Ukrainian Capital to Attract USD 1.5 Billion in Investments

KYIV, Ukraine, February 22, 2012 /PRNewswire/ --

The Head of the Kyiv Regional State Administration Anatoliy Prysyazhnyuk signed a number of international cooperation and investment agreements that secure USD 1.5 billion investments in the Kyiv region. The respective memorandums were inked at the International Investment Forum that marked the 80^th anniversary since Kyiv oblast was created.

One of the most significant projects among those approved was the construction of a thermal insulating materials plant in the Yagotyn district of Kyiv oblast. A Danish company will invest almost USD 190 million in the venture.

Multiple social projects were agreed upon at the International Investment Forum, held in Kyiv on February 21, 2012. They included provision of high-speed internet to the regional schools as well as restoration of libraries across the oblast. According to Anatoliy Prysyazhnyuk, the newly approved projects will be implemented throughout 2012.

Kyiv oblast is one of the most developed regions in the country. It boasts nearly 500 large and medium-size food, chemical, paper, and publishing enterprises, as well as energy, gas, and water supply businesses. The largest in Europe PJSC "Kyiv Cardboard and Paper Mill" is located in Kyiv oblast. Such known companies as PJSC "Rosava" (automobile tire manufacturer), JSC "Boreks" (power shovel manufacturer), CJSC "Boryspyl Autoplant" (bus manufacturer), and JSC "Vetropack Gostomel Glass Factory" are all located in the region.

JSC "Vetropack Gostomel Glass Factory" is one of the examples of successful investment. Functioning since 1912, the famous factory was bought by Vetropack in 2006. The Ukrainian enterprise joined the group of seven other companies, located in Austria, Croatia, Czech Republic, Slovakia, and Switzerland. By 2009 Gostomel glass factory was modernized and equipped with state of the art machinery.

The regional administration of the Kyiv oblast continues to seek ways to attract investment in the region. In this regard, local administration introduced the practice of close cooperation with entrepreneur associations and personally CEOs of select businesses.

According to the official Web site of the Kyiv Regional State Administration, foreign investors from 64 countries cooperate with 892 entities in the region. The Netherlands, Cyprus, and the UK are the top three international investors in Kyiv oblast, with total cumulative investment exceeding one billion dollars.