Luxembourg Hosts 3rd Ukraine Resilience Business Forum to Strengthen Economic & Security Cooperation

On Wednesday 5 March 2025, the third Ukraine Resilience Business Forum, organised by the Luxembourg-Ukraine Chamber of Commerce (LUCC), kicked off with an opening ceremony.

The event, which counted over 300 registered participants, is taking place from 08:30 to 16:00 at the Luxembourg Chamber of Commerce in Kirchberg, bringing together business leaders, policymakers, industry experts, and guests from Ukraine to discuss economic resilience and cooperation opportunities.

The 2025 forum was opened by LUCC President Evgenia Paliy, who welcomed attendees and emphasised that Ukrainian businesses and the economy continue to operate despite the war. "I want to say that these days we are showing that we are not only fighters, but we are also innovators. The country at war is continuing to do business, opening opportunities and looking for cooperation," she said. "And I'm happy that today we are here not just to talk. Today is a meeting for action, a call for action, a call for cooperation. And I hope that we will see the results of these meetings, that Ukrainians who are trying to survive in business and the economy will find partners here. And that this meeting will be fruitful for us. Together we can be powerful. Together we can be strong and resilient."

Carlo Thelen, Director General of the Luxembourg Chamber of Commerce, said that this platform for exchange is needed more than ever: "The involvement of the private sector in the recovery of the Ukraine remains a top priority for Luxembourg and the European Union. Businesses play, develop a role in the Ukraine construction, offering expertise in modernisation and innovation. It is particularly relevant that today's event is on the momentum of previous meetings and fosters collaboration within the Luxembourg ecosystem. This marks the third business forum organised by [LUCC]. With our full support to address the important topic of strength reconstruction and resilience and Luxembourg, companies remain deeply invested in this subject."

Luxembourg's Deputy Prime Minister, Minister for Foreign Affairs and Foreign Trade, Xavier Bettel, assured attendees of his support for Ukraine in a video address, stating: "I do not accept decisions about Ukraine without Ukraine. You should be the one who decides the future of your country. You can count on Luxembourg."

Andrew McDowell, Director General of EIB Global, highlighted the investments directed towards Ukraine following the full-scale invasion by Russia. He stated: "Since the full-scale invasion began, we've delivered over €2.2 billion in support to Ukraine, with the backing of the European Commission and EU member states, and more is on the way in 2024 alone. This funding has led to tangible results for Ukrainian citizens. For example, with Ukraine's energy infrastructure under attack, we launched a €600 million Ukraine Energy Rescue Plan, ensuring homes stay warm and lights remain on through the winter. Crucially, we are also designing projects to shield Ukraine’s energy infrastructure from drones, debris, and attacks."

In her speech, Deputy Minister of Finance of Ukraine, Olha Zykova, emphasised that "Ukraine has positioned itself as the epicentre of the new geopolitical order, and the ongoing war has demonstrated that while Ukraine’s sovereignty is under threat, it has also become a cornerstone of Europe's security architecture. With this, I believe that Ukraine has already proven itself not only as a victim of external aggression but as a resilient force in the defence of democratic values and the stability of Europe."

Ronald Dofing, Luxembourg’s Ambassador to Ukraine, spoke about discussions on cooperation in the field of defence and security: "I would like to address simply a few avenues, which I think are very important now at this very moment and for the future. Since the lines are shifting all over the world in the security field and Europe is now discussing how to best protect itself and its interests also militarily, I think the cooperation with Ukraine and helping Ukraine to boost its own defence sector is taking first row in all this. So I would like to launch an appeal to the companies in Luxembourg that are active in this sector."

A delegation from the Ukrainian city of Kharkiv, consisting of 27 representatives, also attended the third Ukraine Resilience Business Forum. Kharkiv, located just a few dozen kilometres from the Russian border, endures daily attacks. Deputy of Kharkiv City, Habriel Mykhaylov, spoke about the impact of the war on Ukraine's second-largest city and its reconstruction efforts: "We are already implementing several projects to ensure a high quality of life and safety for Kharkiv’s residents. For instance, to provide uninterrupted education in the city, underground schools are being built. We already have what we call the world’s only ‘metro school.’ In the future, we aim to construct dual-purpose facilities that can be used both in times of peace and in times of war. This includes kindergartens, schools, parking structures and many other facilities. There are numerous areas where we are applying such innovative approaches and processes in city life. With your support and participation, we will be able to implement even more initiatives, helping us restore the greatness of our city, Kharkiv."

The forum continued throughout the day, with panels and discussions featuring a lineup of prominent speakers, including high-level representatives from the Ukrainian and Luxembourg governments, Ministers of Foreign Affairs, European institutions and financial bodies such as the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), as well as leaders from Luxembourg's industrial and financial sectors, international investors and business leaders.

IK