In Davos, Switzerland, on Jan 23, Ukrainian officials sought private investors to help rebuild the country while Ukraine's president and U.S. President Donald Trump called for peace and ending the three-year war.
During the World Economic Forum's annual meeting, Oleksiy Sobolev, the first deputy economy minister, outlined a $500 billion reconstruction plan to attract Western investors through privatizations. He emphasized that "the private sector" would lead these investments and highlighted ongoing successful smaller privatizations, expressing the intention to privatize larger companies at the opportune moment.
President Trump reiterated his commitment to resolving the conflict, stating, Our efforts to secure a peace settlement between Russia and Ukraine are now, hopefully underway. Emphasizing economic interests, a sign at the Ukraine House in Davos read Your country first. Win with us.
Kurt Volker, a former U.S. ambassador to NATO, proposed viewing Ukraine as pivotal in addressing widespread issues, stressing its potential in cleaner energy production and reliable weaponry supply in Europe's increasing defense landscape. President Volodymyr Zelenskiy noted Ukraine's domestic arms production capacity and collaborations with Western defense firms.
The Ukrainian energy sector, resilient despite Russian attacks, shifted towards cleaner energy sources. Danish company Vestas partnered with DTEK, Ukraine's major private energy firm, to expand a wind farm. The Vestas CEO emphasized the importance of public funding in kickstarting reconstruction efforts, asserting that "The recovery starts before a peace deal."