Philip Morris International Inc (PMI) will launch a USD 30 million production facility in the Lviv region in western Ukraine in the first quarter of 2024 creating 250 jobs, reports Reuters.

Since Russia’s invasion, Ukraine’s gross domestic product fell by 29.2 per cent in 2022 with only modest economic growth forecast this year. PMI is one of several multinationals that has now announced its investment plans to launch production in the country’s central and western regions, far from front lines, reports Reuters. Unilever has said it will invest USD 21.86 million in a new production facility in the Kyiv region while Nestlé has already started work on a USD 42.7 million production facility in western Ukraine.
“This investment reflects our commitment as Ukraine’s long-term economic partner,” Maksym Barabash, Chief Executive Officer of Philip Morris Ukraine, said in a statement. “We are not waiting for the end of the war – we are investing now.”
According to Reuters, PMI has invested more than USD 700 million in the Ukrainian economy since it started operating in the country in 1994.