Panel 2: Security Guarantees in Action: What Strong Security Agreements Mean for Business in Ukraine

Conference summary report: https://natoassociation.ca/safeguardi...

The second panel, moderated by Mark Vytvytskyy, Vice President of CUCC, brought together key business sector professionals, including Roman Shimonov, Founder and CEO of Roshel; Zenon Potichny, President of CUCC; and Roman Kachur, Alternate Executive Director at the World Bank Group.

The discussion emphasized a multi-sectoral approach where security, infrastructure, energy independence, and entrepreneurship converge to create a resilient and investable Ukrainian economy.

The World Bank estimates Ukraine’s recovery costs between USD 500–750 billion (approx. CAD 680–1,020 billion) over the next decade, positioning it among the largest reconstruction efforts since WWII. Despite ongoing conflict, Ukraine is already mobilizing internal and external resources to rebuild critical infrastructure, stimulate local industries, and ensure economic stability.

Zenon Potichny outlined that several sectors have emerged as pillars of business opportunities in Ukraine, including agriculture, energy and renewables, critical minerals, defence and dual-use technology, infrastructure, and industrial logistics.

The Canadian Ukrainian Chamber of Commerce provides regular support to its members willing to work in Ukraine, organizes annual Rebuild Ukraine Conference to support bilateral business engagement, and offers a “Rebuild Ukraine Toolkit,” developed in partnership with Export Development Canada (EDC), designed to help Canadian SMEs navigate Ukraine’s legal, regulatory, and donor-subsidized business environments.

The panelists emphasized the urgent need for reforms to boost Ukraine’s economy, while the security risks will remain a fundamental concern for both people and businesses. Roman Kachur, joining virtually from Washington D.C., said that rather than simply rebuilding what was destroyed, Ukraine must focus on building a new economy. In its current state, Ukraine’s economy needs to grow by 850 percent to reach EU GDP levels. Achieving this will require massive public and private investment. Ongoing discussions with international partners, including Canada, aim to increase this support. Kachur stressed that the necessary reforms must align with Ukraine’s EU integration path, requiring a comprehensive transformation of institutions and markets to meet European standards.
Canadian company Roshel Inc. has been delivering Senator armoured vehicles to Ukraine since the start of the full-scale invasion, and in February 2025, it signed an agreement with Ukrainian state-owned defence firm Ukroboronprom for the joint production of armored vehicles in Ukraine. Roman Shimonov shared several insights from this experience, emphasizing that working with people on the ground from day one allowed Roshel to see firsthand what works and what doesn’t. He stressed that agility and rapid adaptation are essential, as there is no room for failure when people’s lives are on the line. When asked what advice he would give to young CEOs considering work in Ukraine, Shimonov responded: “Don’t wait till the end of the war. Make the war end sooner,” urging others to identify opportunities that can be turned into action immediately.

Throughout the session, panelists agreed: Private sector actors must not wait for peace. Ukraine’s economy is open, adaptive, and already rebuilding. Government support, while important, must shift from procedural bureaucracy to practical facilitation.

Ukraine’s war-forced innovation is now becoming a global model for resilience, especially in defence, energy, and digital entrepreneurship. Canadian leadership, both governmental and private, will be instrumental in advancing this reconstruction, not only as an economic opportunity, but as a moral and strategic imperative.