72% of transport companies plan to invest in business development in 2026

06/ 06/ 2026

Transport companies’ plans to invest in business development continue to grow steadily, from 59% and 64% in 2024 and 2025 respectively to a projected 72% in 2026. The majority of these investments are expected to be directed towards the modernisation of existing infrastructure facilities. These findings are confirmed by the results of the annual sectoral study Infrastructure Index, conducted by the European Business Association in cooperation with the law firms Arzinger and Sayenko Kharenko. Status of Transport Companies In 2025, 77% of the surveyed transport companies continue to operate. At the same time, the operations of 6% of companies were suspended but have since been fully resumed, 13% have partially resumed operations, and only 4% of the surveyed companies are currently not operating. Among the key challenges faced by businesses, respondents cited staff shortages, limited operation of sea terminals, damaged or destroyed assets, maritime safety risks, rising logistics costs, and electricity shortages. Rail Transport 60% of surveyed companies rate the legislation and implementation of state policy for the development of rail transport as mostly low, while 26% assess it as very low. Only 8% give a satisfactory rating, and 6% rate it as mostly high. The efficiency of Ukrzaliznytsia is considered low by 60% of respondents, satisfactory by 26%, and high by 14%. Among the key reforms and regulatory acts necessary for the development of rail transport, businesses highlighted changes to tariff policy (65%), opening the market for private traction (59%), adoption of a new Law “On Railway Transport” (59%), abolition of cross-subsidisation of passenger transport (56%), and unbundling of Ukrzaliznytsia alongside optimisation of non-core and excess infrastructure (53%). Road Transport 58% of survey participants rate the legislation and implementation of state policy on the development of road infrastructure and road transport as satisfactory. Meanwhile, 26% rate it as mostly low, and 13% as very low. Only 3%provide a high rating. The most necessary reforms and regulatory acts for the development of road freight transport include road infrastructure development (63%), introduction of electronic consignment note (e-TTN) and e-CMR (58%), permanent implementation of the “transport visa-free regime” (58%), development of border infrastructure (53%), and introduction of a carrier business reputation institution (29%). Maritime Transport 45% of respondents give a satisfactory assessment of port legislation and the implementation of the Strategy for the Development of Seaports of Ukraine until 2038. 44.5% rate it as low, while 10.5% provide a high assessment. 47% of respondents rate the efficiency of the Ukrainian Sea Ports Authority (USPA) as satisfactory, 42% consider it low, and 11% as mostly high. Among the most necessary reforms and regulatory acts for the development of maritime transport, respondents identified reducing port dues and the share of USPA net profit transferred to the state budget (62%), establishing a procedure for compensating investments in strategic port infrastructure facilities (57%), continuing port reform (46%), transferring port administrations of small ports to local authorities and/or private management companies (43%), and establishing an independent regulator (41%). The full Infrastructure Index survey report is available via the link. Maryna Sharapa. Partner of Arzinger. Rail transport, regulatory policy, and the activities of state monopolies, including Ukrzaliznytsia, have been among the top three failures of the transport sector over the past ten years. This year’s business survey results are not surprising, on the contrary, they are entirely predictable. Rail transport reform, changes in tariff policy in both the rail and maritime sectors, and the establishment of an independent transport regulator are issues that have been discussed cyclically for more than a decade without any real progress. Ideas are developed, draft laws are prepared, heated discussions take place, and everything returns to square one. At the same time, the lack of political will for radical change leads to a survival mode and the need for budget subsidies for Ukrzaliznytsia. I hope that the disappointing results of this year’s Index will mark the beginning of genuine change in 2026. Tymur Enkhbaiar. Counsel at Sayenko Kharenko. As business representatives rightly noted, ‘investment is faith backed by money’. Specific percentage indicators may not always be fully representative, but both Ukrainian and international businesses believe in Ukraine and continue to invest despite all the challenges of recent wartime years and the period before. At the same time, from a legal perspective, most capital investments are related to construction. In recent years, Ukraine has made significant progress in establishing legal mechanisms for more effective implementation of construction investment projects. Among the key achievements, I would highlight the modern electronic construction system, one that our international partners could envy, progress in implementing international contract forms, particularly FIDIC, as well as the creation, development, and improvement of such modern and business-friendly instruments as industrial parks and public-private partnerships, which are well understood by both Ukrainian and international investors. For reference: The Infrastructure Index has been conducted by the European Business Association since 2020. The survey assesses the condition of transport companies and their readiness to invest, legislation and implementation of state policies, investment activity, the state and development of transport logistics, the performance of public authorities and transport monopolies, as well as key reforms and regulatory acts in the rail, road, and maritime sectors. The survey involved 47 experts from the Logistics Committee of the European Business Association and was conducted between 13 November and 8 December 2025. The research partners were the law firms Arzinger and Sayenko Kharenko.

These findings are confirmed by the results of the annual sectoral study Infrastructure Index, conducted by the European Business Association in cooperation with the law firms Arzinger and Sayenko Kharenko.

Status of Transport Companies

In 2025, 77% of the surveyed transport companies continue to operate. At the same time, the operations of 6% of companies were suspended but have since been fully resumed, 13% have partially resumed operations, and only 4% of the surveyed companies are currently not operating.

Among the key challenges faced by businesses, respondents cited staff shortages, limited operation of sea terminals, damaged or destroyed assets, maritime safety risks, rising logistics costs, and electricity shortages.

Rail Transport

60% of surveyed companies rate the legislation and implementation of state policy for the development of rail transport as mostly low, while 26% assess it as very low. Only 8% give a satisfactory rating, and 6% rate it as mostly high. The efficiency of Ukrzaliznytsia is considered low by 60% of respondents, satisfactory by 26%, and high by 14%.

Among the key reforms and regulatory acts necessary for the development of rail transport, businesses highlighted changes to tariff policy (65%), opening the market for private traction (59%), adoption of a new Law “On Railway Transport” (59%), abolition of cross-subsidisation of passenger transport (56%), and unbundling of Ukrzaliznytsia alongside optimisation of non-core and excess infrastructure (53%).

Road Transport

58% of survey participants rate the legislation and implementation of state policy on the development of road infrastructure and road transport as satisfactory. Meanwhile, 26% rate it as mostly low, and 13% as very low. Only 3%provide a high rating.

The most necessary reforms and regulatory acts for the development of road freight transport include road infrastructure development (63%), introduction of electronic consignment note (e-TTN) and e-CMR (58%), permanent implementation of the “transport visa-free regime” (58%), development of border infrastructure (53%), and introduction of a carrier business reputation institution (29%).

Maritime Transport

45% of respondents give a satisfactory assessment of port legislation and the implementation of the Strategy for the Development of Seaports of Ukraine until 2038. 44.5% rate it as low, while 10.5% provide a high assessment. 47% of respondents rate the efficiency of the Ukrainian Sea Ports Authority (USPA) as satisfactory, 42% consider it low, and 11% as mostly high.

Among the most necessary reforms and regulatory acts for the development of maritime transport, respondents identified reducing port dues and the share of USPA net profit transferred to the state budget (62%), establishing a procedure for compensating investments in strategic port infrastructure facilities (57%), continuing port reform (46%), transferring port administrations of small ports to local authorities and/or private management companies (43%), and establishing an independent regulator (41%).

The full Infrastructure Index survey report is available via the link.

Maryna Sharapa Partner of Arzinger

Rail transport, regulatory policy, and the activities of state monopolies, including Ukrzaliznytsia, have been among the top three failures of the transport sector over the past ten years. This year’s business survey results are not surprising, on the contrary, they are entirely predictable. Rail transport reform, changes in tariff policy in both the rail and maritime sectors, and the establishment of an independent transport regulator are issues that have been discussed cyclically for more than a decade without any real progress. Ideas are developed, draft laws are prepared, heated discussions take place, and everything returns to square one. At the same time, the lack of political will for radical change leads to a survival mode and the need for budget subsidies for Ukrzaliznytsia. I hope that the disappointing results of this year’s Index will mark the beginning of genuine change in 2026.

Tymur Enkhbaiar Counsel at Sayenko Kharenko

As business representatives rightly noted, ‘investment is faith backed by money’. Specific percentage indicators may not always be fully representative, but both Ukrainian and international businesses believe in Ukraine and continue to invest despite all the challenges of recent wartime years and the period before. At the same time, from a legal perspective, most capital investments are related to construction. In recent years, Ukraine has made significant progress in establishing legal mechanisms for more effective implementation of construction investment projects. Among the key achievements, I would highlight the modern electronic construction system, one that our international partners could envy, progress in implementing international contract forms, particularly FIDIC, as well as the creation, development, and improvement of such modern and business-friendly instruments as industrial parks and public-private partnerships, which are well understood by both Ukrainian and international investors.

For reference:

The Infrastructure Index has been conducted by the European Business Association since 2020.

The survey assesses the condition of transport companies and their readiness to invest, legislation and implementation of state policies, investment activity, the state and development of transport logistics, the performance of public authorities and transport monopolies, as well as key reforms and regulatory acts in the rail, road, and maritime sectors.

The survey involved 47 experts from the Logistics Committee of the European Business Association and was conducted between 13 November and 8 December 2025. The research partners were the law firms Arzinger and Sayenko Kharenko.