No one is interested in restoring the Ukrainian economy to the state it was in before the full-scale Russian aggression. We are talking about rebuilding a qualitatively new economy.

Anka Feldhusen, Ukraine’s Business Ombudsman and Germany’s Ambassador Extraordinary and Plenipotentiary to Ukraine in 2019–2023, made these remarks during a special discussion of the Kyiv Security Forum entitled ‘Ukraine’s Recovery: Talk or Action?’, dedicated to the outcomes of URC 2026.

“I think that this phrase – ‘to rebuild better than it was’ – is truly on everyone’s mind. I do not think that Ukraine or anyone else wants to restore the Ukrainian economy to the way it was before. I believe that the Ukrainian economy after the war will be radically different from what it was,” she noted.

Anka Feldhusen agreed with the assertion that investment can only be discussed once a lasting peace has been achieved, but emphasised the importance of preliminary work.

“We need to look at what we can already do, and I agree with Arseniy Yatsenyuk: only the end of the war will pave the way for a genuine influx of investors, but we can already lay the groundwork for this. And reconstruction based on the principle of ‘better than before’ must take place on a daily basis by creating the right conditions for investors – both technical and legal,” she said.

In the diplomat’s view, business needs a level playing field and predictability. “And only changes to the judicial system and law enforcement agencies can ensure this. We can work on this right now; Ukraine is already working on it,” emphasised the Business Ombudsman.

Anka Feldhusen also highlighted Ukraine’s significant progress in the development of renewable energy sources. “The energy sector and renewable energy sources have taken a huge step forward in recent years. I left Ukraine in 2023, having completed my term as Ambassador after the first harsh winter. But since then, Ukraine has lived through every subsequent winter, and renewable energy sources have become a much more important component in overcoming the shortfall,” she said.

The discussion also brought together the Chairman of the Kyiv Security Forum, Arseniy Yatsenyuk, Prime Minister of Ukraine in 2014–2016; Danylo Lubkivsky, a member of the Kyiv Security Forum’s Security Council and Deputy Minister of Foreign Affairs of Ukraine in 2014; Katarina Maternová, the European Union’s Ambassador to Ukraine; and Nataliia Shapoval, Head of the KSE Institute and Vice-President for Political Research at the Kyiv School of Economics. The discussion took place as part of the new project ‘Kyiv Security Forum: Deep Strike’ – a series of expert discussions on pressing issues and key trends in the fields of security, the economy and Ukraine’s foreign policy. The project aims to provide an in-depth analysis of the most significant challenges shaping the country’s future.

The Kyiv Security Forum (KSF) is an annual international event launched in 2007 on the initiative of the Arseniy Yatsenyuk Open Ukraine Foundation.