Germany firmly supports Ukraine not only through military assistance but also through economic aid. However, private investment is essential to complement state efforts.
German Chancellor Olaf Scholz said this at the opening of the 7th German-Ukrainian Business Forum, according to an Ukrinform correspondent.
Scholz noted that Russian President Vladimir Putin has failed to achieve his objectives in Ukraine.
“Ukraine is standing and will endure its third winter of war,” Scholz said, adding that Putin’s attempts to economically cripple Ukraine have also failed. Ukraine’s GDP and exports are growing, supported in part by the “Solidarity Lanes” initiative.
Scholz said that cooperation between Germany and Ukraine is a two-way street and encouraged the creation of joint ventures. He noted strong interest among German businesses in Ukraine, with nearly 2,000 German companies already active in the country, some of which are planning further investments.
He also pointed to growing collaboration in the energy sector, where private investment plays a significant role. He acknowledged the importance of investment guarantees to encourage such efforts, stating that Ukraine is the top recipient globally of these guarantees from Germany.
“Without private capital, recovery will not be possible,” Scholz said.
In his speech, Scholz delivered three key messages.
The first is that Ukraine will get through this winter: Germany will continue its support with air defense systems (including three Patriot systems, five Iris-T SLM systems with a sixth on the way, and additional Gepard self-propelled guns) and assistance in the energy sector.
The second message is that Putin is wrong. Germany provides not only security guarantees to Ukraine but also robust economic support.
The third message is that investing in Ukraine is investing in a future EU member.
Finally, Scholz reaffirmed Berlin’s support for a just and durable peace, emphasizing that no agreement would be reached without Ukraine’s participation.
“We are walking this path [to peace] together – Germany and Ukraine – side by side,” Scholz concluded.
Source: Scholz calls on German businesses to invest more in Ukraine
