Ukraine will win war, according to business group

As Ukraine continues to claw back territory lost after Russia sacked, members of the Kyiv-based American Chamber of Commerce are confident that Kyiv will win the war.

Ukraine's military has enjoyed dramatic successes, recapturing land in the country s east and south, marking the latest in a series of setbacks for Russia.

92% of respondents said that Ukraine will win the war, according to the Chamber of Commerce's latest business climate survey. Some 77% of the Chamber's members believe the war will end in 2023 and 12% believe it will end in 2024.

The American Chamber of Commerce in Kyiv says that as Ukraine marks Independence, U.S. companies are up and running in the country.

The Chamber says that 131 CEOs and top managers from its member organizations took part in the survey, which was conducted between Sept. 26 and Oct. 3.

In 2023, 45% of members predicted an increase in revenue, while 29% predicted a decrease and 29% said revenues will remain the same. Some 98% of the Chamber's members plan to continue their operations in Ukraine in 2023, and 2% said they don't know yet.

Despite the challenges brought by Russia's brutal and unprovoked war against Ukraine, business continues to believe and work in Ukraine, said Andy Hunder, president of the American Chamber of Commerce in Ukraine.

As massive reconstruction looms, U.S. companies are urged to invest in Ukraine.

When asked about the post-war reconstruction period, 37% of respondents said it will last five or more years, 31% said it will last 10 or more years and 22% think it will last up to five years.

A joint assessment by the Ukrainian government, the European Commission and the World Bank earlier this month found that the current cost of recovery and reconstruction in Ukraine is $349 billion. They said that figure is expected to grow as the war continues.

The American Chamber of Commerce in Ukraine is an affiliate of the U.S. Chamber of Commerce. The organization was founded in 1992, a year after the independence of the country.

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One of the highest profile members of the American Chamber of Commerce in Ukraine is McDonald s Corp. MCD, in August the Associated Press reported that the fast-food giant is about to open some of its restaurants in Ukraine, a move welcomed by Ukrainians on social media, including Oleksandr Tkachenko, the country's minister of culture and information policy.

McDonalds reopening in Ukraine is a good sign of economic and investment activity for other world companies, he tweeted on August 11.