From the beginning of the 1990s, 3,592 Turkish companies have been established in Ukraine, which highlights the Turkish business community’s long-term presence in the market. Despite the war in Ukraine, more than 92% of these businesses are still actively operating, from infrastructure to the defence industry, and from energy to property, retail and real estate, preparing to play a vital role in the reconstruction process.
According to official data, the total volume of Türkiye’s direct investment in Ukraine stands at approximately 3.5 billion dollars.
Major Cities where Turkish Companies Operate
The Role of Turkish Firms in the Operating Sectors
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Sectors |
Turkish Companies |
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Infrastructure and Construction
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Doğuş İnşaat, a Turkish construction company, undertook a road bridge project in the Kremenchuk region worth approximately $400 million. The project includes the construction of a new bridge approximately 2 kilometres long. Limak, a company won a tender worth approximately €224 million for the Dnipro metro. In addition, cooperation agreements have been signed with the Ukrainian Road Authority for projects totaling approximately $3 billion. |
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Energy Sector |
Onur Group, plans to build 690 MW of new energy production capacity in Ukraine by 2030. This investment is expected to be worth approximately $450 million. The company's total investment target in the country could reach up to $650 million. Aksa Enerji, plans to build and operate a 260 MW natural gas power plant under an agreement with the Izmail Municipality. An agreement has also been reached for a new electricity generation facility in Odesa. Europower Ukraine, produces equipment for solar power plants at its factory in Odesa. The share of Turkish companies in renewable energy investments in Ukraine is rapidly increasing. Currently, approximately 8% of renewable energy production comes from Turkish projects, and this rate is expected to exceed 10%. |
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Defense |
Turkey-based Baykar's project to establish an unmanned aerial vehicle (UAV) production facility in Ukraine is ongoing. The plan is to produce UAVs using Ukrainian engines and to export the systems produced. ASELSAN, STM, and MKE are cooperating with Ukraine on various defense projects, such as corvette production, electronic defense systems, and ammunition supply.
The trade volume in the defense and aerospace sector has also increased significantly in recent years. It is reported that exports in the sector increased by more than 500% in one year, exceeding $124 million.
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Real estate, e-commerce, textile industry |
During discussions with the Ukrainian government, it was stated that Turkish companies have investment plans in textiles, fashion production, and light industry. On the e-commerce side, production-based collaborations are attracting attention. Partnerships that could be established between Trendyol and Ukrainian manufacturers are particularly on the agenda.
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State Support of Investors
The Ukrainian government has adopted various financing programmes to accelerate investment. The 2026 budget allocates 51.8 billion UAH to support businesses.
A significant portion of this support will be provided under the “5-7-9% loan programme” developed for entrepreneurs, with a budget of 18 billion UAH.
Furthermore, the Decarbonisation Fund, established to support low-carbon technologies, will finance environmentally friendly investments with a budget of 1.9 billion UAH.
The US-Ukraine Reconstruction Fund, created with the US to contribute to Ukraine's reconstruction process, also stands out as an important financial instrument increasing the interest of private investors.
Conclusion
Ukraine's post-war reconstruction process holds significant economic potential for international companies. Assessments indicate that this process could offer Turkish firms a project portfolio worth approximately $50 billion.
The Ukrainian government is actively engaging with Turkish investors in areas such as energy infrastructure, defense, transportation projects, logistics centers, housing projects, and industrial parks. Within this framework, efforts are being made to create new investment opportunities through UkraineInvest and relevant ministries.
[1] See: The Union of Chambers and Commodity Exchanges of Türkiye https://www.tobb.org.tr/Sayfalar/Eng/Detay.php?rid=31261&lst=MansetListesi
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