Polish Business Remains Committed to Investing in Ukraine and Expanding Exports
Despite political and historical tensions between Ukraine and Poland, Polish entrepreneurs continue to view Ukraine as a strategic market. Their main areas of focus are reconstruction, energy, finance and retail, said Dariusz Gurczynski, leader of the International Society of Polish Entrepreneurs in Ukraine.
According to him, several agreements between Polish and Ukrainian companies were signed during URC2026 in Gdansk. These included a memorandum between Orlen and NJSC Naftogaz of Ukraine. Orlen plans to increase liquefied natural gas supplies from the US to nearly 1B cubic meters. The company is also negotiating the acquisition of a stake in Ukrnafta’s gas station network.
In addition, Kredobank, part of PKO Bank Polski, and the EBRD finalized agreements to provide €100M in loans to Ukrainian and Polish companies. Polish investment in Ukraine increased in the first quarter of 2026, reaching $89.2M.
This made Poland the third-largest foreign investor in Ukraine, with a 12.6% share of new foreign direct investment. Poland also ranks among the leading countries by the number of new companies established in Ukraine since the start of the full-scale invasion.
Polish retail companies are also expanding their presence. LPP, which has operated in Ukraine for more than 20 years, reported a 54% increase in revenue last year to ₴17B. The company invested nearly ₴1B in expansion. The Pepco chain is also entering the Ukrainian market.
Polish companies expect further growth in supplies of fuel, machinery, equipment and food products to Ukraine. However, entrepreneurs warn that new trade restrictions could harm both economies and create additional tension in bilateral relations.
The data shows that, despite political disputes, Polish business continues to treat Ukraine as a long-term investment and export market. Reconstruction, energy security, retail expansion and financial cooperation remain the key areas where Polish companies see growth opportunities.
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