On November 29, 2024, Finland's Economic Ministry reported that Finnish companies are keen to participate in the reconstruction of Ukraine and invest in various sectors including energy, agriculture, IT, and transportation.
This announcement followed a meeting between First Deputy Minister Oleksiy Sobolev and a Finnish delegation led by Janne Kankanen, head of the Finnish State Agency for Vital Functions and National Security, along with business representatives.
Since February 2022, Finland has played a significant role in supporting Ukraine, allocating €3.1 billion for defense and humanitarian aid. The Finnish national plan includes participation in Ukraine's reconstruction, with the Finnfund already investing in the private sector.
Finnish companies have positively assessed the Ukrainian government's efforts regarding war risk insurance, identifying it as a priority area. Discussions also included expanding Finnish business presence in energy, IT, transportation, green technologies, and projects from the Unified Public Investment Portfolio.
Sobolev presented government support programs for businesses and investors, including tax incentives for residents of industrial parks and projects involving investments over €12 million. He urged Finnish companies to join the new project collection under the Ukraine Investment Framework, announced by the European Commission for the EU private sector.
As reported, Ukraine officially began accepting applications from businesses for participation in the Ukraine Investment Framework program in September 2024, which offers subsidized loans and investment attraction.