Denmark has signed first investment contracts in Ukraine, ambassador says

The first contracts on Danish investments in Ukraine have already been signed, but the details will remain under wraps for now for security reasons.

Source: Ole Egberg Mikkelsen, the Ambassador of the Kingdom of Denmark to Ukraine, in an interview with Ekonomichna Pravda.

Quote: "Denmark is already moving from grants to investments. We understand that there are possible risks here, but we cannot wait until the war is over. Foreign investment in Ukraine is a critical component of reconstruction, and Denmark is making serious efforts to facilitate business in Ukraine, not least in Mykolaiv Oblast."

Details: In particular, the Danish Ukraine Fund, launched this year, has significant components covering the private sector. Denmark may issue loans and investment guarantees to some Danish and Ukrainian businesses.

"Regarding many specific projects, it is not possible to divulge details for security reasons, as they are located in territories that have been profoundly affected by the war and the threats there are significant. But I can tell you that contracts have been signed," the ambassador added.

Mikkelsen added that many Danish corporations already operate in Ukraine and have managed to maintain and even expand their operations during the war.

Notably, Ukrainian energy operator DTEK launched a new wind farm this year, Tylihulska in Mykolaiv Oblast. The Danish company Vestas provided wind turbines so Ukraine could continue its green energy transition.

Carlsberg invested €40 million in Ukraine this year, increasing production by 80%, which is perhaps the largest foreign investment in Ukraine this year, Mikkelsen adds.

"Many other Danish companies, large and small, are expressing an interest in establishing themselves in Ukraine, which we clearly saw at the recent ReBuild Ukraine conference in Warsaw. Denmark and the embassy are ready to provide support and advice to those who are considering such a step," he concluded.

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