The dynamics of the indicator “Is now a favorable time for investment” in Ukraine indicate a certain stability despite the war. According to the results of a study conducted by the Institute of Economic Research, 42% of companies believe that the current situation is acceptable for investing in new equipment, while 57% consider it unfavorable.
This is reported by Finway
The assessment for 2025 reflects a quite similar picture to last year: 11% of respondents were unable to express their opinion on investments, indicating significant long-term uncertainty (this figure was 25% in 2024).
Investment Activity of Enterprises in 2024
In 2024, 45% of surveyed companies made investments, which is a higher figure compared to 2021, which was affected by the COVID-19 pandemic, but still lower than in 2017–2020. The study also showed that the likelihood of investments increases with the size of the enterprise: 12% of micro-enterprises, 37% of small enterprises, 52% of medium enterprises, and 64% of large companies.
Among the main sectors where enterprises invested, the food industry (54%) and machine engineering (52%) stand out. The survey also revealed business plans for the future: 35% of respondents intend to invest in 2025.
Where Businesses Invested in 2024
According to the survey, most respondents in 2024 invested in:
- repairing or replacing worn-out or outdated equipment (67%);
- planned repairs of premises (32%);
- expanding the product range (28%);
- staff training and improving product design, branding, and marketing (25% each);
- addressing the consequences of the war, including 24% who repaired or replaced equipment, and 15% who repaired premises.
Among the main obstacles to investment in 2025, respondents noted:
- unpredictability of the economic situation in Ukraine (40%);
- insufficient profit (36%);
- danger to personnel or company property due to the war (35%);
- unstable political situation (27%);
- concerns about the emergence or increase of debts (21%);
- expensive borrowed capital (19%);
- insufficient demand (19%);
- unpredictability of changes in legislation (18%);
- competition from domestic companies (14%);
- lack of insurance for military risks (11%).
Only 3% of companies did not mention any obstacles to investment in 2025.