Transformation of Greenfields in Ukraine

Russian-Ukrainian war has become the main catalyst for alterations in the state national economy, which is currently affected by the recession. Therefore, the financial contributions, especially foreign investment, drastically necessary for economic recovery. Greenfield projects are those projects, the main purpose of which is a continuous process of using the lands, that have been vacant or have been used in agriculture or forestry for a long period of time. The key feature of greenfield investment strategy is building residential or industrial facilities from scratch. They will not be restricted by existing material and technical base, and the investor will be completely independent in his construct solutions. It should be mentioned that it is the “green projects”, which are the most relevant for Ukraine’s reconstruction, as the costs for green project implementation are much cheaper, than brownfield projects, which may include liquidation or partial reconstruction of industrial facilities, if the latter have been destroyed by the hostilities. Over the past 10 years, hundreds of greenfield projects, which are characterized by its industrial, agricultural, and innovative directions, have been implemented in Ukraine. The development of greenfield areas can be an important element for ensuring the spatial development of cities and regions, as well as for creating new workplaces and attracting investments. However, it is also important to consider the impact of this process on the environment and the need for balanced development to avoid negative environmental or social consequences.