By the beginning of 2023, Austrian businesses had invested about €1.62B in Ukraine.

About 95% of enterprises that worked in Ukraine before the full-scale war continued their operations and even expanded, said the Ambassador of Austria to Ukraine, Arad Benkö.

“Moreover, there are many new potential investors interested in the Ukrainian market who struggle to commit due to the absence of investment guarantees,” Benkö explained.

Currently, there are almost 200 locations belonging to Austrian enterprises in Ukraine. Twenty-five of them are industrial, employing 20,000 Ukrainians.

The ambassador noted that among the largest Austrian investors are Kronospan, which, over the past 15 years, has invested almost €1B, and Kyiv Cardboard and Paper Mill, with investments of about €300M over the past 20 years.

As a result of the full-scale invasion, investments from about 200 Austrian companies in Ukraine were affected, mainly small and medium-sized enterprises with an annual turnover of about €3-€5M.