Stability and Development: Investment Attractiveness of the Frontline Regions

Despite the ongoing war, Ukraine continues to demonstrate examples of economic resilience, entrepreneurial courage and investment attractiveness — even in regions located in close proximity to the front line.   

In order to debunk common myths and to present real success stories, the European Business Association’s Ukraine Recovery Committee, in partnership with Global Business for Ukraine, organised an event entitled “Fact vs Fiction: Business Realities in Wartime Ukraine” event, which was co-sponsored by BDO in Ukraine. The event took place on the eve of URC 2025, which was held in Rome, Italy. 


The event provided a valuable opportunity for constructive dialogue between Ukrainian entrepreneurs, representatives of state institutions and international partners. The participants exchanged views on the current state of the business environment in Ukraine, the key challenges faced by businesses during wartime, and the key factors contributing to the sustainability of companies. Particular emphasis was placed on tools that help businesses adapt to new conditions, as well as factors that can strengthen investor confidence and stimulate the investment flows necessary for the country’s economic recovery. 

During the meeting, a white paper entitled “Myths vs. Reality: Doing Business in Ukraine During Wartime” was presented. It was developed by the European Business Association's Committee on Ukraine's Recovery, in cooperation with regional offices in Dnipro, Kharkiv, and Odesa. This document is the result of discussions between business representatives and authorities — both central and regional — during a recent expert round table in Dnipro. Its purpose is to refute common stereotypes about doing business in frontline regions and provide an objective picture of the real conditions in which businesses operate today. 

Vira Savchenko, the CEO of BDO in Ukraine, was among the event’s keynote speakers. She shared her practical experience of conducting business in a war economy. During her speech, she emphasised that Ukraine remains open for business even during the war, and that many companies have not only adapted to the new realities but are also actively preparing for expansion. Vira also refuted the widespread myth about the “uninvestability” of frontline regions, highlighting their hidden potential, growing business activity and active support from the state. Her participation was an important contribution to the discussion about the true resilience of Ukrainian business, as well as the opportunities that are opening up for investors who are ready to work in Ukraine right now. 

Other participants shared their observations and practical conclusions about conducting business in wartime. Some expressed the view that investors are looking for more than just news from the front line — they need a deeper understanding of the country’s economic dynamics. The role of business tourism as a tool for building trust and inspiration was also emphasised, and the strategic advantage for global players of entering the Ukrainian market early was cited. 

In today’s global context, frontline regions offer both challenges and opportunities. It is vital to consider not only the risks, but also to demonstrate real examples of how business works, develops and creates new opportunities, even in difficult conditions. The frontline regions are not vacant spaces, but active economic zones where entrepreneurship, investment and recovery can synergise.  

BDO in Ukraine is proud to support businesses that are not afraid of challenges. We believe in the power of entrepreneurship as a driver of recovery and development.