The USAID Investment for Business Resilience Activity, in cooperation with UkraineInvest and the Chernivtsi Oblast Military Administration, held the 9th FIT for Ukraine Bukovyna Industry Forum: Fruit and Vegetable Processing in Chernivtsi. The main purpose of the forum was to create an outreach and presentation platform for agricultural enterprises, demonstrate the prospects for investment in the oblast’s industry, and increase its competitiveness and export potential for the expeditious recovery and development of the Ukrainian economy.
Approximately 700 large and medium-sized enterprises of the oblast, government representatives, financial institutions, investors, management of retail chains and business community of Bukovyna took part in the forum, where the event speakers presented analytical materials on the region’s state of industry, available financial capacities, and government incentives for the implementation of investment projects. The key topics for discussion included investment policy, analytics and prospects for the region’s development, raising financial resources for fruit and vegetable processing, creating a cluster of fruit and vegetable producers, as well as best practices and experience of investors working in Chernivtsi Oblast.
“Agro-processing is beneficial from all points of view, including an increased added value, attracted investments, some finished imported products replaced with the domestic ones in the consumer market, and new jobs created. Since it takes more than a month to establish a new processing plant, domestic and foreign businesses need to start developing their projects right now: whoever is the first will have a competitive advantage,” said Oleksandr Melnychenko, Acting CEO of UkraineInvest.
As Yulia Vitka, Acting Chief of Party of the USAID Investment for Business Resilience Activity, pointed out in her remarks during the panel discussion “Financial Instruments for Processing Industry. Successful Cases”, “The agricultural sector is critical to the recovery of Ukraine’s economy and increasing its export potential. That is why the USAID Investment for Business Resilience Activity provides strong financial support to industry businesses through grant programs.“
Approximately 200 companies with foreign capital from 28 countries operate in Chernivtsi Oblast. Bukovyna ranks first in Ukraine in terms of fruit and berry production and crop yields. To support small producers and the industry in general, there is a need to establish fruit and berry harvesting and processing facilities in the agglomeration. This will enable the formation, processing, and sale of large batches of produce, expanding the sales market to include, inter alia, EU countries.
“Chernivtsi Oblast is a border region, and we are trying to take advantage of this aspect to develop our economy. We have capacities to increase export, expand logistics routes, and attract investment in the region’s agricultural sector, particularly in the processing industry. The share of agricultural and food processing industry outputs in the total exports of Chernivtsi Oblast accounts for 43.8%, and we are working for this indicator to keep growing. We support our agricultural producers and create conditions for the development of high potential areas in the agricultural sector,” emphasized Ruslan Zaparaniuk, Head of the Chernivtsi Oblast Military Administration.
The forum also featured an EXPO zone where the region’s companies presented their products and services. FIT for Ukraine is a series of investment forums for businesses interested in rebuilding Ukraine. In 2023, more than 7,000 people from 65 countries attended FIT for Ukraine events.
About FIT for Ukraine
FIT for Ukraine is a series of industry-specific analytical events for investors interested in rebuilding Ukraine. The platform promotes investment opportunities for Ukraine’s economic transformation.
About UkraineInvest
UkraineInvest is a government investment promotion office established in 2016 to attract foreign direct investment and assist existing investors in expanding their businesses in Ukraine. Since its inception as an advisory body reporting to the Prime Minister of Ukraine, UkraineInvest has evolved into a fully-fledged government agency providing investors with comprehensive support, including reliable and up-to-date information, advice on doing business in Ukraine, identifying best investment opportunities, facilitating communication between investors and government agencies at all levels, and helping to resolve systemic issues that investors may face. For additional information about UkraineInvest, please visit its Facebook page at: https://www.facebook.com/UkraineInvest/
About Chernivtsi Oblast State Administration (Oblast Military Administration)
The Chernivtsi Oblast State Administration (Oblast Military Administration) is a local executive body and pursuant to law, exercises powers in the field of social and economic development, including industry, agriculture, foreign economic activity, construction, and employment.
The activity of the Chernivtsi Oblast State Administration (Oblast Military Administration) is aimed at creating a favorable investment climate in the region for the purpose of attracting investment into the region’s economy and improving the living standards of its residents.
About USAID Investment for Business Resilience Activity
The USAID Investment for Business Resilience Activity (IBR) is a five-year program implemented by DAI Global LLC that supports systemic changes in Ukraine’s economy and increases the supply of finance available to Ukrainian businesses. IBR aims to transform the country’s financial sector into a well-functioning and competitive market that is aligned with European Union standards and integrated into international financial systems, while directly providing financing to enterprises for sustained economic growth. For additional information about the USAID IBR, please visit its Facebook page at: https://www.facebook.com/IBRUAproject
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