Business news from Ukraine

Business news from Ukraine

Finnish company Happy Nordic Living plans to build prefabricated wood structure factory and residential neighborhood in Ukraine

The Finnish company Happy Nordic Living Oy plans to implement two projects in the Kyiv region—to build a factory for the production of prefabricated wooden structures and to create a pilot residential complex for residents of the region who have been affected by Russian attacks, as well as internally displaced persons (IDPs), according to a Wednesday report on the website of the Kyiv Regional Military Administration.

Natalia Gavatyuk, Deputy Head of the Kyiv Regional State Administration, held a meeting with Timo Mikkonen, CEO of Happy Nordic Living Oy, and his team, during which the parties discussed the prospects for implementing the investment project and the next steps for its launch.

According to the report, the plant is expected to create approximately 400 jobs: “Currently, sites in the region’s industrial parks are being considered for the production facility. This approach will allow for the necessary infrastructure to be prepared more quickly and for the project to move forward.”

At the same time, the company is considering the possibility of creating a pilot housing complex in the Kyiv region for residents of the region who have been affected by Russian attacks, as well as internally displaced persons (IDPs).

During the meeting, the parties agreed on mechanisms for further trilateral cooperation between the Kyiv Regional State Administration, Happy Nordic Living Oy, and consulting partner UVT GROUP to prepare a roadmap for the project.

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Finland to Allocate EUR28.5 Million for the Reconstruction of Ukraine’s Energy Sector

Finland is supporting the reconstruction of Ukraine’s war-torn energy sector by allocating 28.5 million euros from its development cooperation funds.

According to a press release from the Finnish Ministry of Foreign Affairs, the total cost of the power plant technology is 46.5 million euros, with Ukraine financing the remainder of the project on its own.
Wärtsilä Finland Oy was selected as the supplier. The power plants will be manufactured in Vaasa, which will also contribute to job creation, the development of expertise, and exports in Finland.

The Ukrainian state-owned energy company Ukrnafta is purchasing these power plants to ensure energy production in the country. Reliable energy production is of vital importance, especially during the winter months, when Russian attacks on energy infrastructure complicate daily life in Ukraine.
According to Minister of Foreign Trade and Development Ville Tavio, this project combines Finland’s support for Ukraine with the advantages of Finnish technology.

“Finland possesses world-class expertise in the energy sector, which can be of great help to Ukraine in its recovery efforts. I am pleased that Finnish technology and Finnish workers are contributing to strengthening the security of Ukraine’s energy supply. At the same time, this project promotes Finnish exports and employment,” Minister Tavio noted.

Finland’s funding for the project is provided through the Finnish-Ukrainian Investment Fund (FUIF). The FUIF’s goal is to support public investments in Ukraine using Finnish technology, expertise, and services. Finland’s financial resources will be used to cover the interest expenses and principal amount of the investment loan that Ukraine will receive. Finvera is providing a 100% export guarantee for this loan.

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Ukrainians’ attitude toward Finland remains one of most favorable among European countries

Finland is among the group of countries that consistently enjoy a high level of trust among Ukrainians. According to a survey conducted in March 2026 by Active Group in collaboration with the Experts Club information and analytical center, 76.2% of respondents have a positive attitude toward this country, indicating its consistently positive image in Ukrainian society. At the same time, the share of negative assessments is minimal—only about 1.1%, which is effectively within the margin of error.

The structure of positive perceptions is evenly distributed: 38.0% of respondents expressed a “completely positive” attitude, while another 38.2% described it as “mostly positive.” This balance indicates not only general approval but also deep trust in Finland as a partner. At the same time, 21.4% of respondents hold a neutral position, which may be explained by the country’s relatively limited presence in Ukraine’s everyday information landscape.

Negative assessments remain marginal: 0.9% of respondents chose the “mostly negative” option, and only 0.2% selected “completely negative.” The share of those who could not decide on an answer is 1.2%. This pattern indicates the absence of systemic factors that could shape a negative image of Finland in Ukraine.

Overall, Finland is perceived as a country with a high level of institutional trust, stability, and consistent policies. Its image in Ukrainian society is shaped not only by its political stance but also by associations with effective governance, a social model, and high living standards.

The high level of positive attitude also reflects a broader trend: Northern European countries are perceived by Ukrainians as reliable partners who demonstrate consistency in their policies and support for Ukraine. Against this backdrop, Finland is consolidating its position as one of the countries with the most stable positive image, without significant fluctuations in perception.

“Ukrainians quite clearly distinguish between countries based on the level of trust and predictability of their policies. Where there is consistency and a clear position, a stable positive attitude is formed. That is why countries like Finland maintain high ratings regardless of short-term fluctuations in public opinion,” noted Oleksandr Pozniy, director of the research company Active Group.

According to a study conducted by the Experts Club information and analytical center based on data from the State Customs Service, Finland ranks 43rd in total trade volume of goods with Ukraine, with a figure of $392.9 million. At the same time, imports from Finland are nearly seven times higher than Ukrainian exports, resulting in a trade deficit of $293.5 million.

The study was presented at the Interfax-Ukraine press center; the video can be viewed on the agency’s YouTube channel. The full version of the study can be found at this link on the Experts Club analytical center’s website.

 

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Finland Plans to Amend Its Citizenship Law

The Finnish government has submitted a bill to parliament that would introduce a mandatory citizenship test for applicants for a Finnish passport. The test is intended to assess knowledge of Finnish society, its structure, and key principles, and if approved by parliament, the new rules are scheduled to take effect in early 2027.

As clarified by the Finnish Ministry of the Interior, the exam will be part of a broader reform of the citizenship law, aimed at tightening naturalization requirements and placing greater emphasis on integration, employment, and adherence to the norms of Finnish society. The test will be available in Finnish or Swedish.

The reform continues the current government’s phased approach to tightening migration policy. Finland had previously increased requirements regarding length of residence, income, and compliance with the law for citizenship applicants, and has now decided to add a separate test of civic knowledge.

This discussion is of particular importance for Finland’s labor market and migration environment, as the country remains significantly more dependent on external population inflows than it was just a few years ago. According to Statistics Finland, the country’s population stood at 5,652,881 by the end of 2025, and population growth in recent years has been largely driven by migration. In 2025, 50,060 people arrived in Finland, and net migration stood at 34,852 people, fully offsetting the natural population decline.

Authorities are also noting an increase in the number of new citizens. According to the Finnish Immigration Service, 14,689 people received Finnish citizenship in 2025—a record high. Of these, 13,483 received citizenship upon application, and 1,206 through the notification procedure.

According to official data from Statistics Finland, 5.65 million people resided in Finland at the end of 2025, and the number of residents of foreign origin and foreign citizens continued to grow; specific databases from Statistics Finland provide a breakdown by citizenship and country of origin, and also show that the growth in recent years was largely due to the influx from Ukraine. Official releases from Statistics Finland explicitly noted that in 2023, the largest numbers of people arrived in Finland from Ukraine, Russia, Sri Lanka, and India.

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Finland has allocated €20 mln in humanitarian aid to Ukraine

Finland has announced that it will allocate €72 million in humanitarian aid, of which €20 million will go to Ukraine, according to the Finnish government’s website.

“A total of €20 million in humanitarian aid will be allocated to Ukraine from the budget item ‘Support for Ukraine’. The aid will be provided through UN humanitarian organizations and the International Committee of the Red Cross (ICRC),” the statement said.

The organizations will, in particular, respond to people’s winter needs and heating requirements by distributing, among other things, heaters, fuel, clothing, and cash assistance, as well as helping to repair houses, water, electricity, and heating systems damaged during the attacks.

Finland will allocate EUR6 million to the UN Refugee Agency (UNHCR), EUR6 million to the World Food Programme (WFP), EUR 5 million to the ICRC, and EUR 3 million to the Ukraine Assistance Basket Fund of the UN Office for the Coordination of Humanitarian Affairs (OCHA), from which funds will be distributed at the local level according to needs.

“Russian attacks are making it much more difficult for people living in the midst of war to survive in winter conditions in Ukraine. Supporting access to energy and heat is particularly important now, as the need for humanitarian support is acute. Our increased assistance is helping people with basic needs. Finland supports Ukraine,” said Minister for Foreign Trade and Development Ville Tavio.

In its humanitarian aid decisions for the beginning of the year, Finland, in addition to Ukraine, emphasizes the main areas of conflict and refugee crises in Africa, as well as the humanitarian situation in the Middle East.

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Finland saw record increase in number of people who obtained citizenship in 2025

In 2025, 14,124 foreigners permanently residing in Finland obtained citizenship, which is a new record, according to preliminary data from the Tilastokeskus statistical service.

According to this data, the largest number of Finnish citizenships in 2025 were granted to citizens of Iraq (1,960), followed by citizens of the Russian Federation (1,491) and citizens of Syria (1,282).

Tilastokeskus provides figures for the top three countries in its publication, but does not disclose the number of Ukrainians who obtained citizenship or their place in the overall ranking. A more detailed breakdown by citizenship in the official statistics is usually published later as a separate data set.

According to Tilastokeskus, the largest group of arrivals in Finland in 2025 were citizens of Ukraine (8,388), followed by citizens of the Philippines (2,701) and Sri Lanka (2,435).

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