Finnish companies that end up operating in post-war Ukraine stand to help increase the country's exports by up to two billion euros annually, according to EK, the Confederation of Finnish Industries.
The business lobby's Pro-Ukraine project, set to launch in September, aims to get 200 Finnish companies engaged in the war-torn country's reconstruction.
EK's director, Petri Vuorio thinks the two-billion-euro, post-war export goal could be reached within two years once the situation in Ukraine stabilises.
In contrast, Finland's exports to Ukraine amounted to around 260 million euros in 2023, according to the group.
This week, Finnish Prime Minister Petteri Orpo (NCP) attended the Ukraine Recovery Conference, the fourth iteration of the meeting.
In a national statement, Orpo noted a joint Finnish-Ukrainian initiative to build civil defence shelters in Ukraine.
"Ukraine aims to build more than 10,000 new civil defence shelters over the next ten years. We welcome all interested partners to join the coalition and to support the project through the European Union’s Ukraine Facility," Orpo said, according to a government release.
Vuorio: Planning should start now
About a dozen Finnish companies and organisations, including the City of Helsinki, also attended the reconstruction conference.
The meeting drew representatives of countries supporting Ukraine, including international organisations, financial institutions, as well as business, regional, and organisational leaders.
According to EK's Vuorio, it is vital to discuss reconstruction plans now, as the war continues.
"The reconstruction of Ukraine is a central part of the defensive struggle that keeps the wheels of society turning," he said.
According to World Bank estimates, Ukraine will need more than half a trillion euros for its post-war reconstruction in the coming years.
According to EK, Ukraine will particularly need assistance with the construction of energy infrastructure, industrial plants, hospitals and housing.
Vuorio said there is demand in Ukraine for Finnish companies in several sectors.
"Energy technologies are one such industry, as well as in digitalisation, cybersecurity, the defence industry and construction technology. And as an example, civil protection expertise and related technologies [are also needed]," he said.
Finnish firms have already made investments in Ukraine in the past year, including the construction sector firm Peikko Group and fast food chain Hesburger.
Other construction companies, as well as IT sector firms, are there too, according to Vuorio.
"Finland is known in Ukraine as a reliable supplier of high tech, and this expertise is valued," he said.
Meanwhile, hundreds of Danish companies have stepped in to take part in reconstruction efforts as well, Vuorio noted.
"We should follow their example," he said.
But, according to Vuorio, many companies are concerned about Ukraine's security situation, as well as issues concerning corruption, which was also an issue before Russia's full-scale invasion.
However, Vuorio said he thinks these matters can be managed through good faith and operational methods.
