ervice thanks to the
investments of the European Bank for Reconstruction and Development and
of a Canadian company. The plant supplies exclusive production for a
number of Ukrainian and foreign companies.
It was foreign companies that helped to organize the supply of modern
goods and services from the JV “Rise-Invest”, from “ODEK Ukraina” LTD,
from the firm “VIC-Expo” and Klesiv State Forestry.
Thanks to the 1.2 million dollar investments from Moldova the firm
“Dubnonasinnia” LTD specialized in preparing sugar beet seed is
operating in the region.
An important issue for the region is getting funds for such important
projects as “Introducing modern technologies for manufacture of hard
thermo-insulating mineral basalt wool slabs” (“Komunenergia”),
“Reconstruction of ammonia production on the base of energy saving
technologies” (OJST “Rivneazot”), “ Introduction of manufacture of
energy saving bulbs Prolux-mini in Ukraine” (“Gasotron”, Rivne).
To succeed in solving its socio-economic problems the region is in need
of foreign investments.
According to the concept of the investment program for the steady
development of Rivne region during the period of 2001-2010 (approved by
the Head of the Regional Administration on August 21, 2001, order № 543)
that comprises 132 projects, the need of the region for the investments
amounts to 112 million USD. The program foresees to create about 7
thousand and to preserve 13 thousand work places.
The meetings of the agents of the economical activity with the
representatives of Ukrainian and international establishments for
innovation, investment and credits were put into practice in order to
contribute to the development of the investments of the region.
The information about the investment projects and business offers of the
enterprises of the region are permanently spread at exhibitions,
business forums, through the Internet and Offices for Trade and Economy
at Ukrainian Embassies. In December 2001 Rivne region was represented at
the exhibition “Industry of Ukraine: investment potential” within the
Second International Forum of Economic Cooperation “Partnership for
consent and development”.
The main factor affecting the process of foreign investment into the
region is the lack of the steady legislative base, technological
backwardness of the most of the enterprises which produce
non-competitive goods, undeveloped regional fund market, undeveloped
system of warranties for returning funds to the investor, lack of
efficient mechanism for the protection of the foreign investors’
Being the tasks of stimulation of the market of capitals and activation
of non-bank financial establishments (pension funds, insurance and
leasing companies), the system of investment risk insurance, efficient
protection of the foreign investors’ property solved at the governmental
and legislative level, the conditions for business and investment
activity will improve.
DEVELOPMENT OF SMALL AND MIDDLE BUSINESS.
The complex support to the development of small business, development of
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