Ukraine's attractiveness to foreign investors by 2030 will be driven primarily by the evolution of the war with Russia, with outcomes ranging from continued frontier-style, high-risk, selective investment under a stalemate to large-scale reconstruction-led inflows under peace or severe capital flight and market collapse under escalation. Foreign investment prospects in Ukraine by the end of the decade will be primarily determined by how the war with Russia evolves during that period . While issues like the pace of Ukraine's integration with the European Union, domestic institutional reforms and the evolution of the labor force will impact investment decisions, security conditions will remain the dominant driver of capital allocation decisions. Investor appetite will vary significantly depending on whether the conflict intensifies, stabilizes or moves toward resolution.