Austria's Minister of Economy cheers: Opportunities in Ukraine reorganization!

Austria's Minister of Economy cheers: Opportunities in Ukraine reorganization!

Wien, Österreich - Minister of Economics Wolfgang Hattmannsdorfer draws a very positive record of the Ukraine resignation conference recently held in Rome. In view of the ongoing fighting in Ukraine, the reconstruction and economic opportunities have become crucial for Austrian companies. Before the war, Austria was the sixth largest foreign investor in Ukraine. The conference served to set impulses and create economic advantages for Austrian companies, while the female peace remains uncertain.

The minister accompanied a delegation of leading companies such as Voith Hydro, Vienna Energie, Primetals Technologies, Delta AG and Austrian Airlines. These companies could make a significant contribution to stabilizing the Ukrainian economy. Hattmannsdorfer emphasized that the estimated financial requirement for the reconstruction of Ukraine is $ 524 billion. The Austrian companies focus on the areas of infrastructure, energy, residential construction and raw materials.

growing export potential

Austria's exports to Ukraine rose by remarkable 17 percent in the first quarter of 2025. In 2024, an increase in exports by 8.1 percent to around 666 million euros had already been recorded. Hattmannsdorfer emphasized the competencies of domestic companies in construction, mechanical engineering, energy and environmental technology as well as digital solutions and services. Planned subsidies for reconstruction projects that include export guarantees and an expansion of the opportunities to expand should make access to these projects easier.

To increase export guarantees, changes have also been announced: State protection for export transactions with private customers in Ukraine is to be increased from 90 to 95 percent. This will also simplify access to business with public clients, whereby Ukrainian banks can be accepted as a reliable partner.

strategic partnerships for the future

Another goal of the conference was to build up specific partnerships in the areas of energy, infrastructure and raw materials. Hattmannsdorfer spoke to Italian ministers, including Foreign Minister Antonio Tajani, to discuss common economic interests, especially with regard to the expansion of liquid gas (LNG) to ensure energy supply in Europe.

The Austrian support for the so -called south corridor for the energy supply of Europe was emphasized, whereby a joint planning conference with Germany is planned for autumn 2025 in Vienna. These strategic partnerships not only stabilize the Ukrainian economy, but also strengthen the competitiveness of Austria and Europe as a whole.

The damage caused by the war in Ukraine are enormous and were estimated by the "Kyiv School of Economics" in September 2022 at 127 billion euros. The need for international support for reconstruction is therefore more urgent than ever. Austrian companies are required in many areas to advance the reconstruction, including green energy, agricultural economy and the restoration of the infrastructure.

The current reconstruction activities started at the end of 2022, such as the repair of residential buildings and the restoration of health care, show that despite the challenges, progress can be made. An agency for the development of the infrastructure was launched in February 2023 by the Ukrainian government to coordinate these projects.