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Modern economic POTENTIAL OF UKRAINE | |||||||||||||||||||||||||
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Investment portrait of Cherkassy regionGeneral informationFormation date – January 7, 1954 Area – 20.9 ths. sq. km (3,5% of Ukraine’s territory) Population – 1.357 mn people (2.9% of the population of Ukraine) Regional center – town of Cherkassy with a population of 294.2 ths. people The region consists of 20 districts; 6 towns of regional and 16 towns with district administration, 15 settlements, and 855 rural communities. Present economic situation of Cherkassy regionThe region is located in the forest and steppe geographical zone. Its relief consists of wavy plain with black earth prevailing. Favorable climatic conditions (moderate continental climate with mild winter and warm summer) are characteristic for the area. Average summer temperatures are +20oC and winter –5oC. AgricultureCherkassy region is an agrarian and industrial region in terms of its economy. The black earths of Cherkassy region foster a high level of agricultural development. Approximately one third of the working population in the region is involved in agricultural produce. Gross agricultural produce per inhabitant in the region exceeds the average all-Ukrainian figure by 1.5 times. 706 private agricultural companies owning land and property and 1,037 farms operate in the region. The area of agricultural lands comprises 1.5 mn ha (3.5% of Ukraine’s farming area), including 1.3 mn ha of plough land. 12 pedigree farms, 5 stud farms, and 46 farms for breeding dairy and meat cattle and pigs facilitate development of cattle breeding industry. Two R&D agricultural institutes provide a scientifically secure agricultural backbone. Cherkassy region completely supplies itself with primary foodstuffs. IndustryIndustrial complex of the region promotes the development of Cherkassy’s regional agriculture. It includes 321 industrial enterprises generating electric energy, producing mineral fertilizers, ammonia, chemical fibers, automation and computer facilities, technological equipment for the processing industry, machines and equipment for cattle breeding and manufacturing of fodder, as well as consumer goods for food and industrial groups.
Food industryAgricultural produce which is manufactured in the region is processed at 125 companies of food industry, where 31% of all employed people work. There are 13 sugar plants, 12 meat-processing plants, 16 dairy works, 13 flour mills, 11 distilleries, 20 bakeries, 8 breweries and soft-drink plants, and 13 canneries operating in the region. The industry produces a wide range of foodstuffs: natural and canned meat, fish, dairy products, fruits, vegetables, sugar, cereals, alcohol, beer, soft drinks, bakery, and confectionery items.
Chemical and pharmaceutical industryOutput from Cherkassy region chemical enterprises is well known. Synthetic ammonia, mineral fertilizers, synthetic resin, chemical filaments, and fiber are manufactured at the chemical plants in the region. The industry employs 17% of the whole working population. There are two powerful chemical enterprises in Cherkassy region: OJSC Azot which produces 20% of mineral fertilizers in Ukraine and OJSC Khimvolokno manufacturers 33% of chemical filament and fiber in Ukraine. Enterprises in the region also produce paints and varnishes, chemical agents, solvents, car care chemicals, polymer film, and drugs. Six companies of the region are completely or partially involved in the production of pharmaceuticals. The range of products embraces almost 80 kinds of drugs. Mostly these are cardiovascular drugs, asthmatic preparations, painkillers, and antipyretics. Machine buildingThe machine building sector in the region consists of more than 50 companies, where buses, technological equipment for the agro industrial complex, light industry, machines and equipment for cattle breeding and production of fodders, automatic transfer lines, chemical equipment, medicinal and computer technique, optical devices for telegraph equipment, metal cutting and wood processing tools, boilers, and household appliances are produced. Busses for public transportation, the Bogdan A-091 and A-092, with engines meeting environmental requirements of the European Union are the business cards of OJSC Cherkassy Bus. In response to investment projects for Bogdan Corporation, two plants with design output of 120 ths. cars and 15 ths. trucks would operate in Cherkassy till 2008. Investments to the project would exceed USD 240 mn. Production of Bogdan buses would be moved to Lutsk. Light industryNowadays light industry of Cherkassy region is reequipped with state-of-the-art technological equipment to sew outwear, male and female garments, and knitwear. Silk fabric, knitwear, garments, haberdashery, and footwear are produced at 32 industrial companies in the region. Bank activitiesThe banking system in the region consists of 49 balance establishments and 646 departments. Positive trends in lending to real economy sectors are supported by banking establishments in Cherkassy region. Approximately 15% of the total loans which are invested to economy of the region are directed to the development of industry, more than 30% - to development of small and medium business as well as trade, and about 55% - to the development of agroindustrial complex. Fourteen banking establishments operate with ATM cards. The stability of the currency market is secured. Sixteen exchange points and 247 operational cash desks of authorized banks are involved in currency exchange operations. Small businessThere are more than 5.7 ths. small companies and approximately 40 ths. individual entrepreneurs in the region. Inexperienced businessmen can be assisted in 3 business centers, 3 leasing centers, 2 regional entrepreneurship support funds, 48 balance establishments, 620 departments, 47 credit unions, 11 stock exchange brokerages, 6 branches, as well as more than 60 media, consultation, and law firms, 3 insurance companies with 46 branches, 43 audit companies, 7 investment companies, and 3 of their branch offices, the Cherkassy regional non-governmental organization ANGO Resource center, Smelyantshina Agency regional development public agency, the Center for Scientific, Technical, and Economic information, and other places. Foreign economic relationsCompanies in the region conduct foreign economic activities with partners from more than 100 countries of the world. The total volume of foreign trade in goods amounted to USD 628.5 mn, including USD 404.3 mn in export and USD 224.2 mn in import. The balance of foreign trade is positive at USD 180.1 mn.
Foreign investmentsThe total volume of non-resident capital in the region is USD 128.0 mn, including USD 122.9 mn in direct investments.
Companies in the region are interested in developing the following investment projects:
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