PRESS RELEASE: On November 10-11, 2011 Kirovohrad region met with investors

Kirovohrad was hosting the International Investment Forum Elisavetgrad Investment Day, initiated by Kirovohrad Regional State Administration. The forum was opened by the chairman of Kirovohrad Regional State Administration, Serhiy Larin, who addressed the welcoming word on behalf of Ukrainian President Viktor Yanukovych: "The implementation of strategic economic reforms, the increasing competitiveness of domestic goods on European and world markets and the use of modern technologies are priority tasks for Ukraine. I'm sure that Kirovohrad region, with its rich natural resources, industry and infrastructure, has a high potential, and the local authorities will continue to promote an attractive investment climate in the region and improve the welfare of its residents." Vice Prime Minister and Minister for Social Policy of Ukraine Sergiy Tigipko made a speech in front of the audience of the International Investment Forum. The vice prime minister noted that important and positive changes had recently been made in the legislative framework of the country, which in general should create a favourable environment for domestic and foreign investors. An important step in this direction was the adoption of Tax and Customs codes aimed at the simplification of tax, licensing and customs procedures. The results of these changes are positive trends in the country's economy. The investment volume has grown compared to last year, as in January-June, the country received $2.5 billion in foreign investment. Chairman of Kirovohrad Regional State Administration Serhiy Larin, in turn, said that for one-and-a-half years his team was seeking to turn Kirovohrad and the entire region into a real center of Ukraine, not only geographically, but also in terms of economic and business development, i.e. a center on the creation of comfortable conditions for significant investments. The governor also noted that the basic principle of investment attraction had been envisaged in the regional five-year program of social and economic development entitled "A Central Region - 2015." The accents of work with investors have been changed: earlier, this was the prerogative of the governor or his deputies, and now, this question is actively addressed by the heads of 25 districts and mayors of 12 cities. Serhiy Larin's statement could be confirmed by the presence at the forum of international companies, which have already been working in the region, such as Velta, Noble Resources Ukraine SA, or those interested in cooperation with Kirovohrad region - Ernst & Young, Troika Dialog Ukraine, members of the International Trade Club, etc. Thus, Bogdan Yarmolenko, Partner, Audit Services, Ernst & Young, talked about the basic components of the investment attractiveness of the region. He believes that the most promising are investments in infrastructure, agriculture, nuclear energy, energy saving technologies and alternative sources of energy, ecology, engineering, as well as small and medium businesses. Andriy Nikolayenko, the first deputy chairman of Kirovohrad Regional State Administration, presented as part of the forum a strategy for the development of the region and the prospects of doing business in Kirovohrad region. "A number of investment projects aimed at developing various economic branches are being implemented in the region. However, first and foremost, the region is well-known as an agricultural and industrial region, the main wealth if which is fertile black soil - the most productive source of high-quality and ecologically clean food in Europe, which suggests that the agricultural sector in our region has great potential," Nikolayenko said. The forum was attended by about 400 participants, including representatives of central executive bodies, people's deputies of Ukraine, heads and representatives of Ukrainian and international investment companies and funds, in particular, from Belarus, Russia and the Czech Republic, as well as representatives of diplomatic missions accredited in Ukraine, particularly representatives of Belarus, Russia, Lithuania, Hungary and Poland. The general partners of the Elisavetgrad Investment Day were Velta, a company implementing one of the largest investment projects in Kirovohrad region – the construction of an ore-dressing complex for the production of ilmenite concentrate, and Noble Group, a market leader in managing the global supply chain of agricultural, industrial and energy products. The official partner was Ernst & Young, an international expert in the field of audit, tax, transaction and advisory services. More details about the forum can be found on the Web site of at the organizers – Conference House Company: www.ch.kiev.ua
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