Bucharest. At the forum “Rebuilding Ukraine: Security, Opportunities, Investments,” during a panel discussion, experts from the business and financial sectors stated that only a limited number of Romanian companies are currently ready to participate in large-scale projects to rebuild Ukraine, while access to financial instruments and risk-sharing mechanisms remains a key prerequisite for their more active involvement.
The panel was moderated by Cristina Chiriac, president of the National Confederation of Women Entrepreneurs of Romania (CONAF). The discussion was attended by Teodora Preotias, Director of European Funds Administration at the Romanian Bank for Investment and Development, Mihai Daraban, President of the Romanian Chamber of Commerce and Industry, and Viorel Manole, Executive Director of the Romanian Defense Industry Association PATROMIL.
The participants noted that the market for projects to rebuild Ukraine is currently largely structured by international financial institutions, which have high requirements for corporate governance, compliance, and risk management. According to them, a significant number of Romanian companies do not have sufficient operational capacity to act as main contractors and are forced to limit themselves to the role of subcontractors in supply chains.
“Participation in large projects requires access to credit lines, guarantees, and risk-sharing mechanisms, which are mostly administered by international financial institutions. Without this, many of our companies simply cannot enter into such contracts directly,” Preotasa noted during the discussion.
Experts emphasized the need to create an official Romanian-Ukrainian information platform that would consolidate data on available tenders, donor requirements, and opportunities for business participation. They also called for the development of a national strategy to support companies operating or planning to operate in the Ukrainian market in conditions of heightened political and security risks, including state guarantees and investment insurance instruments.
A separate discussion focused on the possibility of locating part of strategic production capacities in Romania or other safe neighboring countries to ensure continuity of production and logistics. According to Manole, such an approach could strengthen the contribution of national industry to the reconstruction of Ukraine while minimizing security risks for investors. He had previously publicly noted the potential of locating Ukrainian defense production in Romania as an element of bilateral cooperation.
Following the discussion, the participants concluded that Romanian companies have significant potential in Ukraine’s reconstruction projects, but its implementation depends on the coordination of state institutions, the availability of financial instruments, and close cooperation with international partners and financial organizations.
The forum “Rebuilding Ukraine: Security, Opportunities, Investments” is being held on December 11-12 in Bucharest under the auspices of the Romanian Ministry of Foreign Affairs and the Ukrainian Ministry of Foreign Affairs and is organized by the New Strategy Center. According to the organizers, more than 30 panel discussions and parallel sessions are planned over two days with the participation of representatives of governments, international organizations, the private sector, financial institutions, and experts from Europe, North America, and Asia. The topics of the panels cover security and defense, infrastructure, financing and investment, green energy, digitalization, human capital, and cross-border cooperation.
In January-November of this year, Ukraine’s metallurgical enterprises increased their revenues from ferrous metal exports by 3.72% compared to the same period last year, to $2 billion 979.392 million.
According to statistics released by the State Customs Service (SCS) on Friday, ferrous metals accounted for 8.08% of total export revenues during this period, compared to 7.48% in January-October 2024.
In November, export revenues amounted to $274.028 million, compared to $312.781 million in the previous month.
At the same time, Ukraine increased imports of similar products by 12.6% to $1 billion 542.449 million in January-November 2025. In November, products worth $107.877 million were imported.
In addition, in January-November 2025, Ukraine reduced exports of metal products by 1.96% to $853.934 million. In November, exports amounted to $79.789 million.
Imports of metal products during this period increased by 21.4% to $1 billion 166.113 million. In November, $119.551 million worth of these products were imported.
As reported, in 2024, Ukrainian metal companies increased their revenues from ferrous metal exports by 16.9% compared to the previous year, to $3 billion 96.343 million. At the same time, Ukraine increased imports of similar products by 13.1% over the past year, to $1 billion 478.814 million.
In 2023, Ukraine reduced its revenues from ferrous metal exports by 41.6% compared to 2022, to $2 billion 647.72 million. Ferrous metals accounted for 7.3% of total revenues from goods exports during this period, while in 2022, the share was 10.3%. At the same time, Ukraine increased imports of similar products by 37% in 2023, to $1 billion 307.05 million.
In addition, in 2023, Ukraine reduced exports of metal products by 16.6% compared to 2022, to $877.92 million. At the same time, imports of metal products increased by 40.3%, to $902.57 million.
At the Rebuilding Ukraine: Security, Opportunities, Investments forum in Bucharest, participants in a panel discussion on the role of the private sector in Ukraine’s reconstruction emphasized that attracting private capital is critical for the implementation of large-scale projects, but its participation is impossible without effective mechanisms for financing, insurance, and reducing investment risks.
The panel “Private Sector – A Key Actor in the Reconstruction of Ukraine. Financing and Insurance Instruments” was moderated by Victor Srayer, managing partner of Otto Broker (Romania). The discussion was joined by Volodymyr Tsabal, secretary of the Verkhovna Rada Committee on Budget, and Susan E. Walton, senior advisor on new markets – global risks and sustainability (USA) Susan E. Walton, CEO of BCR – Romanian Commercial Bank Sergiu Manea, Director of Legal and External Relations at Vodafone Romania Alexandra Olaru, and JBIC Regional Head for EMEA, Resident Executive Officer of the Japan Bank for International Cooperation Takayuki Sato.
Participants noted that the private sector, both Ukrainian and foreign, faces a double challenge. Ukrainian companies have limited access to debt financing due to high interest rates, war risks, and domestic capital market constraints. Foreign investors, in turn, are forced to take into account political and military risks, as well as regulatory peculiarities of working in Ukraine.
The main solutions identified were the use of blended financing instruments, the involvement of international financial organizations to cover part of the risks, and the creation of a guaranteed framework by the state and partners that makes projects “bankable” for commercial structures. “For private capital to enter the reconstruction process, investors need to clearly see which risks are assumed by the state and international financial institutions, and which are assumed by themselves. Without this, projects either do not start or remain at the conceptual level,” Manea noted.
Special attention was paid to the role of political and military risk insurance, as well as the importance of transparent information and local partner networks. According to the speakers, successful project implementation requires strategic coordination between government agencies, donors, and private businesses, particularly in terms of selecting priority projects, structuring agreements, and monitoring their implementation.
The panel participants also emphasized that reconstruction is impossible without reliable digital and energy infrastructure. The experience of neighboring countries that have undergone large-scale infrastructure programs can be used to implement practical solutions in Ukraine. “Private capital, combined with government support and good governance, can significantly accelerate post-war recovery. The state’s task is to create predictable rules of the game and an institutional environment that will make this possible,” Walton concluded.
Following the discussion, participants concluded that the private sector has significant potential in rebuilding Ukraine, but that realizing this potential depends on the availability of financial instruments, effective insurance protection mechanisms, and coordinated action between public and private actors.
The forum “Rebuilding Ukraine: Security, Opportunities, Investments” is being held on December 11-12 in Bucharest under the auspices of the Romanian Ministry of Foreign Affairs and the Ukrainian Ministry of Foreign Affairs and is organized by the New Strategy Center. According to the organizers, more than 30 panel discussions and parallel sessions are planned over two days with the participation of representatives of governments, international organizations, the private sector, financial institutions, and experts from Europe, North America, and Asia. The topics of the panels cover security and defense, infrastructure, financing and investment, green energy, digitalization, human capital, and cross-border cooperation.
The State Property Fund of Ukraine (SPF) has announced that on January 13, 2026, it will hold a repeat online auction for the privatization of 99.99% of the shares of one of the largest domestic chemical enterprises, Sumykhimprom, the agency’s press service reported.
The SPF set the starting price of the lot at UAH 1 billion 88.081 million (excluding VAT), which is 9.3% lower than the starting price at the auction on June 11, which did not take place due to the lack of participants.
The SPF reminded that Sumykhimprom is one of the key objects of large-scale privatization under its management.
“Sumykhimprom is a unique opportunity to acquire almost 100% of the shares of an operating, powerful chemical complex with a wide range of products, significant production areas for further modernization and development of export potential,” the SPF emphasized.
According to the terms of the tender, the new owner will have to maintain the company’s main activities and invest at least UAH 150 million in technical re-equipment and modernization of production. In addition, the winner will have to pay off wage and budget debts, as well as overdue accounts payable, within six months, except for debts to individuals and legal entities subject to sanctions and related parties, as well as creditors whose beneficiaries are citizens/residents of the Russian Federation and/or Belarus. The winner must comply with social guarantees for employees in accordance with the requirements of labor legislation and not allow their dismissal within six months after the acquisition of the asset.
Sumykhimprom is one of the largest domestic enterprises producing complex mineral fertilizers, titanium dioxide, sulfuric acid, and other types of inorganic chemicals. The company is one of the top three budget-generating enterprises in the city of Sumy and the region and produces more than 30 brands of NPK fertilizers with different nutrient ratios for different soil and climatic zones.
For more than 10 years, the plant was managed by a group of companies affiliated with entrepreneur Dmitry Firtash’s Group DF. In November 2023, the Commercial Court of Sumy Region granted the petition of the State Property Fund and the Ministry of Justice and closed the bankruptcy and reorganization proceedings against Sumykhimprom.
The SPF planned to sell the company to a private investor even before the full-scale war. However, privatization was delayed due to the position of minority shareholder Dmitry Firtash, who in 2010 acquired 0.005% of the company’s shares and control over its management. Sumykhimprom accumulated debts, which allowed the creation of a committee of creditors and the initiation of reorganization proceedings.
Since 2015, the SPF has been trying to stop the bankruptcy proceedings of the company through the courts, but was only able to do so in 2023, which unblocked the privatization.
In March 2022, the Russians shelled the company, leading to an ammonia leak. As a result, the plant was out of operation for a year and resumed work in the spring of 2023. As of June 2025, the front line was less than 30 km from Sumykhimprom.
According to information on the website, the company’s revenue in the first half of 2025 fell fourfold to UAH 36.1 million, while net losses decreased by 39.6% to UAH 189.1 million. In addition, as of mid-year, the company had UAH 0.30 billion in long-term debt and UAH 3.63 billion in current liabilities.
Strengthening cloud infrastructure and cybersecurity is one of the key areas for strengthening Ukraine’s “digital shield” in the context of the ongoing war, according to participants in the panel discussion “Rebuilding Smarter: Cloud Infrastructure and Cyber Security for a Strong Ukraine’s Digital Shield” at the “Rebuilding Ukraine: Security, Opportunities, Investments” forum in Bucharest.
The panel was moderated by Daniel Ionita, senior associate expert at the New Strategy Center (Romania). The discussion was joined by Oleg Haiduk, advisor on AI and innovation at the PARKOVY data center and former Deputy Minister of Defense of Ukraine for Digital Development; Volodymyr Luchenko, technical director at Kyivstar; Dragos Dima, senior cybersecurity advisor at the EU Mission for Civilian Security Sector Reform in Ukraine (EUAM Ukraine) and Olga Belyakova, co-head of technology, media, and communications practice at CMS Cameron McKenna LLC in Central and Eastern Europe.
According to the speakers, immediately after the start of the full-scale Russian invasion in February 2022, Ukraine transferred critical data arrays to data centers in the EU. By 2023, the strategy had been transformed towards the creation of sovereign national data centers with support for cross-border backup solutions. This transition was made possible by accelerated legislative changes, which by the end of the year provided a functional regulatory framework for the provision of cloud services.
In the field of cybersecurity, the key measures, according to the panel participants, are the widespread use of VPN solutions, the introduction of centralized access management (PAM), the use of multi-factor authentication, and the integration of WAF-class solutions to protect web resources. “This is not just about technical means, but about building a comprehensive architecture of trust – from the user to state registries and critical infrastructure,” said Haiduk.
The experts emphasized that Ukraine’s cyber resilience must be built in a cross-border format—through the integration of critical digital infrastructure into NATO and EU security systems, joint incident response protocols, and the exchange of threat data. “The more closely Ukraine’s digital infrastructure is integrated into the Euro-Atlantic security ecosystem, the more difficult it will be to isolate or paralyze it as a result of cyberattacks,” Belyakova emphasized.
Following the discussion, participants concluded that the development of national data centers, the expansion of cloud services, and the synchronization of cyber defense standards with NATO and the EU are necessary conditions not only for the security of the public sector, but also for the stable functioning of business and the implementation of reconstruction projects.
The forum “Rebuilding Ukraine: Security, Opportunities, Investments” is being held on December 11-12 in Bucharest under the auspices of the Romanian Ministry of Foreign Affairs and the Ukrainian Ministry of Foreign Affairs and is organized by the New Strategy Center. According to the organizers, more than 30 panel discussions and parallel sessions are planned over two days with the participation of representatives of governments, international organizations, the private sector, financial institutions, and experts from Europe, North America, and Asia. The topics of the panels cover security and defense, infrastructure, financing and investment, green energy, digitalization, human capital, and cross-border cooperation.
Bucharest, cloud infrastructure, digital shield, EU, INTEGRATION, NATO
TK-Domashniy Tekstil, part of the Textile-Contact (TK Group) group of companies, significantly increased its exports in December, in particular, it began working with customers from Sweden for the first time, according to the group’s owner, Alexander Sokolovsky.
“December is just beginning, but it has already become a record month for TK-Domashniy Tekstil’s exports: since the beginning of the month, we have shipped seven trucks of our own products to Europe! We have started working with customers from Sweden for the first time, with whom we have contracted our own digitally printed fabrics,” he wrote on Facebook.
It is specified that the designs were provided by the customer, and the Chernihiv Textile Combine (TK-DT Chernihiv) was fully responsible for the manufacture of fabrics and digital printing.
Products were also shipped to a new customer in Romania.
According to Sokolovsky, two trucks went to a new partner in the Baltics with a custom order for mattresses filled with 70% Ukrainian flax.
“The covers for these mattresses were sewn from natural cotton fabric (half-panels), which is also manufactured at our textile production facility,” added the owner of TK Group.
This month, the company made two large shipments to Lithuania—to the DEPO supermarket chain, where two trucks of finished home textile products were delivered, and the next batch is already being prepared.
“In addition, we made another shipment to our regular customer in Georgia, the Domino supermarket chain. This time, it was an expanded range of home textiles under our HomeLine brand with pre-New Year designs,” said Sokolovsky.
At the same time, he noted that currently, TC and many light industry enterprises are facing a problem where even regular customers have been afraid to place orders in Ukraine for the past two years.
“Although it is us who are taking the risk here, not them. Interestingly, this was not the case at the beginning of the full-scale invasion in 2022-2023. On the contrary, many Europeans tried to help Ukrainian entrepreneurs and, even understanding our capabilities, increased their orders despite logistical and other risks. Now, for some reason, it is much more difficult to break through, but we are doing everything possible and impossible,” Sokolovsky emphasized.
TK-Domashniy Tekstil is a leader in the production of fabrics, home textiles, and children’s products in Ukraine. Its asset portfolio includes one of the few finishing factories in Ukraine that produces cotton fabrics in Chernihiv, TK-DT Chernihiv. Its assets also include garment factories in Kyiv, Ternopil, Chernihiv, and Odesa; a shoe factory in Chyhyryn; a knitting factory; and a synthetic winterizer factory in Chernihiv.
The company’s products are imported to Denmark, Germany, Lithuania, Latvia, Georgia, and France.
TK Group was founded in 1995. It is currently a holding company that brings together the entire spectrum of textile industry services, from raw materials and threads to ready-made solutions for B2B, B2G, and B2C customers.
The group consists of 13 factories and employs about 1,500 people.
Since the start of the full-scale war, the group has invested about $14.5 million in development.
The founder of the group is Sokolovsky, chairman of the Light Industry Defense Procurement Committee at the Federation of Employers of Ukraine and a member of the Manifest 42 public movement.
