Large companies are preparing for the end of hostilities – post-war Ukraine opens up business opportunities
One in three large companies have explored business opportunities in Ukraine in the event that hostilities cease. Nearly 90% of large companies would be prepared to contribute to Finland's national defence even if it was not optimal in business terms.
Around one in three large companies in Finland have explored business opportunities in Ukraine in the event that hostilities cease, according to OP Pohjola's Survey of Large Corporations.
Most commonly, large companies have explored potential customers and markets in Ukraine, but many companies have also investigated Ukraine as a potential source of labour and raw materials and as a location for production facilities.
"The fact that large Finnish companies are exploring business opportunities in Ukraine speaks of strategic optimism: companies are preparing for the post-war economic recovery and opportunities opened up by peace," says Katja Keitaanniemi, CEO of OP Corporate Bank.
Before the war, 35% of large companies responding to the survey had business operations in Ukraine, while 46% operated in Russia. Despite this, when it comes to post-war business opportunities, most companies have focused only on Ukraine. Less than 10% of the companies surveyed say they have explored opportunities in Russia.
Membership in NATO has opened new business opportunities – corporate executives' attitudes show a willingness to defend Finland
Russia's invasion of Ukraine brought security of supply and national defence into the spotlight in Finnish public discourse, resulting in the country becoming a member of NATO in April 2023. Two and a half years later, about half of the large companies surveyed say that the membership in NATO has opened up new business opportunities. The share of companies that identified business opportunities increased clearly from the first year of membership in 2023, when only a third of companies had identified such opportunities.
The overall strong commitment to national defence is also reflected in the attitudes of executives of large companies: 87% say that the company would be ready to serve customers related to Finnish national defence or the defence sector even if this was not optimal in business terms.
"Corporate decision-makers understand that national security is the foundation for all business. Geopolitical instability also expands the role of large companies, as they help ensure that Finnish society remains functioning and build confidence in the future," Keitaanniemi notes.
The results are based on OP Pohjola’s annual Survey of Large Corporations, which measures large Finnish company executives’ views on business and economic developments. The survey results will be published in full in January 2026. A total of 155 senior executives representing 139 large Finnish corporations and large subsidiaries operating in Finland responded to the survey. According to their latest certified financial statements, the responding companies have a combined revenue of over 248 billion euros, and they employ over 585,000 people in total. The survey was conducted in autumn 2025. OP Pohjola carries out the Survey of Large Corporations in partnership with the Nordic Institute of Business and Society (NIBS) think tank founded by Aalto University professors.
Media enquiries:
OP Pohjola Corporate Communications, tel. 010 252 8719, viestinta@op.fi