Analysis of the development of investment activities in Ukraine during martial law

Issue: № 10, 2025

Doi: https://doi.org/10.37634/efp.2025.10.7

Introduction. Today, when Ukraine is experiencing great human, material and financial losses due to a full-scale war, the prospects for the recovery and sustainable development of the national economy depend on the intensification of investment processes. Analyzing Ukraine's investment activity allows developing effective strategies for attracting capital, increasing Ukraine's financial stability and providing it with competitive advantages in a rapidly changing market environment. The purpose of the paper is to study the investment activities of Ukraine in the conditions of a full-scale war and, based on the analysis, to summarize the positive aspects and problems that Ukraine faces when conducting investment activities, as well as to identify measures to improve the investment space in Ukraine. Results. The paper provides a detailed analysis of investment activity in Ukraine during the war period during 2020-2024. The essence of investment and investment activity in general is determined. The main regulatory legal acts that regulate investment activity in Ukraine are indicated and based on them it is determined in what ways state support is provided for the implementation of investment projects. An analysis of the volume of capital investments in Ukraine is conducted. Investments in tangible and intangible assets are compared. The structure of capital investments is analyzed by sources of financing, by types of economic activity, and indicators of capital investments distributed by regions of Ukraine are also presented. Based on the analysis, positive aspects and problems of investment activity in Ukraine are identified, and measures are also identified to improve and increase the investment attractiveness of Ukraine. Conclusion. The war had a devastating impact on the investment process in Ukraine: in 2022, all indicators decreased sharply. However, the economy survived, and now investment activity is gradually recovering to pre-war levels. To increase efficiency, a comprehensive strategy is needed, including improving legislation, developing infrastructure, guarantees for investors, reforming the financial sector, and providing state support.

Keywords : investments, investment activity, investment attractiveness, capital investments, investment risk, assets

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