German Chancellor Olaf Scholz urged German businesses to invest more in Ukraine at the opening of the 7th German-Ukrainian Business Forum, Ukrinform reported on December 11.
Scholz highlighted that Putin has failed to achieve any of his objectives in Ukraine. “Ukraine stands strong and is now entering its third winter of war,” Scholz said.
“Putin will not succeed in economically destroying Ukraine, though he tries hard,” the Chancellor added. He noted that Ukraine’s GDP and exports are on the rise, bolstered in part by the “solidarity corridors.”
The Chancellor emphasized that cooperation must not be one-way. He called for the creation of joint ventures and reassured attendees of the growing interest among German businesses in Ukraine.
According to Scholz, nearly 2,000 German companies are active in Ukraine, and some plan additional investments. He highlighted increasing collaboration in the energy sector, which has already seen substantial private investment. However, he acknowledged the need for investment guarantees, stating that Germany currently leads the world in providing such guarantees for Ukraine.
“Without private capital, reconstruction will be impossible,” Scholz said.
Germany will continue to provide support, including air defense systems like Patriot and Iris-T, and additional Gepard anti-aircraft units.
“Investing in Ukraine today means investing in a future EU member,” the German Chancellor added.
Scholz reaffirmed Germany’s support for a fair and lasting peace that respects Ukraine’s sovereignty. “We are on this path to peace together—Germany and Ukraine—side by side,” he said.
Earlier, the Ukrainian Prime Minister announced that Germany will provide Ukraine with a sixth IRIS-T air defense system and additional Patriot missile systems.
