This transcript was automatically generated and may contain errors.

Why is Ukraine central to European security and economic resilience,

and what makes Ukraine today one of the most strategic investment destinations in Europe?

And how can the European Union help you realize your investment projects? Dear Deputy Prime Minister Yaya Diarra. Dear Mr.

Minister Sobolev, dear Alexei, dear Madam Minister Jenkoskadia Marta, dear members of the business community,

when we met last year here, I said now is a good time to invest in Ukraine.

Because despite all uncertainties,

one thing has and has always been certain Ukraine would become much more deeply integrated into the European economy. This process is already in motion.

More and more it is becoming clear how central Ukraine is to European defense and increasingly to our continent's economic security.

One only needs to look to the Gulf where Ukrainians are right now putting to use their drone innovation and battlefield software.

These are capabilities no other military can match.

Ukrainians are increasingly building an arsenal of democracy.

Ukraine is becoming an indispensable partner in Europe's efforts to rebuild our defense industries and armed forces.

These efforts need to be guided by Ukrainians experience.

At the same time, Ukraine is emerging as a security provider for Europe's economy.

Let me just give you two examples critical raw materials and dual use products.

Critical raw materials are central to modern economies.

Relying on a single supplier for such vital assets opens the door to potential blackmail.

Ukraine is one of the places in Europe with abundance of some of these materials.

Our goal is to integrate Ukraine into pan-European value chains for critical raw materials.

We have had an EU-Ukraine strategic partnership on critical raw materials since 2021.

Now, together with the Ukrainian government,

we have stepped up support to European companies to build a pipeline of investments and projects in this critical area.

Dual use products are another area that is critical for economic security.

This is why the Ukraine Investment Framework now also covers industries whose products have both military and civilian applications,

and once again this is about linking up companies from the EU and from Ukraine in pan-European value chains of strategic industries.

We are giving particular priority to investment projects in areas such as drone production,

navigation and communication systems, aeronautics and space, and precision metallurgy. Dual use holds enormous business opportunities.

This sector is estimated to be worth €5.4 billion and comprises approximately 3400 companies active in Ukraine.

This is a call to action to the many representatives of the private sector here in this room today.

Many of your peers have already been in touch with us.

Last year we launched 2 calls for investment projects and received over 200 proposals.

We are now working with financing partners to identify funding solutions for priority projects.

Many of these financing partners are also here today. Thank you for being with us.

I hope you will all take advantage of our business to business matchmaking area to find partners and investors for your projects.

We remain open to new business proposals and you can count on our support. We already have many success stories.

Earlier today we had two signing ceremonies of joint ventures, one between Shark Robotics,

a French tech company, and Tenor,

a Ukrainian defense technology company producing battle-tested unmanned vehicles.

The other brought together Gomspace, a Danish space technology company that builds nanosatellites,

and Stetman, Ukrainian satellite production.

These are a kind of cooperation between the EU and Ukrainian companies that lay the foundation for more European sovereignty in critical technology sectors.

But of course we are not just the matchmakers.

Together with the Ukrainian government,

we are working on creating the best possible business environment and we help companies find the right funding solutions.

First, this means accelerating reforms that boost investor confidence.

You all know that the emphasis we place on the rule of law and anti-corruption with Deputy Prime Minister.

We agreed on a 10 point addressing the crucial dimensions.

Earlier this month, the government approved a program to adapt Ukrainian legislation to EU rules and standards.

We have also seen progress in Parliament with important laws passed in line with EU and IMF reforms.

Structural reforms are essential for Ukraine to move forward on its EU path,

strengthen trust in the institutions and improve the business environment.

They translate into legal predictability, independent courts,

effective anti-corruption measures, and transparent public procurement.

This is a tested formula where reform progress is strong, investor confidence follows. We have done it before.

The countries that joined the European Union in the past prove it.

Countries like Poland,

Czechia and Slovenia have tripled their economies over two decades of EU membership.

This brought prosperity for millions and strong returns for investors.

This is the path we want Ukraine to follow.

If we deliver again on reforms, we can create one of the most dynamic investment markets in the world,

bringing jobs, growth and long term stability for Europe as a whole.

Second is the mobilization of investment through EU-backed guarantees.

Today we signed two new guarantee agreements worth EUR €363 million with the European Bank for Reconstruction and Development to support small businesses.

This program also introduces an innovative war damage cover policy.

This means EU guarantees will shield companies from losses caused by war-related destruction. And how does this work in practice?

Just before the opening, you may have seen the success story video of VivaT Invest,

a construction company with over 100 employees from Zaporizia. They built underground schools and defense fortifications.

VAT Invest had to partially relocate to western Ukraine and procure new construction equipment.

They were able to do so because they received an EU-backed loan from a Ukrainian bank.

The company also received a small grant for employing war veterans. This allowed them to continue operating.

To support much needed investment in Ukrainian public infrastructure, we also signed a new €600 million allocation with the European Investment Bank to finance transport and energy projects,

as well as a €95 million agreement with the Slovak Exim Banka to support Ukraine's electricity sector.

In a nutshell, this is what a lot of our EU support does.

It reduces the risk of investing in Ukraine for both Ukrainian and EU companies.

I invite you to make sure use of these programs. Business leaders, let me repeat it again.

Now is a good time to invest in Ukraine.

It is becoming one of the most strategic investment destinations in Europe, innovative,

full of potential, and more and more central to Europe's future.

Last year I spoke about the Ukrainian expression variti bors razom to cook borscht together.

It means building something complicated, pretty together, because, like a good borscht,

what we are working on takes time, trust and coordination.

We need to listen to each other, adapt and find the recipe that brings the best result.

Today, you will see that the ingredients are already coming together.

Through concrete projects, joint ventures and joint investments,

we are building something essential European security and European resilience.

And like any good borscht, and I really like it,

we will be stronger because we bring together different ingredients and different experiences. So let us continue to Varity borschtcheraz.

I wish you a very successful business summit.

I see you in Gdansk when Marta will take care that everything will be ready when we come. Thank you so much.