Philip Morris International (PMI) is planning to build a new $30 million factory in the Lviv region of western Ukraine in the first quarter of 2024.
Maksym Barabash, CEO of PMI Ukraine, said in a statement:
"This investment reflects our commitment as Ukraine's long-term economic partner, we are not waiting for the end of the war, we are investing now."
PMI said the plant will create 250 jobs. Affected by the Russo-Ukraine war, Ukraine desperately needs foreign capital to rebuild and improve its economy.
Ukraine's gross domestic product fell by 29.2% in 2022, the steepest decline since the country's independence. But Ukrainian officials and analysts predict economic growth this year as businesses adapt to new wartime conditions.
Since starting operations in Ukraine in 1994, PMI has invested more than $700 million in the country.
Post time: Aug-01-2023
