The largest business locations in Ukraine

Lviv has a diverse economic structure. The IT industry, which employs over 12,000 specialists, is particularly noteworthy. Around 15% of all IT specialists in Ukraine work in Lviv and the training of further experts is in full swing. While growth rates of up to 6.8 % are forecast for the entire Ukrainian economy up to 2025, the IT sector is expected to return to pre-war growth of around 20 % per year.

The agricultural sector and renewable energies around Lviv also have great potential for the future. The automotive industry also plays an important role: several international suppliers have settled directly in the city. Another growing sector is the production and trade of building materials, as there will be an increased focus on the reconstruction and modernisation of the city from 2025.

Odesa is strategically located, as the city is easily accessible for ships from Europe. This makes trade and goods transport particularly efficient. Before the Russian war of aggression, Odesa was home to around 150 innovative tech companies and over 10,500 traditional technology companies. Despite the challenges of the war, the number of companies has remained largely stable and Odesa is still considered one of Ukraine's leading technology centres. Just as Lviv is focussing on the IT landscape, this sector in particular could develop rapidly in Odesa.

Before the start of the Russian war of aggression, tourism was a major industry in Odesa. While the industry is currently severely affected, tourism is seen as a central pillar for the city's economic recovery and development in the long term.

Odesa's economic foundations also include shipbuilding, fishing, food production, metal processing and the operation of oil refineries. Thanks to its important harbour, which handles almost half of all Ukrainian imports and exports, Odesa offers a decisive locational advantage.

Kyiv is regarded as an undisputed economic and commercial centre and an important location for industry, science, education and culture. Due to its central role, the city has been particularly targeted in the Russian war of aggression. Nevertheless, Kyiv also offers opportunities for future economic development.

The manufacturer Knauf, for example, is already expanding its capacities and building a second plant in the western part of the country. It will complement the existing plant in Kyiv, which produces around 25 million square metres of plasterboard and 200,000 tonnes of drywall mixes every year.  Experts assume that demand will increase significantly after the war, while total Ukrainian production is only expected to cover around 90 per cent of the required volume. This opens up opportunities for investors to enable the reconstruction of the country - not only in Kyiv, but throughout the country.

However, Kyiv is not only dependent on individual sectors. Education and the cultural scene also play a central role for the city. After the war, a considerable need for investment is expected here, which could provide further economic impetus.

Before the war, Kharkiv was the second most important centre for science and education in Ukraine. The city has been heavily destroyed since the beginning of the Russian war of aggression. Nevertheless, some of the central infrastructure still exists and there are signs that Kharkiv could once again play an important role for the region in the long term - not least due to its historical function as a centre of education.

The city's importance is not limited to science and education, but also includes industry. Kharkiv is home to important companies in the food and electrical industries, the chemical industry and mechanical and vehicle engineering. This strong industrial base is closely linked to the city's excellent transport connections - motorways, airlines and railway lines meet here, making Kharkiv a strategically important hub.

Considerable investment will be required to repair the destruction and restore economic dynamism. Foreign investors in particular can play a central role in the reconstruction and modernisation of existing companies - as well as in the promotion of new start-ups. Initially, the building materials industry could be a particular focus, as it lays the foundations for the reconstruction of the city.

The city of Dnipro is part of the Dnepr economic region and is heavily industrialised. Mechanical engineering, metallurgy and high technology in particular play a key economic role. The space and rocket industries as well as the financial sector are also important industries.

Defence production is a key industry in Dnipro. The well-known defence company Piwdenmash is a leading manufacturer of missiles, but also produces trams, agricultural machinery and satellite technology. The company employs over 13,000 people. The city is also characterised by a diverse industrial landscape - from metal construction companies and tyre manufacturers to producers of wind turbines. Renewable energies in particular could be one of the most attractive areas for investment after the war, as Ukraine is actively promoting the expansion of sustainable energy sources.

In addition to industry, Dnipro is also an important service and financial centre. Numerous banks and insurance companies are based here. These sectors can play a key role in reconstruction. The property and construction sectors in particular offer potential. Participation in the revitalisation of the metallurgy sector is also being sought.