PMI to Open a Factory in Ukraine
According to Reuters, Philip Morris International will launch a US$30 million production facility in Lviv, western Ukraine, in the first quarter of 2024. According to PMI, the plant will create 250 jobs. 'This investment reflects our commitment as a long-
According to Reuters, Philip Morris International will launch a $30 million production facility in Lviv, western Ukraine, in the first quarter of 2024.
According to PMI, the factory will create 250 jobs.
“This investment reflects our commitment as a long-term economic partner of Ukraine,” said Maksym Barabash, CEO of Philip Morris Ukraine. “We are not waiting for the war to end—we are investing now.”
After the Russian invasion, Ukraine needs foreign capital to rebuild its economy.
GDP fell 29.2 percent in 2022, the largest annual decline in more than 30 years since Ukraine gained independence. Other major multinationals, including Unilever and Nestlé, have also recently announced investment plans in the central and western regions.
PMI began operating in the country in 1994 and has invested more than $700 million in Ukraine’s economy to date.
