Finnish actors play an important role in supporting and rebuilding Ukraine. Finnpartnership’s business partnership support was a significant help to Peikko Group, which manufactures fasteners for precast concrete construction, when it first began planning to launch a factory in Ukraine.

“The business partnership support helped us seal the decision to go to Ukraine,” says Peikko Group’s CEO Topi Paananen.

The company is launching a factory in Bila Tserkva, Ukraine, and the official opening of the factory was celebrated at the end of April. Initially, the factory will employ 15 Ukrainians, but growth is expected. The war has narrowed the Ukrainian market, but the country has a lot of potential, also from a reconstruction perspective.

“There are a lot of people and a lot of needs in Ukraine. In the long term, we believe that it will develop into one of the most significant markets in Europe. We encourage it,” Paananen predicts.

Finnpartnership’s new regional coordinator for Ukraine, Tetiana Filipovych, was present when the factory’s opening was celebrated in Bila Tserkva. According to Filipovych, three things in particular have contributed to the development of Peikko’s Ukrainian operations: courage, support and local understanding.

“Peikko is a trailblazer that bravely ventured into Ukraine when peace is still under negotiation.
Peikko undertook a thorough risk analysis and strategies to safeguard their operations. The support, advice and financing Peikko received from Finnpartnership and Team Finland helped Peikko get off to a good start. Peikko recognized and knew how to utilize Ukraine’s growth potential specifically from the perspective of local expertise,” says Filipovych.

According to Filipovych, Ukraine is a favorable environment for Finnish actors because strong Finnish expertise has been established there: the Finnish Ministry for Foreign Affairs, EastCham and the latest entrant, Finnpartnership, have extensive knowledge and understanding of the country’s economic, social and political situation.

“Peikko has set a good example in that courage is the most important tool a company needs to start something new,” Filipovych says.

Additional information:

Tetiana Filipovych

Regional Coordinator – Ukraine

tetiana.filipovych@finnpartnership.fi +380 (0)67 551 9265