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Review of the investment potential of the Chernivtsi region

The competitive advantages of this area are:
- Economy of the region aimed at innovative - investment model of development, cross-border cooperation and the development of transit systems;
- Favorable economic - geographical position at the crossroads of Central, Eastern and Southern Europe, it borders with the European Union;
- A powerful scientific and educational center: 32 University, which operates 214 doctors of sciences and 1213 candidates of sciences, 181 professors, 825 associate professors;
- Advanced IT - the industry;
- Development of agricultural sector;
- Excellent ecological situation.
 
In Chernivtsi region has more than 250 industrial enterprises.
 In the structure of industrial production is dominated by the following economic activities: production of electricity, gas, steam and conditioned air, food and beverage products, light industry, mechanical engineering, chemical and petrochemical industries.
Businesses and organizations in the region is carried out foreign trade operations with many countries of the world. In 2015, with the area of ​​production was exported to 51 countries around the world. Imported goods were received from 68 countries.The competitive advantages of this area are:
- Economy of the region aimed at innovative - investment model of development, cross-border cooperation and the development of transit systems;
- Favorable economic - geographical position at the crossroads of Central, Eastern and Southern Europe, it borders with the European Union;
- A powerful scientific and educational center: 32 University, which operates 214 doctors of sciences and 1213 candidates of sciences, 181 professors, 825 associate professors;
- Advanced IT - the industry;
- Development of agricultural sector;
- Excellent ecological situation.

 

Main

Import Partners

%

 

Main

Export Partners

%

 

1

Russian Federation

25,0

Turkey

29,0

2

Romania

20,3

Romania

12,1

3

Germany

9,1

Poland

11,7

4

Belarus

8,3

Germany

7,8

5

Italy

5,6

China

5,2

6

Iran

4,7

Syria

4,8

7

Moldova

3,6

Hungary

3,4

8

Turkey

3,3

USA

3,2

9

Poland

2,2

Italy

2,8

10

 

 

Russian Federation

2,0

In 2015 59.3 million US dollars of direct investment was attracted into the economy of this area.

Countries - investors


Volumes

direct investment

(Mln USD)

In  %

 

Total

59,3

100,0

Including

 

 

The Netherlands

15,1

25,5

United Kingdom

9,2

15,5

Cyprus

5,7

9,6

Turkey

4,1

6,9

Romania

3,7

6,2

Italy

3,3

5,6

Israel

3,0

5,1

France

2,4

4,0

Germany

2,4

4,0

Estonia

2

2

Czech Republic

1,8

3,0

Poland

1,5

2,5

USA

1,2

2,0

Other countries

2,7

4,6

Geographical structure of foreign trade in services in the region2015

 

Export

Import

Balance

 

thousand dollars

in % to

2014

thousand dollars

in % to

2014

 

 

 

 

 

 

Total

19091,1

124,6

1755,9

121,8

17335,2

Including

 

 

 

 

 

Australia

0,1

80,0

0,1

Austria

41,2

164,9

35,6

×

5,6

Azerbaijan

21,8

80,7

21,8

Albania

0,3

×

0,3

Algeria

2,3

87,6

2,3

Afghanistan

2,1

70,0

2,1

Belgium

4,6

120,5

4,6

Belarus

20,2

37,7

7,8

161,6

12,4

Bulgaria

68,2

2515,9

93,5

×

–25,4

Brazil

0,2

×

0,2

British Indian Ocean Territory

4,0

×

4,0

United Kingdom

128,7

55,5

12,8

4,4

115,9

Virgin Islands (Brit.)

1,0

×

1,0

Armenia

3,1

14,6

3,1

Ghana

250,0

101,6

250,0

Greece

4,3

88,4

4,3

Georgia

18,4

93,0

749,0

414,5

–730,6

Denmark

3,2

30,1

3,2

Djibouti

1,6

44,6

1,6

Dominican Republic

3,6

×

3,6

Estonia

10,1

142,7

10,1

Ethiopia

3,1

30,3

3,1

Emen

6,2

93,5

6,2

Zambia

1,6

65,9

1,6

Zimbabwe

1,6

×

1,6

Israel

8,3

65,2

8,3

India

3470,0

134,1

48,1

×

3421,9

Iraq

0,0

33,3

0,0

Iran, Islamic Republic of

186,1

1215,3

–186,1

Ireland

13,5

175,1

13,5

Spain

8,5

411,1

8,5

Italy

190,2

109,1

66,1

1258,5

124,1

Jordan

295,9

117,6

295,9

Kazakhstan

10,9

44,6

10,9

Cameroon

5,6

151,9

5,6

Canada

1229,4

133,3

43,4

×

1186,0

Kenya

4,1

113,6

4,1

China

11,4

24,3

11,4

Cyprus

89,3

66,1

–89,3

Former Yugoslav Republic of Macedonia

2,0

×

2,0

Colombia

0,1

72,7

0,1

Latvia

25,5

192,0

32,3

2938,2

–6,8

Lithuania

21,3

15,6

0,5

×

20,9

Libya

8,5

71,3

8,5

Luxembourg

50,5

696,8

50,5

Moldova, Republic of

83,0

53,9

83,0

Nigeria

67,2

87,6

67,2

Holland

866,4

69,8

4,3

94,1

862,1

Germany

4983,0

326,0

20,5

13,4

4962,4

Nepal

0,8

25,5

0,8

Norway

0,2

175,0

0,2

United Arab Emirates

35,7

247,9

13,5

×

22,2

Pakistan

2,8

66,2

2,8

Poland

608,1

72,2

36,4

14,4

571,6

Portugal

6,7

195,3

6,7

Russia

218,4

63,9

60,5

63,9

157,8

Romania

5306,0

101,9

1,2

1054,5

5304,9

Senegal

1,3

×

1,3

Serbia

2,2

3185,7

2,2

Syrian Arab Republic

21,1

89,8

21,1

Slovakia

5,2

3070,6

5,2

Slovenia

0,9

4300,0

0,7

46,5

0,1

Somalia

1,1

10,4

1,1

Sudan

7,1

266,2

7,1

USA

459,7

111,5

14,0

102,9

445,7

Taiwan, Province of China

10,9

32,7

3,9

×

7,0

Tunisia

0,9

×

0,9

Turkey

238,1

61,2

12,1

×

226,0

Turkmenistan

0,2

×

0,2

Hungary

0,5

144,1

0,5

Finland

8,7

108,9

8,7

France

53,9

131,0

53,9

Czech Republic

73,6

108,4

106,8

76,3

–33,2

Switzerland

70,4

358,9

117,6

2122,0

–47,2

Priority sectors for investment in this area are:

- Highly productive agricultural sector;

- Technological upgrading food, light and woodworking industries;

- Recreational and tourist industry;

- Housing and utilities;

- transport infrastructure;

- Cross-border cooperation.