In a statement made from Kyiv today, the International Chamber of Commerce (ICC) pledged to sustain Ukraine’s economic reconstruction and development process, in line with its mission to facilitate peace and prosperity. Building on this commitment, the ICC International Court of Arbitration (ICC Court) announced intentions to offer its case management services at reduced rates in support of the reconstruction efforts.
As Ukraine prepares to rebuild its economy and attract foreign investment, mitigating risks through effective dispute resolution mechanisms will be key. It is expected that a diverse range of disputes will arise in the context of reconstruction efforts – including in infrastructure, energy and transport projects.
ICC Secretary General John W.H. Denton AO said:
“Evidence shows that greater access to international commercial arbitration is associated with increased foreign direct investment volumes. As Ukraine rebuilds its economy, we are proud to make ICC’s world-class dispute resolution services available to foreign investors engaged in Ukraine’s reconstruction at reduced rates. This a further testament to ICC’s commitment to support the recovery of conflict-affected areas, pursuant to the mission of our founders, known as the Merchants of Peace”.
The ICC Court is the world’s leading arbitral institution, having administered over 29,000 cases under its Arbitration Rules since 1923. Its expert case management services provide efficient dispute resolution and enforceable outcomes, mitigate potential disputes and enhance investor confidence.
ICC International Court of Arbitration President Claudia Salomon said:
“The ICC Court’s commitment to supporting reconstruction efforts in Ukraine reflects our fundamental mission of promoting the rule of law through effective dispute resolution. By offering reduced rates for reconstruction-related disputes, we aim to enhance access to justice and provide the certainty that investors and businesses need as they contribute to Ukraine’s rebuilding”.
UkraineInvest Acting Executive Director Оleksandr Melnychenko said:
“In order to attract foreign investors to participate in Ukraine’s recovery, Ukraine has adopted new investment legislation that provides for state support and protection of investors with significant investments. The ICC initiative will be an additional benefit for investors as it provides for the creation of a transparent legal framework that will minimise legal risks and ensure business stability. All of this will help build confidence in the Ukrainian economy”.
To improve access to justice in Ukraine, ICC will make its world-class dispute resolution services related to Ukraine’s reconstruction projects available at reduced rates.
In addition, ICC and UkraineInvest will host joint webinars and other activities to increase awareness of investment opportunities in Ukraine and the role ICC dispute resolution services can play to facilitate them.
The initiative is in line with ICC efforts to support the Ukrainian private sector working hand in hand with ICC’s regional representative in the country, ICC Ukraine, as well as the Ukrainian Chamber of Commerce and Industry (UCCI), a member of the ICC World Chambers Federation.
As part of the former United Nations Secretary General Global Crisis Response Group, ICC played a pivotal role in the design of the Black Sea Grain Initiative. In 2022, in collaboration with UCCI, ICC established a Centre of Entrepreneurship in Kyiv to enable capacity building and equip Ukrainian SMEs with the know-how to access international markets.
As the institutional representative of 45 million companies in over 170 countries, ICC actively participates in multilateral discussions on Ukraine’s reconstruction – including through the Ukraine Donor Platform, its Business Advisory Council (BAC), the Ukraine Recovery Conference (URC) and the SME Resilience Alliance for Ukraine.
About UkraineInvest
UkraineInvest is the investment promotion office of the Government of Ukraine, established in 2018.
Since the entry into force of the new Ukrainian legislation on state support for investors with significant investments, UkraineInvest has supported two investment projects for which special investment agreements have been concluded between the Government of Ukraine and the investors for a total amount of EUR 95 million on the basis of a decision of the Cabinet of Ministers of Ukraine. UkraineInvest also supports investors with significant investments totalling EUR 1.3 billion.
