Former Google CEO bets on Ukraine with investments in property and drones - NYT
Illustrative photo: Google logo (Getty Images)
Global business is increasingly viewing Ukraine not only as a country in need of assistance, but also as a promising investment destination, according to The New York Times.
West is changing its approach
International business sentiment toward Ukraine has shifted noticeably. The New York Times journalist Andrew Kramer highlighted the change while reflecting on the Ukraine Recovery Conference held in Gdańsk, Poland.
According to Kramer, discussions at the event increasingly focused not on the scale of international aid, but on the prospects for private investment. Business leaders are beginning to view Ukraine as one of Europe's largest future markets, particularly as the country moves closer to membership in the European Union.
"Any such investment is a wager that Ukraine will deny Russia its broad ambitions in the conflict and remain an independent state," he wrote.
Where investments are already flowing
One example cited by the newspaper is financing for Naftogaz (the largest state-owned oil and gas company in Ukraine - ed.). The US Export-Import Bank has opened a $300 million credit line for the company to purchase American construction equipment and services for the oil and gas sector.
The outlet also notes that Ukraine holds one of Europe's largest proven natural gas reserves, estimated to be worth around $300 billion.
Investors are already entering the market
According to Kramer, the willingness of businesses to invest in Ukraine reflects a broader shift in how the country is perceived by international investors.
As an example, he points to former Google CEO Eric Schmidt and his wife, Wendy Schmidt, who invested in Kyiv commercial real estate by acquiring stakes in funds that own shopping centers managed by a Ukrainian investment company.
According to Forbes, the value of these investments ranges between $55 million and $70 million.
In addition, Eric Schmidt has invested in Ukrainian companies involved in drone production.
Energy remains a key focus
The New York Times also reports that the European Bank for Reconstruction and Development, the largest institutional investor in Ukraine, has announced plans to mobilize more than $570 million in new investments.
As Russia continues to target coal-fired power generation facilities, the bank is preparing to finance carbon-free energy projects.
At the same time, the article notes that while companies that operated in Ukraine before the full-scale invasion — including McDonald's and Nestlé — continue to expand their presence, the inflow of new private investment remains relatively limited.
Earlier, DTEK presented a White Paper outlining proposals for the recovery and modernization of Ukraine's energy sector. The document also includes recommendations for expanding private-sector participation in the industry and attracting new investment into the country's energy market.
