Massimo Andolina, President Europe Region at Philip Morris International: 'Now is the time to support Ukraine'
Massimo Andolina, President Europe Region at Philip Morris International (pmi.com)
Now the best way for any company to show its true commitment to Ukraine is to invest in the country, says Massimo Andolina, President Europe Region at Philip Morris International, in an interview with Forbes.
"It's a difficult moment for Ukraine because it is still at war. And while I'm sure that many companies are not thinking about investing in a country at war, we believe this is the time to invest in Ukraine and show commitment to its economic recovery," Andolina says.
According to him, the decision on new investments was not easy for the company.
"As you know, we already have a big production facility in the Kharkiv region that we have closed temporarily since the first day of the war to protect our people. Explaining to a company shareholder why we want to invest capital, during the war, to build a new facility is not an easy feat. And yet we did it. And we remain convinced that this is the strongest way for any company to show its true commitment to Ukraine," he says.
Also, in his opinion, the example of Philip Morris, which decided to invest about $30 million in a new factory in the Lviv region last year, is a signal to other businesses that now is the time to support Ukraine and create new jobs.
In June last year, Philip Morris International announced a $30 million investment in starting production in the Lviv region. The new factory is planned to open in the second quarter of 2024.
250 people will work at the new Lviv factory. All cigarette brands that the company commercializes in Ukraine will be produced there.
