Latvian roofers and South Korean trade specialists. Fuel cell manufacturers from Denmark and timber producers from Austria. Businesses are positioning themselves for a possible multibillion-dollar gold rush: rebuilding Ukraine once the war is over.
People move through Katedralna Square, where the Archcathedral Basilica of the Assumption of the Blessed Virgin Mary is boarded up to protect from possible shelling, in Lviv, Ukraine, Feb. 11, 2023.
Zelenskyy and his allies want to use the rebuilding to stitch Ukraine’s infrastructure seamlessly into the rest of Europe. More than 300 companies from 22 countries signed up for a Rebuild Ukraine trade exhibition and conference this week in Warsaw, Poland. The gathering is just the latest in a dizzying series of in-person and virtual meetings. Last month, at the World Economic Forum in Davos, Switzerland, a standing-room-only crowd packed Ukraine House to discuss investment opportunities.
What Ukrainian and foreign companies wanted to know was: Who will decide on the contracts, and how do they apply? Ukraine has made clear there will be rewards for early investors when it comes to postwar reconstruction. But that opportunity carries risk. Things had been going better for the company since last summer as Ukraine pushed back Russian advances. By October, new orders for Danfoss’ products were rolling in, and Berestyan restored Danfoss’ distribution center in Kyiv. Then Russia started dropping bombs en masse. Power and water were widely cut off, forcing Ukraine — and businesses — to swing back to dealing with emergencies.
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