The Ukraine-Philippines Business Forum, attended by more than 65 representatives of companies, government agencies, financial institutions, law firms, and business associations from both countries, took place on July 23 in Makati City, Philippines.
The event opened with video messages from Ukrainian Foreign Minister Andriy Sybiga and a speech by Philippine Deputy Minister of Trade and Industry Seferino Rodolfo.
Participants discussed opportunities for developing bilateral cooperation in the agri-food sector, information technology, digital services, the food industry, creative industries, as well as in the defense sector and the field of dual-use technologies.
During the forum, the business environment in Ukraine and the Philippines was presented, along with financial and legal tools for foreign companies, the results of Ukraine’s digital transformation, and the capabilities of Ukraine’s defense-industrial complex.
Representatives from the Makati Business Club, the Nordic Chamber of Commerce of the Philippines, the European Chamber of Commerce of the Philippines, and the Philippine Chamber of Commerce and Industry discussed market access, attracting investment, and developing direct contacts between companies with entrepreneurs. These organizations, together with the Ukrainian Embassy, served as partners for the forum.
The event concluded with bilateral B2B matchmaking sessions, during which Ukrainian and Philippine companies were able to discuss specific projects and areas for further cooperation.
The forum was the centerpiece of the Ukrainian business mission to the Philippines, scheduled for July 23 through August 1, 2026. Its goal is to expand the presence of Ukrainian companies in the Philippine market and in Southeast Asia as a whole.
In the first half of 2026, Nestlé in Ukraine increased its sales in the country by 19.3% in value (in hryvnia) and by 10% in volume, to 56,000 metric tons, while the entire Ukrainian FMCG market in the categories where the company operates grew by 15% in value and 6% in volume during this period, according to Roman Yanovich, CEO of Nestlé in Ukraine and Moldova.
“This is a signal to invest,” he said, commenting on these results at a briefing in Kyiv on Thursday, and explained that overall, the Nestlé Group increased its global sales by 3.6% in the first half of this year, meaning that Ukraine is a growth driver for the company.
According to him, in the first half of 2026, the company invested 5 billion UAH in its operations in Ukraine, of which 200 million UAH went toward developing factories in Ukraine and 4.8 billion UAH toward developing product categories.
“Having invested 5 billion hryvnia in the first half of the year, we plan to invest an amount comparable to last year’s—10 billion hryvnia—by the end of 2026 to ramp up production and maintain the growth momentum we’ve achieved,” said the CEO.
He clarified that investments in factory development are expected to total 1 billion hryvnia based on this year’s results.
According to the CEO, in the confectionery category, sales growth for all players in the Ukrainian market in January–June of this year was 18% in hryvnia and 6% in volume; for prepared foods, 12% and 2%, respectively; for instant coffee, 16% and 4%; infant formula—20% and 7%, other children’s foods—20% and 10%, and animal feed—20% and 10%.
According to him, the market for coffee capsules is growing particularly rapidly—by 30% in value and 16% in volume. This market is small but has the potential to double or triple in size, Yanovich noted.
The CEO noted that Nestlé currently holds approximately half of the Ukrainian ketchup market under the “Torchin” brand and the cocoa market under the Nesquik brand, as well as one-third of the sauce market under the “Torchin” brand.
He added that as part of global campaigns, products under the Felix and ProPlan brands in the pet food category and KitKat in the confectionery category are currently being actively promoted in Ukraine, while local campaigns focus on the “Svitloch,” “Torchin,” and “Mivina” brands, as well as Dolce Gusto coffee capsules and Nesquik.
In addition, during the briefing, company representatives announced plans to expand this year’s culinary product line—which already includes more than 100 items—by approximately 20%. The “Asian line” is growing at the fastest rate—20–25%—while the category of instant noodles in cups is seeing triple-digit growth.
According to Yanovich, there is potential for improvement in the “Svitloch” brand and the coffee business, where the company aims to move up from second place to first, a position currently held by Jacobs.
The CEO stated that due to the increase in enemy shelling of warehouses, logistics is currently the top priority; therefore, the company has developed a plan to deliver goods directly to the supermarket chain without involving its distribution centers in the event of a critical situation.
He cited a labor shortage as another problem, which forced one of the company’s facilities to raise salaries by 30%. At the same time, Yanovych noted that although the company had considered options for hiring foreign workers, it is still trying to recruit staff specifically from among Ukrainians.
Yanovich also reported that in the first half of 2026, charitable donations totaled over 120 million hryvnia, and since the start of the full-scale war, the company has provided charitable aid totaling over 2 billion hryvnia.
Nestlé began operations in Ukraine in 1994 with the opening of a representative office. In 1998, it acquired a controlling stake in CJSC “Lviv Confectionery Factory ‘Svitloch,’” and since 2018, it has owned 100% of the company’s shares. In May 2003, Nestlé Ukraine LLC was founded in Kyiv, and by the end of that year, Nestlé had acquired 100% of the shares in Volyn Holding.
In 2010, Nestlé SA acquired Technocom LLC in Kharkiv, a manufacturer of instant foods under the “Mivina” brand. In 2012, Nestlé Business Service (NBS Europe) was established in Lviv; it is one of Nestlé’s seven service centers worldwide and provides support services to Nestlé divisions in more than 40 countries.
During the war, Nestlé invested EUR43 million in the construction of its fourth factory in Ukraine—in Smolygiv, Volyn Oblast—for the production of pasta, which opened in April 2025, and plans to increase its investment in the facility to EUR70 million by the end of 2027.
Nestlé’s business in Ukraine encompasses the following segments: coffee and beverages, confectionery, prepared foods (cold sauces, seasonings, soups, instant foods), infant and specialized nutrition, ready-to-eat breakfasts, and pet food.
FMCG, INVESTMENT, NESTLE, SALES, UKRAINE
The House of Representatives of Antigua and Barbuda has approved amendments to the citizenship-by-investment program that call for an increase in the mandatory period of physical presence in the country, regular independent audits, and stricter oversight of intermediaries.
The main change will be an increase in the minimum period of physical presence in the country for new citizens from five to 30 days. These days may be spent in Antigua and Barbuda cumulatively over the first five calendar years after obtaining citizenship, rather than annually. The requirement also applies to family members included in the application.
Until now, an investment citizenship holder could lose their citizenship if they did not spend at least five days in the country during the first five years. The amendments replace this requirement with 30 days.
The changes also provide for an annual independent financial audit of the Citizenship by Investment Unit (CIU) and an operational audit every two years. The regulator will have the authority to set common standards for the five Eastern Caribbean states offering investment citizenship, vet agents, and revoke the licenses of intermediaries that do not meet the established requirements. ECCIRA is expected to begin operations in September 2026.
The reform is taking place amid increasing pressure from the European Union. In a letter dated June 25, 2026, the European Commission proposed that Antigua and Barbuda gradually phase out its citizenship-by-investment program by June 1, 2028. Brussels also demanded that individuals subject to EU sanctions be excluded from the program and that background checks on applicants of all nationalities be strengthened.
The government of Antigua and Barbuda emphasizes that it does not intend to shut down the program without securing comparable sources of revenue. Authorities cite revenue from the investment citizenship program as a vital component of non-tax revenue, which funds infrastructure, schools, healthcare facilities, and post-disaster recovery efforts.
The latest detailed statistics published by the CIU cover January–June 2024. During this period, 739 applications were received. The official report takes into account the country of birth of the principal applicant, so these figures cannot be directly equated with the number of passports issued. A single application may also include a spouse, children, and other dependents.
The largest number of applications in the first half of 2024 came from natives of:
China—90 applications, or 12.18%;
the United States—81, or 10.96%;
Nigeria—67, or 9.07%;
Lebanon—50, or 6.77%;
Turkey—44, or 5.95%;
Pakistan—32, or 4.33%;
the United Kingdom—25, or 3.38%;
Iraq – 22, or 2.98%.
Over the past six months, 19 applications were received from Ukrainian nationals, accounting for 2.57% of the total. The same number of applications were submitted by Egyptian nationals. India, Canada, and Morocco each accounted for 21 applications.
From the program’s launch through June 30, 2024, Antigua and Barbuda received 5,203 applications. Chinese nationals accounted for 1,117 applications, or 21.47%; Nigerians—496; the U.S. – 347, Lebanon – 342, Russia – 222, and Syria – 208. However, no new applications from natives of Russia and Belarus were registered in the first half of 2024.
The program has been in effect since 2013 and offers several participation options. The minimum non-refundable contribution to the National Development Fund is $230,000; investment in approved real estate starts at $300,000; and direct investment in a business starts at $1.5 million. Another option involves a contribution of at least $260,000 to the University of the West Indies Campus Fund. Government fees and background check costs are paid separately.
Extending the mandatory stay to 30 days does not change the minimum investment thresholds but increases participants’ actual expenses for airfare and accommodation. At the same time, regular audits and unified regional oversight are intended to increase the program’s transparency and help Caribbean nations maintain visa-free travel with European countries.
Antigua and Barbuda, Caribbean region, CITIZENSHIP, INVESTMENT, MIGRATION
Iraq has estimated the total value of contracts and agreements concluded with American energy companies during Prime Minister Ali al-Zaidi’s July visit to the United States at approximately $200 billion.
Iraqi Oil Minister Basim Mohammed Khudair announced this on July 21. According to him, the projects are expected to increase the country’s production capacity, expand associated gas processing and bring American technologies into the oil and gas industry. The minister estimated Iraq’s current production capacity at 4.8 million barrels of oil per day.
The announced package includes seven key arrangements related to field development, oil and gas asset management, energy infrastructure modernisation and the search for new export routes.
At the same time, the $200 billion estimate does not yet mean that the entire amount has already been formalised as binding capital investment. The package includes contracts, framework agreements, memoranda and preliminary arrangements. The final volume of investment will depend on the results of technical studies, commercial negotiations, the agreement of financing terms and the receipt of regulatory approvals.
Chevron expands its presence in Iraq
The American company Chevron has become one of the central participants in the new energy cooperation.
The company is negotiating its participation in the operation of the West Qurna-2 field, one of Iraq’s largest oil assets, as well as the development of the Nasiriyah field. The parties previously signed preliminary documents concerning Nasiriyah, the Balad field and several exploration blocks in Dhi Qar Province.
During a meeting with Chevron’s management, the Iraqi prime minister called on the company to accelerate investment in oil and gas production and the construction of oil refineries, petrochemical plants, pipelines and storage facilities.
The Iraqi side stated that it was prepared to allocate land plots and expedite administrative approvals for major energy projects. Chevron, in turn, expressed interest in fields in the south of the country and in developing infrastructure for the storage and export of raw materials.
The agreements concerning West Qurna-2 and Nasiriyah remain predominantly preliminary. Before final contracts are concluded, Chevron must examine the projects’ geological, technical and commercial data.
Halliburton to manage the Bin Umar and Sindbad fields
The American oilfield services company Halliburton has received a contract from the state-owned Basra Oil Company for the comprehensive management of the development of the Bin Umar and Sindbad oil and gas fields in southern Iraq.
The contract provides for integrated field management services, as well as support for the design, procurement and construction of the necessary infrastructure.
The involvement of Halliburton is expected to help Iraq increase oil and gas recovery from existing assets, introduce modern reservoir management methods and reduce technological losses.
Another agreement has been concluded with the American company HKN Energy for the development of the Himrin field in the north of the country. The Iraqi government approved the project as part of a broader programme to attract American companies to the oil and gas and electric power sectors.
Iraq seeks alternative oil export routes
One of Baghdad’s strategic objectives is to reduce its dependence on routes through the Persian Gulf and the Strait of Hormuz.
Recent regional crises have demonstrated the vulnerability of Iraq, most of whose oil exports pass through southern terminals. Shipping restrictions and export disruptions have a direct impact on production, budget revenues and the state’s ability to finance infrastructure projects.
Iraq is considering expanding supplies through the Turkish port of Ceyhan and creating a route to the Mediterranean Sea through Syria. The Iraqi and Syrian sides previously discussed transporting oil to the port of Baniyas, including the possibility of restoring existing infrastructure or constructing a new pipeline system.
Chevron is also exploring the possibility of participating in export pipeline and storage projects. If implemented, they would connect the oil fields of southern and northern Iraq with alternative maritime terminals and reduce the country’s dependence on the Strait of Hormuz.
However, such projects will require interstate agreements, large-scale investment and security guarantees. The restoration of pipelines through Syria is complicated by the condition of the infrastructure and the need to ensure the protection of the route along its entire length.
Baghdad turns towards American capital
The current arrangements reflect a broader shift in Iraq’s energy policy towards the United States.
In recent years, Chinese companies have secured a significant share of the country’s new oil and gas projects. Major assets have also been managed by Russian and European operators.
Ali al-Zaidi’s government has announced its intention to give priority to reputable American companies in the energy, telecommunications and technology sectors. To facilitate their entry into the market, the authorities have begun reviewing certain administrative requirements and strengthening the security of oil facilities.
For Iraq, such cooperation is expected to provide access to investment, technologies, oilfield services equipment and political support from Washington. For American companies, the country is attractive because of its large oil reserves, underdeveloped gas sector and need to modernise its infrastructure.
Production growth constrained by OPEC+ agreements
Iraq intends to increase its oil production capacity, but actual production volumes depend on more than investment alone.
The country participates in OPEC+ agreements and is required to comply with the established restrictions. In July, the group’s countries again reaffirmed their commitment to the current arrangements, including the need to compensate for previously exceeding production quotas.
The Iraqi Ministry of Oil previously announced plans to increase production capacity to more than 6 million barrels per day by 2028–2029. Achieving this goal will require the development of new fields, the rehabilitation of existing assets, the expansion of export infrastructure and agreement on a higher quota within OPEC+.
The development of the gas industry remains a separate priority. Iraq is seeking to expand the processing of associated gas, which continues to be flared at fields, and reduce the electric power sector’s dependence on imported fuel.
The authorities plan to increase the utilisation of produced gas to the highest possible level and virtually eliminate its flaring by the end of the decade.
Implementation of agreements will take several years
The package of projects with American companies could become one of the largest investment shifts in the history of Iraq’s oil and gas industry.
However, a significant share of the arrangements remains at a preliminary stage. To proceed to full implementation, the parties must determine the commercial terms, allocation of risks, investment payback periods and security guarantees.
OPEC+ quotas, bureaucratic procedures, the condition of pipeline infrastructure and regional instability remain additional constraints.
If even part of the announced projects is implemented, Iraq will be able to increase oil and gas production, expand processing, reduce its dependence on a single export route and strengthen its position as one of the largest energy producers in the Middle East.
ENERGY, INVESTMENT, IRAQ, OIL, USA
Nibulon Joint Venture LLC invested $22.5 million in the modernization and digitization of agricultural production between 2023 and 2025, including securing EUR12.8 million in long-term financing from the Danish Export and Investment Fund (EIFO), the company’s press service reported.
As part of the modernization, the company upgraded its fleet of agricultural machinery, implemented digital solutions for managing production processes, and adopted a new soil cultivation model, which reduced the number of passes by machinery across the field—a practice that leads to soil compaction—and also lowered fuel consumption and production costs.
The company reported that as a result of the modernization, fuel consumption decreased by 10 liters per hectare, the use of crop protection products was reduced by up to 50%, seed usage was reduced by 10–20%, and nitrogen use efficiency (NUE) increased by 30%.
The report notes that the implemented measures led to a 50% increase in gross yield and a 65% increase in agricultural machinery productivity.
According to published data, the agricultural division’s EBITDA in 2025 amounted to $329/ha. At the same time, approximately 40% of the agricultural holding’s land bank is located in southern Ukraine, which has been hardest hit by climate change following the destruction of the Kakhovka Hydroelectric Power Plant. The financial results also include $4.6 million in losses from sunflower crop failures due to drought.
The company also reported that, as part of its efforts to adapt to climate change, it is reviewing its crop rotation structure and testing alternative drought-resistant crops, including sorghum, chickpeas, lentils, and flax.
In addition, during the 2025/26 marketing year, the agricultural holding launched a pilot project for contract farming of corn and sunflowers on an area of approximately 100 hectares, and is also working with seed material for other specialty crops.
It is also noted that the company is developing an irrigation model for the southern regions of Ukraine, which involves irrigating approximately 1,000 hectares of agricultural land.
Currently, Nibulon’s agricultural division cultivates 52,000 hectares of land, comprises 14 branches across four clusters, and operates 41 units of farm equipment.
Prior to the war, Nibulon Joint Venture LLC cultivated 82,000 hectares of land across 12 regions of Ukraine and exported agricultural products to more than 70 countries worldwide. In 2021, the grain trader exported 5.64 million metric tons of agricultural products—the highest volume in its history. After the war began, the company was forced to relocate its headquarters from Mykolaiv to Kyiv. In addition to 23 grain elevator complexes, Nibulon has its own road and rail transport capabilities, as well as a fleet built at its own shipyard. During wartime, this fleet continues to provide river transport services.
The company is also actively developing its own humanitarian demining unit to restore safety on leased lands and assist Ukraine’s agricultural sector. Nibulon is a certified mine action operator.
AGRICULTURAL PRODUCTION, EIFO, INVESTMENT, MODERNIZATION, NIBULON
The first phase of Ukraine’s largest potato processing plant, located in the “Biosens” industrial park (Cherkasy region) with a capacity of 25,000 metric tons per year, is scheduled to begin operations in late 2026 or early 2027, according to Dmytro Kysilevsky, deputy chairman of the parliamentary committee on economic development.
“At the Biosens Industrial Park, installation of the steel structures for the walls and roof of the first phase of Ukraine’s largest potato processing plant has begun. The investment in the first phase of the plant, which will produce potato flour, amounts to 960 million hryvnias,” he wrote on Facebook on Tuesday.
Kysilevsky added that the construction of the 6,500-square-meter production building is utilizing weldless joining technology for high-strength steel components, and the production equipment has already been delivered.
“Ukraine currently imports 100% of its potato flour needs, which is brought in from abroad for use in the baking, confectionery, and meat-processing industries, as well as in the production of sauces and instant food mixes. But starting next year, our country will not only meet its own needs but will also become an exporter of potato flour,” the MP noted.
He emphasized that, with the help of state funding, work is currently underway at the “Biosens” industrial park to expand the access road and connect to the gas networks. In December 2025, the government allocated 24.7 million UAH for these projects on a 50:50 co-financing basis.
Kysilevsky noted that a mandatory condition for receiving state funding is the construction of at least 5,000 square meters of industrial space within the industrial park and the involvement of at least two participants.
“Biosens is currently preparing an additional application for further state funding to continue developing the industrial park’s engineering and transportation infrastructure,” he added.
According to Kysilevsky, construction of the plant’s second phase is scheduled for 2027—a French fries production facility with a capacity of 60,000–150,000 metric tons per year, requiring an investment of 2.5 billion hryvnias.
“McDonald’s and KFC currently import french fries for their Ukrainian chains due to the lack of specialized cultivation and processing technologies in our country. But such technologies will be available very soon,” he emphasized.
The plant’s third phase, which will also produce French fries, will require approximately 3 billion UAH in investment. In addition, the IP’s development plan calls for the construction of a 20,000-metric-ton potato storage complex, a facility for processing potato peels into protein and starch, and a greenhouse complex equipped with a cogeneration plant.
To accommodate the future facilities, the industrial park has already initiated the expansion of its existing area from 29.6 hectares to 40 hectares. Another 60-hectare plot located nearby is being considered as a reserve.
As previously reported, the “Biosens” Industrial Park was registered in August 2025 for a term of 30 years. The initiative to create the park came from the local company “Fitolan,” LLC, which is part of the “Mais” group of companies that is building a plant within the “Biosens” Industrial Park.
The agricultural company “Mais” is one of the largest producers of hybrid corn, hybrid sunflower, and soybean seeds in Ukraine and is the main asset of the “Mais” group of companies.
The co-owners of “APK Mais” LLC are Serhiy Tereshchuk, a member of the Ukrainian Parliament in the 4th and 6th convocations, and his wife, Maryna Cherednychenko; “Field-Group” is responsible for potato preservation and processing within the group.
