At the World Economic Forum in Davos, Ukraine's President Volodymyr Zelenskiy discussed the need for peacekeeping forces to enforce a ceasefire, while US President Donald Trump called for an end to the ongoing war. Meanwhile, Ukrainian officials, including First Deputy Economy Minister Oleksiy Sobolev, are actively courting private investors to help fund the country’s rebuilding efforts, estimated at $500 billion. Sobolev emphasized that Ukraine is focusing on privatization to attract foreign capital, noting recent success with smaller privatizations and expressing interest in opening larger companies to the private sector.

Trump also expressed his desire for a peace settlement between Russia and Ukraine, describing it as a critical step forward. His comments reflect a shift in US-Ukraine relations, with a greater emphasis on narrow economic interests. At the same time, former US ambassador to NATO, Kurt Volker, highlighted Ukraine’s potential as a source of secure energy and advanced weaponry for Europe, especially as defense spending increases across the continent.

Ukraine’s military production capabilities were also highlighted by Zelenskiy, who revealed that domestic factories now supply 40% of the weaponry used on the front lines. This figure has grown thanks to numerous joint ventures with Western defense companies, including over ten German partners.

The ongoing Russian attacks on Ukraine's energy infrastructure, including strikes on older coal plants, have created opportunities for Ukraine to shift toward cleaner, more decentralized energy solutions. A notable example is a $470 million deal with Danish wind turbine maker Vestas, which will help expand a wind farm in Ukraine’s southern region. Vestas CEO Henrik Andersen acknowledged the difficulty in securing funding for projects in a war zone but stressed the importance of public funding to kick-start Ukraine's massive reconstruction efforts, even before a peace deal is reached.

Disclaimer: This image is taken from Reuters file