainian-American Reconstruction Investment Fund—an extremely significant event for bilateral relations between our countries, made possible by her effective leadership and the efforts of her young professional team.

We have always had transparent, trusting, and constructive relations with Yulia and her team and look forward to continued cooperation.

Kateryna Zagoriy, Chair of the Board of Directors at Darnitsa and co-founder of the Zagoriy Foundation

If I had 100 days as Prime Minister, my goal would be clear and uncompromising: to transform the pharmaceutical industry from a commercial segment of healthcare into a strategic pillar of the wartime economy.

Over the last decade—and especially during full-scale war—pharmaceuticals have proven to be not just a part of healthcare, but a critical infrastructure component and a cornerstone of economic resilience.

The new government has both the chance and the duty to transform Ukrainian pharmaceuticals:

into a tool of wartime advantage, not a supply-chain vulnerability;
into a point of national autonomy capable of providing essential and complex molecules even amid logistical collapse;
from a shadowed, fragmented sector into a transparent, accountable, state-supervised system.

Three strategic steps for the first 100 days:

Integrate the pharmaceutical sector into national defense planning:
- Grant pharmaceutical manufacturing and logistics official critical infrastructure status.
- Approve a mandatory list of essential substances and forms that must be permanently stocked in Ukraine.
- Create a guaranteed nationwide pharmaceutical supply system for prolonged war.
- Introduce monitoring, risk indicators, and crisis mobilization mechanisms.
This ensures state control over life-sustaining resources during extended conflict.
Unblock distribution—cut the Gordian knot of monopolies:
- Break the duopoly controlling 95% of the market through real antitrust measures.
- Unmask retail pharmacy networks that pretend to be thousands of independent companies.
- Establish a state distribution alternative for critical medicines under transparent margin rules.
Today, pharmaceutical distribution is a choke point that allows leverage over producers, the state, and consumers.
Launch an industrial policy for pharmaceuticals:
- Approve a five-year pharma-industrialization program with clear budget, zones, and PPPs.
- Create 3–5 pharmaceutical clusters to support vaccine production, GMP certification, and modernization loans.
- Sign joint R&D and production deals with key global partners under localization and reinvestment terms.
- Rebuild or create domestic API production to reduce dependency on China and India.

The new government has 100 days to choose: leave pharmaceuticals as a playground for market manipulation, or recognize them as a strategic asset—no less vital than energy or food.

Iryna Horova, founder and CEO of pomitni label

I would focus on supporting sectors with export potential—including the creative industries. Culture is an economic force. Ukrainian music, film, fashion, and other creative products are already exported but lack systemic government support.

I would also initiate large-scale education programs for professionals in creative industries—technology, marketing, and intellectual property. Build modern state–business partnerships that make cultural investment logical, transparent, and profitable.

We face a set of problems that hold the industry back:

Outdated copyright and royalty legislation.
High tax burden on royalties.
Widespread content piracy and weak enforcement.
Lack of reliable market data and analytics.

Ukraine must modernize IP protection, motivate streaming, media, and film industries to feature Ukrainian music, and ensure fair compensation for creators.

Volodymyr Petrenko, owner of UPG gas station network

We expect the new Prime Minister to find the strength, resources, and support to unite all sectors of the economy around the Cabinet. Business must work—create jobs, pay taxes, sustain the economy. The state must ensure predictable rules, stability, and dialogue.

The key now is not only making decisions, but rallying around them. That’s the most valuable thing in wartime conditions.

The most important task is establishing consistent, effective communication between government and business. Without dialogue—listening to entrepreneurs from small firms to large corporations—it’s impossible to build a stable economic environment. Business isn’t only about profit; it’s about infrastructure, jobs, taxes, and resilience.

The government must institutionalize and systematize business engagement so we can build a strong country together, even during full-scale war.

Valeriy Krasovskyi, CEO and co-founder of Sigma Software

It’s essential to attract foreign investment into innovative defense projects and help the private sector raise funds.

Coordination between ministries should improve—for example, integrating the Defence City and Diia.City initiatives. You can never have too many defense incentives. Eliminate as many taxes as possible from defense projects. Maintain stability and growth within the Diia.City tax regime.