Last week, a high-level business delegation from Finland paid a visit to Ukraine with the aim of enhancing Finnish-Ukrainian business ties, exploring potential collaborations and partnership opportunities, and demonstrating support and a commitment to participate in Ukraine’s reconstruction efforts.
Led by the CEO of East Office, Janne Harjunpää, the delegation included key executives from some of the leading Finnish companies: Fortum, Kone, Konecranes, Metso, Peikko, and Wärtsilä. These companies contribute invaluable expertise to sectors critical for Ukraine’s reconstruction, spanning from energy efficiency and sustainable construction to advanced industrial machinery and technological solutions. The delegation’s itinerary comprised a series of high-level meetings, discussions, and site visits in the dynamic cities of Kyiv and Lviv. Moreover, the companies seized the opportunity to convene with their local teams, solidifying their ongoing presence in Ukraine and devising strategies for future expansion.
Exploring Opportunities in Kyiv
In Kyiv, the delegation met with the Head of Kyiv Regional Military Administration Ruslan Kravchenko, President of Confederation of Builders of Ukraine Lev Partskhaladze and deputy Head of Restoration Agency Valeriya Ivanova. The two-day program also included discussions with local business leaders and other prominent figures in key positions to help Finnish companies expand their businesses in the country. The delegation also had the opportunity to meet with the Adviser of the President of Ukraine Rostyslav Shurma.
Topics discussed included Ukraine’s economic landscape, investment opportunities, and the regulatory framework governing business activities in the country. The message of the great industrial potential of Finnish companies, such as the energy-efficient approaches in construction, was received with high interest both from authorities and local companies. Finnish companies highlighted their readiness to meet Ukraine’s urgent needs for sustainable reconstruction, showcasing innovative solutions that align with Ukraine’s vision for a green and resilient future.
Notably, the second day in the capital was aligned with an official visit to Ukraine by Finnish Minister Kai Mykkänen, with whom the East Office delegation met the Deputy Prime Minister for Restoration Oleksandr Kubrakov, the Minister of Environmental Matters, Ruslan Strilets and the Deputy Ministers of Energy Yaroslav Demchenkov and Svitlana Grynchuk. Ukrainian energy companies Ukrenergo and Energoatom were also present.
During these meetings, East Office companies had the opportunity to present their expertise and solutions that would benefit Ukraine in reconstruction and promote the potential for collaboration and knowledge exchange between Finnish and Ukrainian industries.
Finland’s strong support for Ukraine, among the highest in Europe, is evident in both the level of assistance provided and the public sentiment. Pursuing business opportunities in the nation and ensuring Finnish companies play an active role in the market aligns seamlessly with this.
The private sector plays a decisive role in Ukraine’s reconstruction efforts, relying not only on foreign investments but also on international expertise and the adoption of modern, efficient, and sustainable solutions. Finnish companies bring all these elements to the table. Consequently, the united front presented by leaders from both the Finnish government and business undoubtedly reinforces Finland’s message of continued support for Ukraine.
The delegation also sought insights into the construction sector in Ukraine, noting the market’s highly unconsolidated nature and the importance of improving quality standards in public tender processes.
The competitive advantage of the Finnish construction sector lies in its ability to not only comply with EU standards but also meet high requirements from the ESG perspective, including sustainability, energy efficiency, and excellent governance practices. As these requirements will inevitably be the future of Ukraine, addressing them early on is essential.
Janne Harjunpää
Strategically Important Lviv
In Lviv, the delegation met with the Head of Lviv Regional Military Administration Maksym Kozytskyy, the Head of the restoration Agency Mustafa Nayyem as well as local business leaders and industry experts to gain insights into the region’s economic development and investment prospects. Discussions revolved around infrastructure projects, sustainability initiatives, and opportunities for Finnish companies to contribute to Lviv’s growth trajectory.
One of the most heartwarming and impactful initiatives in Lviv was the presentation of the “Unbroken” rehabilitation ecosystem by Lviv Mayor Andriy Sadovyi. This system aims to assist those who have been physically and emotionally injured as a result of the Russian war of aggression. There is a significant need for high-quality rehabilitation services, and this initiative is helping to address that demand.
Lviv is particularly appealing to international companies because of its economic development and easy access in the current environment. The region’s strategic location, with most logistic routes passing through it, coupled with the presence of qualified personnel and a supportive ecosystem created by local authorities, provides a solid foundation for Finnish companies seeking to invest in Ukraine, establish a subsidiary, or open a representative office.
As a delegation, we were impressed by how enthusiastic and dedicated our Ukrainian counterparts were about building strong business partnerships. This visit made it clear that there are plenty of opportunities for Finnish and Ukrainian businesses to work together and grow. With a multitude of new information, valuable business contacts and tokens of support from ministers and other influential parties, our companies are in excellent position to contribute to Ukraine’s reconstruction efforts.
Janne Harjunpää
During the visit, East Office signed a Memorandum of Understanding with the Ukrainian League of Industrialists and Entrepreneurs (ULIE), signaling a mutual commitment to long-term collaboration. This agreement provides our companies with a new avenue for networking and seeking advice, creating opportunities, and strengthening partnerships between Finnish and Ukrainian businesses.
