Ukraine’s legal market continues to operate under the shadow of the war, where reconstruction planning and defense-sector expansion dominate nearly every strategic discussion, according to Baker McKenzie Partner Lina Nemchenko, who observes that both clients and law firms are positioning themselves for the post-war landscape.
"The war, and the hope for meaningful progress toward peace, remains the central factor shaping absolutely everything," Nemchenko begins. From a legal and commercial perspective, rebuilding is the number-one topic across the market. "Even though no one can predict the exact timing, clients, investors, and law firms alike are preparing for “Day One” of post-war recovery. Everyone wants to understand the market dynamics, establish the right connections, and identify opportunities in advance. For lawyers, this means positioning ourselves now for what will inevitably become one of the largest reconstruction efforts in Europe," she explains.
Focusing on which sectors are seeing the most activity under current conditions, Nemchenko posits that one of the most striking developments has been the rapid expansion of Ukraine’s military-tech and defense industries. "Before the war, the key sectors attracting investor attention were agribusiness, IT, and general technology. Today, military tech is growing at an extraordinary pace, for tragic reasons, of course, but it has become a major area of focus for both domestic market players and international investors. We are assisting many clients interested in partnering with Ukrainian producers, research institutes, and defense-sector businesses. It is a highly active field and a significant opportunity for strategic collaboration."
Shifting gears to focus on the real estate and infrastructure landscape, Nemchenko mentions that warehousing and logistics are in the highest demand, driven by supply-chain challenges, humanitarian operations, and the need for more resilient distribution networks. "Residential and commercial real estate are currently quieter, taking a step back until conditions stabilize." Furthermore, she outlines that many businesses are "deeply concerned about workforce preservation, ensuring that employees remain safe, available, and able to support ongoing operations as well as future reconstruction. The war and the draft have had a major impact on staffing and project planning across real estate and infrastructure."
Moreover, Nemchenko reports that, somewhat interestingly, legislative activity has been relatively stable in recent months. "Many of the restrictions introduced early in the war, particularly those designed to prevent uncontrolled capital outflow, are now being gradually eased. Apart from that, we haven’t seen major new laws or sweeping reforms recently. This relative regulatory stability is, in a sense, intentional: the market is focused on maintaining functionality while preparing for a future wave of reconstruction-related legislation once conditions allow."
Finally, taking aim at the broader outlook for the coming period, Nemchenko says one thing is crucial: preparation. "There is a collective expectation that reconstruction will come, sooner or later, and that it will be immense in scale. Clients and advisors understand that the companies best positioned today, with knowledge, networks, and groundwork in place, will be the ones able to move quickly when Ukraine begins rebuilding in earnest. Despite all hardships, there is strong determination and a forward-looking mindset across the legal and business community. The goal now is readiness."
