AmCham: Most Ukrainian businesses don't expect ceasefire in 2025

A ceasefire or significant de-escalation in 2025 is not expected by 70% of surveyed companies in Ukraine, according to a survey by the American Chamber of Commerce in Ukraine (AmCham), Report informs via Interfax-Ukraine.

About 30% of respondents still express hope for progress in de-escalating the situation in Ukraine this year. According to the survey, more than half of the member companies of the American Chamber of Commerce in Ukraine (53%) expect that business conditions in the country in 2025 will remain unchanged, and work will continue as usual. At the same time, 29% of respondents predict a deterioration in conditions compared to 2024, 16% expect moderate growth, and only 2% of companies expect a significant recovery.

Among the key challenges for doing business, entrepreneurs in Ukraine named issues of security and employee protection - this problem was noted by 83% of survey participants. 66% of companies are concerned about the reservation of military personnel, 55% are concerned about the health and mental state of employees, 50% are concerned about Russian missile strikes on critical infrastructure, and 43% are concerned about the problem of attracting and retaining top managers.

The respondents named strengthening national security and demining territories (68%), ensuring the rule of law and implementing real judicial reform (53%), as well as predictability and stability of tax legislation (44%), as priority steps that businesses recommend to the government. At the same time, 64% of respondents see Ukraine's main opportunity as the investment potential for the largest economic recovery since World War II, including through the US-Ukraine Investment Recovery Fund. Other attractive factors include a favorable ratio of wages and skills (59%), market size and the process of joining the EU (55%), Ukraine's leadership in agriculture (53%), and a powerful defense industry (45%).

Entrepreneurs named the unclear legislative framework and tender conditions (60%), the safety of restoration sites (58%), and the lack of information or transparency on projects (51%) as the biggest barriers to business participation in the restoration of Ukraine. The survey was conducted from June 11 to July 1, 2025, jointly with Citi Ukraine. The study involved 122 CEOs and top managers of member companies of the chamber from various sectors of the economy. At the same time, 72% of respondents are company executives.