“According to Ryzhenkov, the full-scale war became a period of loss of assets and struggle for survival for Metinvest.”, — write: www.unian.ua
According to Ryzhenkov, the full-scale war became a period of loss of assets and struggle for survival for Metinvest.
Yuri RyzhenkovThe revival of Ukrainian industry should become one of the key priorities of state policy, because without a powerful industry, sustainable economic growth, reconstruction and integration into the European market are impossible. This was stated by the CEO of the Metinvest Group, Yuriy Ryzhenkov, in a column for the NV and The Economist special project “The World Ahead”.
“Before the war, the mining and metallurgical complex formed about 10% of GDP, now it is almost 6%. One job in metallurgy creates eight more in related industries. Whatever the scenario of 2026, industry is the pillar on which taxes, value-added products, reconstruction and Ukraine’s place in the European market are supported. Therefore, industrial policy should already be in the center of attention, become a subject daily work that will unite private business and the state. Otherwise, even after ending the war, we will not be able to revive the industrial power of our country,” he emphasized.
According to Ryzhenkov, the full-scale war became a period of loss of assets and struggle for survival for Metinvest: the company lost enterprises in Mariupol and Avdiivka and was forced to stop operations of assets in Pokrovsk. But it managed to maintain the status of the country’s largest industrial player and one of the key donors to the Defense Forces of Ukraine.
Among the key conditions for the recovery of industry, Ryzhenkov named business access to financing and sales markets, primarily European, as well as effective state protection of the national producer. In particular, it is about eliminating opportunities for supplying Russian steel to the EU market.
Separately, he emphasized that European integration opens up new opportunities for Ukraine, particularly in the context of Europe’s “green” transition. According to him, the Ukrainian processing industry can become an important component of this process, and Metinvest is ready to play the role of a bridge between Ukrainian and European metallurgy.
“Having recognized the importance of its own production, the state will be able to revive industry. And perhaps the topic of the next special issue of “The World Ahead” will not be global militarization, but the positive chain effect of Ukraine’s industrial recovery,” Ryzhenkov summarized.
As you know, over 5 years, the largest metal enterprises of Ukraine paid taxes and fees in the amount of UAH 190 billion, or $6.2 billion. According to the results of 2024, the payment of taxes and fees of four metallurgical companies amounted to 1.6% of revenues to the budgets of all levels. But in the event of an increase in the tariffs of state monopolies and the freight tariff of Ukrzaliznytsia, the budget risks losing a source of income, because manufacturers will begin to close their enterprises.
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