A new survey by the American Chamber of Commerce in Ukraine and Citi Ukraine shows that international and Ukrainian businesses remain strongly committed to the market despite more than four years of full-scale war.
According to the Doing Business in Wartime Ukraine survey, 92 percent of AmCham member companies continue to operate fully. Nearly 70 percent of respondents have worked in Ukraine for more than two decades, underlining long-term confidence rather than short-term opportunism.
Investment plans remain active
Financial results also point to resilience. Eighty seven percent of surveyed companies said their performance in the second quarter of 2026 was stable or better than in the same period of 2025. Compared with 2021, almost two thirds reported stable or improved results, although 37 percent still operate below the prewar level.
Investment plans remain mostly intact. Eighty seven percent of companies expect investment in Ukraine in 2026 to stay unchanged or increase compared with 2025. The main attraction is long-term growth potential, recovery demand and the path toward integration with the European market.
Human cost and operating risks
The war continues to affect companies directly. Forty seven percent reported damage to plants, warehouses, offices or other assets. Many have already restored damaged facilities fully or partly.
The human impact is also significant. Half of respondents reported wounded employees, 37 percent reported employees killed, and 87 percent have staff currently serving in the Armed Forces of Ukraine. Most companies are developing or already applying veteran reintegration measures.
The survey shows a market that remains risky, but not frozen. Businesses are still operating, protecting people, repairing assets and planning for reconstruction.
For investors, the central question is no longer whether Ukrainian business can function under pressure. It is how quickly legal predictability, security and recovery projects can turn resilience into broader growth.
