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reserves in February decreased by 3.8%, or by $1.47B - to $37.052B, partially offset by revenues from international partners."
5.3 FDI
During the war, 43 global companies have invested $1.7B in Ukraine.International investments in Ukraine increased from $0.5B in 2022 to $1.2B in 2023, said the head of the KSE Institute, Nataliya Shapoval, during the Ukraine Business Compact (UBC) Workshop. According to her, during the full-scale invasion, 43 global companies have invested in Ukraine, including Bayer ($65M), Carlsberg ($40M), and CEMARK, which is part of the CRH group of companies ($30M). Another 12 companies have announced investments in Ukraine, particularly Baykar, which produces Bayraktar TB2 drones. In September 2023, the Turkish company announced it was ready to invest $100M in a factory, service center, and headquarters in Kyiv. Construction of the plant has already begun and is expected to last 12 months. Also, last year, CRH, which is the leading producer of building materials in the world, signed a mandate letter with the EBRD regarding the joint acquisition of the assets belonging to an Italian company, Buzzi, in Ukraine. In general, foreign companies have focused their investment in IT, defense, and agribusiness.
Lithuanian companies are modernizing Ukraine’s logistics infrastructure and will open a single logistics center this year. Representatives from Lithuanian railway operators - the transport and cargo companies LTG Cargo and BGS Rail Holdings - are expanding their presence in Ukraine. The companies are involved in logistics infrastructure modernization projects at the state level, Ambassador of Lithuania to Ukraine Valdemaras Sarapinas said. The ambassador noted that Lithuanian railway representatives are striving to
47 UKRAINE Country Report April 2024 www.intellinews.com