WKÖ survey shows:

Domestic companies mostly continue to operate in Ukraine

The majority of Austrian companies that were already active in Ukraine before the war are still there - despite declining orders and other challenges (symbolic image).

(Bild: stockbusters - stock.adobe.com)

Most domestic companies that were already active in Ukraine before the war are still there. This is the result of a survey conducted by the Austrian Federal Economic Chamber (WKÖ). Declining orders and the safety of employees are perceived as difficulties.

However, most companies are located in western and central Ukraine and are therefore less affected by direct hostilities, the WKÖ reported. Instead, however, there are many indirect effects such as a lack of planning security. Representatives from 34 domestic companies took part in the survey. The majority of them are planning to remain in Ukraine this year.

More than two thirds of the companies (68%) also expect to be able to maintain the number of their employees. However, they cautioned that employees could be called up to the army, which would make processes more difficult. Compared to the previous year, respondents perceive power and internet outages as a result of the missile attacks as less of a challenge. "After two years, companies have obviously learned to deal with the difficult situation," said Georg Weingartner, business delegate in Kiev.

Participation in reconstruction
The Austrian companies that are in Ukraine also see opportunities to participate in the reconstruction of the country. This could be primarily in the construction and infrastructure sector, but also in the energy sector - especially renewable energy -, the health sector, food or services. Last year, economic growth in the war-torn country amounted to 5.5 percent. The growth forecast for this year is three percent.

Exports also rose again after a decline in 2022. According to the Chamber of Commerce, this mainly includes medical and pharmaceutical products as well as equipment deliveries.