Governments design and implement sophisticated nation branding and public diplomacy programs with a goal of bringing more tourists, beckoning more foreign direct investment, and promoting export. However, reputation of a nation can hurt investment, tourism, and export. In this article, we will answer the following questions: Why is soft power important? How to increase FDI? How can corporate brands influence country image? What are the challenges Ukraine is facing? What practical steps are made by Ukraine’s civil society to project a positive image of Ukraine?