Despite the war, Canadian companies are investing tens of millions of dollars in new projects in Ukraine.

Vice-President of the Canadian-Ukrainian Trade Association Yuriy Kryvoshey said, in 2023 Canada’s foreign direct investment in the Ukrainian economy amounted to $61.8M.

Fairfax Financial Holdings Limited, a Canadian financial conglomerate, is among the most active Canadian investors in the agricultural sector. It is one of the largest investors of the Ukrainian agro-industrial holding Astarta. The company also invested in the Ovostar Union (egg production) business, increasing its share to 18% during 2023.

Fairfax’s market capitalization is more than $24B, and its portfolio includes more than $90B in assets.

As well, the Canadian company Aecon Construction Global Services signed an agreement with Ukrhydroenergo on participation in the reconstruction of the Kakhovka HPP and the construction of the Kaniv HPP.

Also, Black Iron Inc. plans billion-dollar investments in the exploration and mining of iron ore in Ukraine, the Cameco Corporation for uranium mining, and Roshel Smart Armored Vehicles.