12th Kyiv International Economic Forum Held in Kyiv

The Kyiv International Economic Forum, or KIEF, brings together business leaders, government officials, and international partners to discuss Ukraine’s economy. Its 12th meeting took place in Kyiv while Russia’s attacks were placing growing pressure on production, property, budgets, and investment. The focus was practical: keeping companies operating now while preserving their ability to grow later.

Prime Minister Serhii Koretskyi said Russia had intensified attacks on Ukraine’s economy. He also said the economy continues functioning because entrepreneurs and their teams remain resilient. Discussions covered lending, war-risk insurance, labour shortages, EU trade access, security planning, and recovery resources.

The meeting showed a cautious but pragmatic business mood. Companies are adapting to threats, while government and international partners are expected to provide predictable rules, insurance, financing, and support. KIEF’s leaders said cooperation is essential because no single group has ready-made solutions to every wartime problem.

Ukraine’s economic damage is already substantial, and the figures presented at KIEF show pressure on both private property and public finances. Direct losses have exceeded $7.7 billion. More than 1 million square metres of real estate have been damaged or destroyed. These losses reduce productive capacity and increase the cost of rebuilding.

The government faces a separate budget problem. Prime Minister Serhii Koretskyi warned that state revenues could finish approximately $1.5 billion below projections by the end of the year. That shortfall limits the money available for public services, business support, security, and recovery.

Together, the figures explain why Ukraine needs businesses to remain active and why outside assistance matters. Companies must protect operations despite destruction, while the government develops lending and insurance programmes with limited budget resources. Recovery will require continued economic activity, investment, and international partnership.

Ukrainian businesses are treating security and emergency response as part of ordinary operations. Companies are revising security protocols, building shelters, and developing their own emergency capabilities. These measures help them respond faster when attacks threaten workers, buildings, equipment, or supply chains.

Nova Poshta provides a striking example. Vyacheslav Klymov said the company had created its own air-defence project, which had already intercepted Russian drones. Other businesses are establishing their own firefighting services. These steps move some emergency protection directly into company operations rather than leaving every response to public systems.

Production planning is also becoming more flexible. Businesses are preparing for a range of scenarios and trying to maintain output despite uneven effects across industries. However, rising security and recovery costs reduce their ability to make new investments. Continued operation therefore depends on resilience, cooperation, and support for recovery.

Affordable loans give companies access to money when wartime risks make ordinary financing harder to obtain. Firms can use lending to maintain production, pay for essential operations, and support recovery. Insurance serves a different but connected purpose: it can compensate firms after covered losses, helping them repair property instead of absorbing the full cost themselves.

The Affordable Loans 5–7–9% programme has provided UAH 580 billion since its launch. Separately, 457 companies have insured property through a loss-compensation programme administered by the Export Credit Agency. Potential compensation under that programme exceeds UAH 9 billion.

These tools can protect productive capacity and help preserve jobs by reducing the financial shock of attacks. The government plans a broader war-risk insurance system, allocating $1 billion and seeking about $3 billion from international partners. Still, high security and recovery costs continue to limit new investment.

Tighter EU trade restrictions create a direct problem for Ukrainian exporters. Steel producers and agricultural companies are particularly affected because reduced access to European markets can limit sales opportunities. That pressure can weaken revenues, production plans, and the resources available for investment during the war.

Business representatives at KIEF highlighted this reduced market access. Taras Kachka, Ukraine’s representative to the EU, called for faster integration into the EU single market and expansion of the industrial visa-free regime. The aim is to make trade and industrial cooperation more accessible for Ukrainian companies.

The EU market matters because it is an important destination for Ukrainian exports and a pathway toward closer economic integration. The article does not quantify lost sales, but it shows that restrictions are already a business concern. Better access could support exporters, production, jobs, and longer-term recovery while companies face wartime costs.

Ukraine’s businesses are short of workers because approximately 5 million people have migrated, according to experts cited at KIEF. Companies particularly struggle to find skilled employees. This shortage can restrict production and make it harder for firms to respond to recovery needs, even when financing or markets are available.

One proposed solution is dual education. It combines academic learning with practical training, allowing people to build job-relevant skills while studying. This could help employers develop a stronger workforce and connect education more directly to business needs. The discussions also stressed employment opportunities and affordable housing as conditions for return.

No single measure will solve the shortage immediately. Training can expand the future supply of skilled workers, while jobs and housing can make returning more realistic for Ukrainians abroad. Addressing labour shortages would support production, preserve business capacity, and strengthen Ukraine’s longer-term recovery.

During war, an economy keeps functioning when several groups share risks and responsibilities. The government sets programmes and rules, banks deliver loans, insurers help cover damage, and businesses use those tools to protect production and jobs. International partners can add money and support when national budgets are strained.

Ukraine’s Affordable Loans 5–7–9% programme has supplied UAH 580 billion in loans. The Export Credit Agency has helped 457 companies insure property, with potential compensation above UAH 9 billion. The government also plans a broader war-risk insurance system, committing $1 billion and seeking about $3 billion from international partners.

Businesses must still adapt directly by improving security, planning for emergencies, and supporting one another as customers and suppliers. The system is under pressure: revenues may fall short, attacks raise costs, and labour shortages persist. Predictable rules and cooperation can protect current activity and support recovery investment.