92% of American Chamber of Commerce member companies in Ukraine continue to operate at full capacity after more than four years of full-scale war, according to the results of the “Doing Business in Wartime Ukraine” survey conducted by AmCham Ukraine in partnership with Citi Ukraine.
According to the study, nearly 70% of the companies that participated in the survey have been operating in Ukraine for more than 20 years. AmCham believes this demonstrates the resilience of these businesses and their long-term commitment to the Ukrainian market.
Despite the risks posed by the war, 87% of companies reported that their financial results in the second quarter of 2026 remained the same or improved compared to the second quarter of 2025. Only 13% of respondents reported a decline in performance.
Compared to 2021, before the war, nearly two-thirds of companies—63%—reported that their financial results remained stable or improved. At the same time, 37% of companies are still operating below pre-war levels.
Investment plans also remain stable: 87% of companies stated that their investments in Ukraine in 2026 will remain unchanged or increase compared to 2025. Of these, 54% plan to maintain their investment levels, while 33% plan to increase them.
The war continues to directly impact business. 47% of companies reported that their factories, production facilities, warehouses, offices, or other sites were damaged during the war. Among the affected companies, 46% have already fully restored their damaged assets, while 39% have completed partial repairs.
Half of the surveyed companies reported cases of employees being injured as a result of the war, and 37% reported employee fatalities. At the same time, 87% of companies have employees who are currently serving in the Armed Forces of Ukraine, and 60% are already hiring veterans.
71% of companies have already implemented, are developing, or have begun to roll out support and reintegration programs for veterans following demobilization. Specifically, 24% of companies have comprehensive policies for reintegrating veterans into the workforce, 20% are developing such policies, and 27% have already introduced initial support measures.
The main challenges for businesses remain employee safety (82%), issues related to mobilization and reserving employees (71%), and the threat of Russian missile attacks on critical infrastructure and business assets (63%). Among other challenges, companies cited the health and mental well-being of employees—50%—as well as attracting and retaining qualified personnel—44%.
At the same time, most companies do not plan to fill staffing shortages on a large scale with foreign workers. 63% of respondents stated that they are not considering hiring non-Ukrainian employees to address staffing issues, 25% are undecided, and only 12% are actively considering this option.
According to the business community, Ukraine will remain a stable but unpredictable market in 2026. This view is shared by 45% of respondents. Another 21% view Ukraine as one of the most promising markets for future growth in Europe, 18% consider it primarily a high-risk market focused on survival, and 16% see it as a market preparing for recovery.
Fifty percent of companies expect Ukraine’s economic recovery to become clearly visible 2–3 years after the end of the war. Another 18% believe that a gradual recovery is already underway, 16% see 2026–2027 as a possible turning point toward growth, and 16% believe that the recovery has not yet begun.
Respondents identified defense and military tech (78%), infrastructure and construction (71%), energy and distributed generation (50%), and agriculture and food processing (45%) as the key sectors for post-war recovery.
Companies consider Ukraine’s long-term growth potential to be the main factor driving investment attractiveness. 76% of respondents cited the vast opportunities for reconstruction and post-war economic growth as the primary driver of investment, 49% cited Ukraine’s path toward EU accession and integration into the European market, and 39% cited the potential of the defense and military tech sector.
Among the main barriers to business participation in reconstruction projects, respondents cited the security of reconstruction sites (56%), a lack of information and transparency regarding projects (55%), and an unclear legal and tender framework (55%).
The business community also outlined priorities for the government for 2026. Eighty percent of companies cited support for the rule of law, the fight against corruption, and genuine judicial reform as the top priority. Fifty-five percent pointed to the need to strengthen national security, defense, and demining efforts, while 44% emphasized the need for predictability and stability in tax legislation.
The “Doing Business in Wartime Ukraine” survey was conducted by AmCham Ukraine and Citi Ukraine from May 21 to June 16, 2026. It included 112 executives from AmCham member companies across various industries; 69% of respondents hold CEO positions.
Source: American Chamber of Commerce in Ukraine, Citi Ukraine
The business associations and representatives of the professional community who have signed this statement consistently support the development of a lobbying framework in Ukraine based on the principles of transparency, ethics, and good faith. We advocate for the implementation of best international practices and the establishment of an open dialogue between business and the state.
At the same time, we express concern regarding the initiative to develop a professional standard “Lobbying Professional (Lobbyist),” which provides for the introduction of new mandatory requirements for lobbying entities, in particular the completion of specialized training and additional qualification procedures, thereby creating artificial barriers to engaging in such activities.
The institution of lobbying in Ukraine is only now taking shape following the adoption of the Law of Ukraine “On Lobbying” No. 3606-IX (the Law). The Law has established a comprehensive and adequate regulatory framework that complies with international standards (OECD, EU, GRECO) and was developed and adopted, in particular, as part of Ukraine’s commitments in the process of European integration to ensure transparency in the interaction between representatives of public authorities and stakeholders in the context of lawmaking. This approach, borrowed in particular from European Union practice, does not require the introduction of mandatory professional standards or certification for lobbyists, focusing instead on transparency in the use of lobbying tools.
At the same time, it is important to emphasize that current legislation already contains the necessary safeguards and control mechanisms. In particular, the obligation to register in the Transparency Registry ensures that lobbying entities operate within the legal framework, comply with established rules, reporting requirements, and ethical standards provided for by law.
Thus, the key task at this stage is the effective implementation of existing legislation, rather than the introduction of new regulatory instruments, the necessity of which is not provided for by law and which distort the essence of the approaches established by the current law.
Consequently, the professional community does not support the adoption of a “lobbyist” professional standard, as it is inappropriate in the current context of the development of the lobbying institution, is not provided for by the Law, and contradicts the regulatory concept enshrined therein. Moreover, it creates additional barriers for businesses and public associations, carries risks of restricting competition and potentially monopolizing the market, and effectively introduces new regulatory requirements beyond the scope of the law, which contradicts the principles of deregulation.
Given this, the united business community considers the development of a professional standard and the introduction of additional requirements to be unacceptable and inconsistent with the current stage of development of the lobbying market in Ukraine, as well as undermining its foundations.
We remain open to dialogue and cooperation on the formation of an effective, transparent, and balanced lobbying regulatory system in Ukraine, based on the principles of openness, good faith, and equal access.
This statement is open for signature by other lobbying entities that support equal and independent operating conditions in the lobbying sector.
Signatories:
The American Chamber of Commerce (AmCham) believes that the introduction of non-price criteria for the procurement of medicines at public expense should be as transparent as possible.
“The chamber’s member companies support the need to introduce non-price criteria. The lowest price does not always ensure the proper quality of equipment, as a result of which the patient’s needs are not met, and the state ends up spending more money on the healthcare system. It is also important that the process of introducing and applying non-price criteria be as transparent as possible,” AmCham told Interfax-Ukraine, commenting on the results of a roundtable discussion on “Non-price criteria in public procurement of medical devices: European practices and opportunities for Ukraine,” which the chamber recently held with the participation of international experts and the leadership of Ukrainian regulatory authorities.
AmCham recalled that a revision of Directive 2014/24/EU of the European Parliament and of the Council of February 26, 2014, is planned for 2026, including in terms of price orientation in procurement.
“The main criterion for procurement continues to be the lowest price, but, unfortunately, in practice, this does not ensure timely delivery and delivery in full, quality, and sufficient service life of the medical device. That is why, in particular, EU countries and the UK use non-price criteria or value-oriented procurement,” the chamber notes.
In turn, Oleg Kletz, Director General of the Ministry of Health, noted during the event that “price is an important indicator, but it is not synonymous with quality or uninterrupted supply.”
“We are moving towards a more comprehensive evaluation model, where, along with price, proven quality, ability to fulfill the contract, and clinical effectiveness are taken into account. That is why we are engaged in an open dialogue with the market and the expert community to develop an approach that will ensure competition and transparency and, most importantly, the uninterrupted availability of high-quality free medicines and medical devices for Ukrainians,” he said.
Members of the American Chamber of Commerce in Ukraine (AmCham Ukraine) have elected a new Board of Directors for 2026, the Chamber announced. The election results were published on the Chamber’s website.
Olena Kosharna (Horizon Capital) was elected Chair of the Board of Directors. The co-chairs are Alexander McWorter (Citi), Arvid Türkner (EBRD, Ukraine and Moldova), and Serhiy Martynchuk (Cisco). Andriy Tsymbal (KPMG) was appointed treasurer, and Serhiy Chorny (Baker McKenzie) was appointed legal advisor.
The Board of Directors also includes Yulia Badritdinova (McDonald’s in Ukraine, the Czech Republic, and Slovakia), Vasyl Bovdilov (Unilever), Natalia Chervona (Shield AI), Oleg Haidakyn (Carlsberg), Mykhailo Kharenko (Sayenko Kharenko), Olga Kosinova (Procter & Gamble), Taras Panasenko (Aurora multi-market chain), Petro Rondiak (Winner Group), Tetiana Stavytska (Coca-Cola), and Vasile Varvora (Cargill).
The AmCham Ukraine Board of Directors is elected annually in a two-stage process consisting of candidate nomination and electronic voting, with the newly elected members announced at the Chamber’s annual general meeting.
The American Chamber of Commerce in Ukraine has been operating since 1992 and brings together more than 600 member companies—American, international, and Ukrainian. According to the Chamber’s reports, member companies have invested more than $50 billion in Ukraine.
On Friday, October 31, from 9:30 a.m. to 1:00 p.m., AmCham Ukraine, together with our member company Sayenko Kharenko, invites you to join us for Halloween Blood Donor Day. Details of the location will be sent to registered participants the day before the event. The venue has shelter.
Join us (costumes are welcome but not required) and be part of a life-saving mission. Every drop of blood can help save up to three lives—after all, real heroes don’t need capes, just courage and compassion.
The event is open to everyone, so invite your friends, colleagues, and loved ones. Choose a convenient time and register in advance via DonorUA.
Let’s make this Halloween terrifyingly good and life-giving!
Follow all rules and recommendations to prepare for blood donation.
Don’t forget to bring your passport and Ukrainian citizen identification code. Citizens of other countries can also be donors if they have a residence permit in Ukraine and an identity document.
Ukrainian President Volodymyr Zelenskyy plans to hold a meeting of his team with representatives of the business community on Friday, June 27, to discuss pressing issues.
As it became known to the agency “Interfax-Ukraine”, the Union of Ukrainian Entrepreneurs (UEU), the American Chamber of Commerce in Ukraine (AmCham) are invited to the meeting, but the international business community Board is not invited.
“I, as the founder of the Board and as chairman of the Coalition of Business Communities for the Modernization of Ukraine, was not invited. In a strange way,” said Andriy Dligach, founder of Advanter Group and the Board community, in a comment to the agency.
