Presentation of the Luhansk Region investment passport took place

On May 23, in the town Svyatogirsk during the Forum «Local Self-Governance and Decentralization in the East of Ukraine: Best Practices and Future Prospects» a presentation of the investment passport of Luhansk Oblast was held. The creation of the document became possible due to a support of UNDP and UN Women, with a financial support of the European Union as a part of the Reconstruction and Peace building Program. The document was developed by experts of the Rating agency IBI-Rating on request of the Department of Foreign Relations, Foreign Economic and Investment Activities of Luhansk Regional State Administration- Regional Military-Civilian Administration.

«Thanks to the support of the European Union, UNDP helps Luhansk region to come closer to building a sustainable regional economy. I am convinced that the investment passport will encourage the promotion of competitive advantages of the region. Thanks to the new passport, investors can get detailed information on the economic potential of Lugansk region free of charge in a matter of minutes. This is very important in the context of decentralization, when a competition for attracting investments intensifies ", - said Svitlana Karpinska, a specialist on fiscal decentralization of UNDP.

The investment passport contains structured data on: natural geographic, resource, tourism and labor potential, territorial organization, industry, entrepreneurship, agribusiness, trade and services, transport infrastructure, ecology and other business information. If a potential investor wants more detailed information, he can use interactive links. For example, using QR-code you can get detailed information about free land plots, investment offers, objects for ESCO-companies, the base of minerals and permits for their use, etc.

«Despite the difficult social and economic situation in the region, the area has a number of competitive advantages and opportunities for investors. First of all, it is rich in minerals, has a developed industry and a skilled workforce. Due to a low internal competition in the manufacturing sector, there are free resources and well-defined decision-making centers. Local authorities have made a very important step by creating the investment passport of the town at a such a level, it is now critically important to use it correctly, attracting business. I hope that work aimed at improving the business climate in the region will continue, and investors will feel the economic prospects and support from the authorities of the region,» said Victor Shulyk, director of the market research department of the Rating agency IBI-Rating.

«The investment passport of the Luhansk region is a strategic document of the Department of Foreign Relations, Foreign Economic and Investment Activities of Luhansk Regional State Administration - Regional Military-Civilian Administration and was designed to promote Luhansk Oblast as a region opened to business and investments with a presentation of its investment potential. The passport is an additional argument in negotiations with potential investors and will encourage the promotion of the region's investment advantages and, above all, offers wide opportunities for mutually beneficial cooperation and development. Now the specialists of the Department are working on the analysis of the most attractive areas for investment. Priority sectors for investment are the development of the agro-industrial complex, projects for the processing of agricultural products, the creation of enterprises for the production of energy from alternative sources and the development of industries - mining, chemical industry, mechanical engineering, pharmacy and others. Therefore, we are opened to cooperation and we are waiting for you in Lugansk region!» - said the deputy director of the department Konstantin Meshkov.

The document will be published on the sites of Luhansk Luhansk Regional State Administration - Regional Military-Civilian Administration, the Rating agency IBI-Rating, will be shared in city state administrations, regional investment and development centers, and will be used during the investment missions of the leadership of the Luhansk Regional State Administration - Regional Military-Civilian Administration.