Ukraine’s economy has been battered by Russia’s full-scale invasion, including the brutal recent campaign on civilian energy infrastructure. Even so, the Ukrainian economy has remained remarkably resilient despite the violence and upheaval wrought by Moscow. While the war rages on, Kyiv and Washington agree that Ukraine’s reconstruction and renewal should begin now. A successful reconstruction process will require continued emphasis on anti-corruption, strong, evenly applied rule of law, and independent judicial and regulatory institutions.

Ukraine’s recovery will require major investment from its Western partners and investment from international companies. Successfully executed, reconstruction would put Ukrainians to work, provide opportunities for shared growth, and strengthen the country’s economic resilience. To realize these aims, Kyiv must maintain its efforts to increase transparency, combat corruption, strengthen the rule of law, and create an environment conducive to foreign aid and international investment.

How should Ukraine and its Western partners prioritize reforms as reconstruction begins to take shape? What actions can Kyiv take to attract foreign investment and stimulate equitable economic development? What unique challenges do businesses operating in Ukraine face during a time of war?