Businesses in Ukraine have lost faith in the war’s end in 2025 but remain optimistic about their prospects.


According to an AmCham survey, 70% of surveyed Ukrainian companies do not expect a ceasefire or significant de-escalation of the war in 2025. At the same time, over the next three years 53% of respondents plan organic growth within their current operations, 37% aim to expand through capital investment, and 2% are considering acquiring businesses in Ukraine.
Regarding financial expectations for the end of 2025 compared to pre-war levels (2021), 68% of companies expect either growth or stability, while 32% foresee a decline.
Companies also highlighted key factors that make Ukraine attractive to existing and potential investors. These include: available investment opportunities on the path to the greatest economic recovery since World War II (notably through the newly created US-Ukrainian Reconstruction Investment Fund) – 64%, market size and the EU accession process – 55%, Ukraine’s status as a global agricultural leader – 53%, and the development of a strong defense industry – 45%.